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.
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...
At the SPAC of Dawn Futures sit slightly red as investors return from holidays of barbecues and fireworks to renewed concerns about where US President Donald Trump’s tariff policy might hamper trade. The latest shift produced a further one-month delay in most of the tariffs Trump has threatened to impose as his administration continues to...
Terms Tracker for the Week Ending July 3, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re heading into the July 4th holiday, so we’ll keep this week’s column short and to the point. But before you head to the beach,...
Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...