Butterfly Network announced that it entered into a definitive business combination agreement and will go public with Longview Acquisition Corp.
Upon the closing of the deal between Butterfly, a medical imaging technology developer, and Longview, a special purpose acquisition company, the combined company’s Class A common stock is expected to be traded on the New York Stock Exchange under the “BFLY” ticker, according to a news release.
Butterfly develops the Butterfly iQ system, a transducer using semiconductor technology that can perform whole-body imaging using a single handheld probe. Powered by Butterfly’s proprietary Ultrasound-on-Chip technology, it connects to a mobile device and uses AI to deliver advanced imaging.
The Butterfly iQ platform is commercially available in more than 20 countries, the company said, including the U.S., Canada, Australia and much of Europe.
Butterfly CEO Laurent Faracci will continue to lead the combined company upon the completion of the merger, while Dr. Jonathan Rothberg will serve as chairman of the combined company’s board. Longview chairman Larry Robbins will also become a member of the board.
“Nine years ago, Butterfly was created to make high-quality ultrasound affordable, easy to use and globally accessible to all,” Rothberg said in the release. “My pride in our team’s innovation and my gratitude to our partners for their funding and support are only matched by my enthusiasm to realize Butterfly Network’s enormous potential. We are pleased to welcome Longview as well as the PIPE investors to the Butterfly family, and we appreciate the support of the public markets in funding our commercial and societal goals.”
Original Article: (https://www.massdevice.com/butterfly-network-to-go-public-via-merger/)