Better Therapeutics announced today that it will go public through a $113 million merger with Mountain Crest Acquisition Corp II
Mountain Crest, a publicly-traded, special purpose acquisition corporation (SPAC), will acquire Better Therapeutics in a deal expected to be completed in the summer of this year, with the company continuing to operate as Better Therapeutics while being listed on the Nasdaq under the BTTX ticker, according to a news release.
The transaction values Better Therapeutics, which develops prescription digital therapeutics (PDTs) designed to address the root causes of cardiometabolic diseases, namely Type 2 diabetes, at $187 million. Existing shareholders in the company will roll over 100% of their equity into the combined company.
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