PureTech Health's Akili, Virtual Therapeutics Sign Merger Deal to Launch Digital Health Company

MT Newswires Live05-29

PureTech Health (PRTC) said Wednesday that its founded entity, Akili, Inc. ( AKLI), a digital therapeutics company, and Virtual Therapeutics have signed a definitive merger agreement to form a diversified, digital health company.

Under the terms of the deal, Akili shareholders will receive $0.4340 per share in cash, which represents a roughly 4% premium to Akili's closing stock price on Tuesday, and an approximately 85% premium to its closing price on April 29, the last trading day before Akili announced it was evaluating potential strategic alternatives.

The merger, which was approved by Virtual Therapeutics' and Akili's board of directors, is expected to close in Q3 at which point Akili shares will no longer be listed on any public stock exchange. The combined organization will operate as privately held Virtual Therapeutics, with Akili operating as a wholly owned subsidiary.

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