Sharecare to be Acquired by Altaris, LLC

Sharecare (NASDAQ: SHCR) announced its definitive agreement to be acquired by Altaris, LLC, an investment firm exclusively focused on the healthcare industry. Under the terms of the agreement, Sharecare stockholders will receive $1.43 in cash per share, representing a premium of approximately 85% over the closing price of Sharecare on the last trading day prior to public disclosure of the transaction.

Upon the completion of the acquisition, Sharecare will become a privately held company and its common stock will no longer be listed on NASDAQ. Sharecare's comprehensive and data-driven virtual health platform is designed to help people, providers, employers, health plans, government organizations, and communities optimize individual and population-wide health and well-being.

The transaction is expected to close in the second half of 2024, subject to customary closing conditions, including approval by Sharecare stockholders and the receipt of required regulatory approvals. Sharecare's founder and executive chairman of the board of directors, Jeff Arnold, has agreed to vote his shares in favor of the transaction and will continue to serve as executive chairman following the transaction.

Sharecare's current executive leadership team is expected to continue in their roles following the close of the transaction. Advisors to the special committee of Sharecare's board of directors include Houlihan Lokey and MTS Health Partners as financial advisors, and Wachtell, Lipton, Rosen & Katz as legal advisor. Kirkland & Ellis LLP is acting as legal advisor to Altaris, and King & Spalding LLC is acting as legal advisor to Jeff Arnold.

Altaris is an investment firm exclusively focused on the healthcare industry, managing approximately $10 billion of equity capital and seeking to build market-leading companies that deliver innovation and efficiency to the healthcare system. As a result of these announcements, the company's shares have moved 76.9% on the market, and are now trading at a price of $1.37. For the full picture, make sure to review Sharecare's 8-K report.

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