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UpHealth and GigCapital2 Close Merger
Thursday 10 June 2021

US-based investment group GigCapital2, Inc (NYSE: GIX) has closed its business combinations with digital health technology and tech-enabled services platform UpHealth Holdings, Inc. and patient and provider communication specialist Cloudbreak Health, LLC, the company said.

The combined company has changed its name to UpHealth, Inc., and its common stock and warrants will begin trading on the New York Stock Exchange under the new symbols "UPH" and "UPH.WS," respectively, on June 10, 2021.

Each GigCapital2 unit will now separate into its components consisting of one share of common stock, one warrant, and a right for one-twentieth of a share of stock that will also be issued at the closing, and, as a result, both the GigCapital2 units and the GigCapital2 rights will no longer trade as separate securities.

Oppenheimer and Co. Inc. and Nomura Securities International, Inc. serve as Financial and Capital Markets Advisors, DLA Piper LLP serves as legal counsel, and BPM LLP serves as auditors to GigCapital2.

Needham and Company serves as exclusive financial advisor, Husch Blackwell LLP serves as legal counsel, and Plante Moran, PLLC serves as auditors to UpHealth. Sidley Austin LLP serves as legal counsel to Cloudbreak.

UpHealth is a global comprehensive digital health technology and tech-enabled services platform that empowers providers, health systems and payors globally to manage care for people with complex medical, behavioral and social needs, while dramatically improving access to primary care.

Cloudbreak Health advanced patient and provider communication with the introduction of video remote interpreting, establishing Cloudbreak as a pioneer in telehealth technology.

Cloudbreak Health continues to innovate with Cloudbreak Telehealth Solutions, including telepsychiatry, telestroke, tele-quarantine, remote patient monitoring and other specialties.

GigCapital Global is a Private-to-Public Equity investment group, sponsoring and operating special purpose acquisition companies.

Founded in 2017 by Dr. Avi Katz, the GigCapital Group and its sponsored SPACs are led by an affiliated team of technology industry experts.
Date Published: 10/06/2021