Going public by way of a SPAC (special purpose acquisition company) merger has become a highly popular maneuver for many companies in recent months and the latest to do that is SC Health Corp (NYSE: SCPE).
The company, which is involved in supplying integrated silicon photonic chips all over the world, announced this past Friday that it is going to go public through a SPAC merger. Rockley announced that it reached an agreement to merge with the SPAC SC Health Corp.
Following the completion of this transaction, the new entity is going to become a listed company on the New York Stock Exchange. The new entity is going to trade under the ticker symbol RKLY and is going to command a valuation of as big as $1.2 billion. This has resulted in considerable interest in the SC Health stock, which has started moving higher following the announcement. Investors could do well to keep an eye on it this week.
Editor and Computer Expert
A hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.