Guilford, Connecticut-based Hyperfine initially announced the proposed merger with HealthCor, a special purpose acquisition company (SPAC) in July.
The company will receive approximately $160 million in gross cash proceeds from the business combination and a concurrent private placement, according to a news release. The funds are earmarked for the company’s growth initiatives, including the commercial expansion of its Swoop FDA-cleared portable MRI system.
Swoop was designed to address the limitations of current imaging technologies by offering MRI for brain imaging any time, anywhere, through a console that wheels directly to a patient’s bedside, plugs into a standard electrical wall outlet and is controlled by an Apple iPad.
Hyperfine’s Class A common stock…