Digital primary care company Babylon today announced that it has agreed to sell 145,885,760 Class A shares to institutional and other accredited investors in a private investment in public equity at $0.42122 per share.
The initial subscribers include the two largest existing Babylon institutional investors: entities affiliated with Kinnevik AB and VNV Global AB. Babylon anticipates that the gross proceeds from the Initial Subscriptions will be $61.45 million before deducting offering expenses.
Prior to the closing of the PIPE, Babylon in a press release said it may execute subscription agreements with additional institutional and other accredited investors, or for additional amounts from the initial subscribers.
Babylon is building an integrated digital-first primary care service that can manage population health at scale. Read more.
