Better Therapeutics, an organization that helps deal with sufferers with smartphone apps, is in superior talks to go public by means of a reverse merger with a blank-check firm, based on folks with data of the matter.
The San Francisco-based firm is in talks to mix with Mountain Crest Acquisition Corp II, the folks mentioned, asking to not be recognized as a result of the knowledge is personal. It is also in discussions to boost capital from buyers for a $50 million personal funding in public fairness, or PIPE, to help the transaction mentioned the folks.
The deal is anticipated to be introduced later this week, the folks mentioned, though talks are ongoing and will nonetheless crumble.
Representatives for Higher Therapeutics and Mountain Crest II declined to remark.
Higher Therapeutics, based in 2015, develops software program for apps that deal with sufferers, which it calls prescription digital therapeutics. Its apps will be prescribed to assist deal with diabetes, coronary heart illness and different circumstances utilizing cognitive behavioral remedy.
Case research on its web site present sufferers utilizing the smartphone app to set objectives and observe biometric markers to assist set up new habits. The corporate is working medical trials of its merchandise.
The SPAC raised $57.5 million in its preliminary public providing in January. Its shares closed buying and selling Tuesday down 0.6%, giving it a market worth of $75 million.