Pear Therapeutics picks up another $50M ahead of going public through SPAC merger

Pear Therapeutics and Thimble Point Acquisition Corp. announced today that they received additional funding worth $50 million ahead of a merger.

Boston-based Pear Therapeutics confirmed in June that it will go public by merging Thimble Point Acquisition Corp., a special purpose acquisition company (SPAC). A special meeting will be held for Thimble Point stockholders to vote on the merger on Nov. 30, and, subject to approval, the combination is expected to close shortly thereafter.

A special meeting for Thimble Point stockholders to vote on the combination with Pear will be held virtually on November 30, 2021 at 9:00 AM, Eastern Time. Subject to stockholder approval, the business combination is expected to close shortly thereafter.

The merger with Thimble Point, whose management team is associated with the Pritzker Vlock Family Office, will result in a combined company named Pear Holdings Corp that will trade under the “PEAR” ticker on the Nas…

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Pear Therapeutics to go public via merger with SPAC

Pear Therapeutics announced today that it entered into a definitive business combination agreement with SPAC Thimble Point Acquisition Corp.

Boston-based Pear Therapeutics’ combination with the special purpose acquisition company (SPAC), whose management team is associated with the Pritzker Vlock Family Office, will result in a combined company named Pear Holdings Corp. The companies expect to complete the merger in the second half of this year.

Pear Holdings Corp. will be led by Pear’s current management team, with the combined company’s common stock set to be listed on the Nasdaq market under the ticker “PEAR,” according to a news release.

The business combination values the combined company at a pro format equity value of approximately $1.6 billion. Pear Holdings Corp. is expected to have approximately $450 million in net cash on its balance sheet upon the transaction, including approximately $400 million in gross proceed…

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