Hudson Executive (HEC) Shareholders Approve Talkspace Deal
by Marlena Haddad on 2021-06-17 at 12:27pm

Hudson Executive Investment Corp. (NASDAQ:HEC) shareholders announced in a press release today that its shareholders approved its combination with virtual behavioral healthcare company Talkspace at a special meeting earlier today.

The press release did not mention redemption amounts, but stated that 94.51% of the votes cast, representing approximately 74.05% of HEIC’s outstanding shares, voted to approve the business combination with Talkspace.

The parties now expect to close the deal June 22, after which its shares and warrants will trade on the Nasdaq under the symbols “TALK” and “TALKW,” respectively, on June 23.

It comes as no surprise that the virtual mental health provider did well during the COVID pandemic where many were faced with lockdowns and quarantine.   Talkspace delivered a strong Q1 2021 for operational and financial results as its net revenue grew by 144% year-over-year to $27.2 million.  Total active members grew by 110% during this same time period as individuals and employers’ attitudes shifted to focus on mental health. However, today’s meeting did not seem to settle well with investors as HEC plummeted over 5.7% to $9.23 following the announcement.

Hudson Executive and Talkspace initially inked its $1.4 billion deal on January 13. Talkspace connects users to licensed mental health care providers through a web and mobile platform and can also provide psychiatric services and prescription fulfillment.


ADVISORS

  • J.P. Morgan Securities LLC acted as lead financial advisor to Talkspace.
  • Jefferies acted as financial advisor to Talkspace.
  • Latham & Watkins LLP acted as legal counsel to Talkspace.
  • Citigroup Inc and J.P. Morgan Securities LLC acted as capital markets advisors and placement agents.
  • Citigroup acted as financial advisor to Hudson Executive Investment Corp.
  • Milbank LLP acted as legal counsel to Hudson Executive Investment Corp.
Hudson Executive (HEC) Shareholders Approve Talkspace Deal
Recent Posts
by Nicholas Alan Clayton on 2025-07-03 at 8:27am

At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...

by Nicholas Alan Clayton on 2025-07-02 at 12:13pm

McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...

by Nicholas Alan Clayton on 2025-07-02 at 8:29am

At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....

by Nicholas Alan Clayton on 2025-07-02 at 6:28am

EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...

by Nicholas Alan Clayton on 2025-07-01 at 7:51pm

Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved