Pear Therapeutics Plans To Go Public In $1.6B SPAC Deal

The digital treatment developer Pear Therapeutics is taking the SPAC route to go public through a deal expected to provide about $400 million in new funding, representing a pro forma equity value of approximately $1.6 billion.
The proceeds include $125 million gathered from upsized private investment in public equity, plus $276 million held by Thimble Point Acquisition Corp THMA, a blank-check company backed by the Pritzker Vlock Family Office.
The newly combined Pear Holdings Corp. is expected to begin trading on the NASDAQ under the ticker PEAR.
Business Combination provides additional investment to invest in the commercialization of Pear’s three FDA-authorized products, advancing Pear’s pipeline of product candidates.
The deal will conclude in the 2H of 2021.
Price Action: THMA shares are up 1.80% at $9.88 during the market trading session on the last check Tuesday.