Shots:

• Pear signs a SPAC merger with THMA for pro forma equity value of ~ $1.6B & is expected to provide ~ $400M in gross proceeds include $276M in Thimble Point’s trust account & $125M upsized PIPE at $10.00/ share. The combined company is expected to have ~$450M in net cash & transaction is expected to end in H2’21
• The combination will provide additional investment to capitalize Pear’s leading position by investing in the commercialization of Pear’s 3 FDA-authorized products- advance Pear’s pipeline & scaling its platform to host PDTs
• Pear equity holders will hold ~72% outstanding equity of combined company while Pear expect to be trade on Nasdaq under the ticker “PEAR”

  | Ref: Business Wire | Image: Business Wire