Butterfly Network to merge with SPAC Longview in $1.5 billion

Butterfly Network, a global leader in democratizing medical imaging, to be listed on NYSE through a merger with Longview Acquisition Corp.

Butterfly iQ is the only ultrasound transducer that can perform "whole-body imaging" with a single handheld probe using semiconductor technology. Connected to a mobile phone or tablet, it is powered by Butterfly's proprietary Ultrasound-on-Chip™ technology and harnesses the advantages of AI to deliver advanced imaging that we believe is easy-to-use, improves patient outcomes and lowers cost of care.

- The Pro Forma enterprise value of the merger is $1.5 billion, with the combined company expected to have an estimated $584 million in cash after closing.

- 100% of the equity of existing Butterfly Network investors, including Baillie Gifford, The Bill and Melinda Gates Foundation and Fosun Industrial Co., Limited, will convert into shares of the combined company. There will be no selling stockholders in the transaction.

- The business combination is expected to be completed by the end of the first quarter of 2021, and the combined company will be listed on the NYSE under ticker symbol "BFLY."

finance.yahoo.com/news/butterfly-network-global-leader-democratizing-120000797.html