Babylon (NYSE:BBLN) provided an update this morning on its recapitalization transaction, announcing that it has accepted a take-private proposal from AlbaCore on behalf of its affiliate, digital neurotherapeutic platform MindMaze.
The parties expect the transaction to close by July, but as the two companies work to come together within the next few weeks, they will both continue executing their day-to-day operations. Over the mid-to-long term, Babylon and MindMaze intend to align the strengths of their organizations to deliver a novel care paradigm and deliver exceptional outcomes for all stakeholders.
The transaction establishes a new capital structure that reduces the pro forma company debt. It will also include immediate funding for Babylon’s current business operations and funds for the combined company, allowing it to focus on delivering growth and profitability over the near to mid-term.
As a result, Babylon will transfer its core operating subsidiaries to MindMaze and Babylon’s Class A ordinary shares will cease trading on the NYSE under the ticker symbol ‘BBLN’.
Additionally, the take-private proposal will not provide for any payment towards Babylon’s Class A ordinary shareholders as AlbaCore intends to exercise its rights under its debt agreements with Babylon.
Just last month, Babylon announced its plan to go private as it entered into an amendment and restatement of its senior secured term loan facility with AlbaCore for up to an additional $34.5 million in funding. The de-SPAC believes that this proposal will strongly position the company to accelerate its core mission of making high-quality healthcare more accessible and affordable.
InsureTech firm Babylon closed its $3.6 billion combination with Alkuri Global less than two years ago in October 2021. London-based Babylon provides digital self-help care tools and telemedicine services to patients in North America, Europe and Asia.


Terms Tracker for the Week Ending June 27, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. June continued its late-month rally with another five SPAC IPOs pricing this week, bringing the monthly total to 10 and the 2025 year-to-date count to...
Blueport (NASDAQ:BPACU) has filed for a $69 million SPAC that would bring another first-time sponsor team to market. The new SPAC is offering investors a right to a 1/6 share in each unit and it will have 15 months to complete a business combination. It is underwritten by Alliance Global Partners and will not be...
At the SPAC of Dawn The markets appear to poised to continue a rosy week with futures in the green in anticipation of PCE inflation readings. Space is one of the sectors feeling the most love recently and launch services firm Rocket Lab (NASDAQ:RKLB) is keeping up the momentum, scheduling two launches within 48 hours...
FIGX Acquisition Corp. (NASDAQ:FIGXU) announced the pricing of its $131 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “FIGXU”, Friday, June 27, 2025. The new SPAC aims to seek out a financial services target with a particular focus on wealth and asset managers with the potential to...
Yorkville Acquisition Corp. (NASDAQ:YORKU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “YORKU”, Friday, June 27, 2025. The new SPAC plans to combine with a target company in the telecom, media or technology sectors. Yorkville Acquisition Corp.’s management team is led...