Alkuri Global Acquisition Corp - Ordinary Shares - Class A

NASDAQ:KURI   3:54:12 PM EDT
9.90
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Debt Financing / Related, Mergers / Acquisitions, Equity Financing / Related

Babylon Announces Plans To Become A Public Company Via $4.2 Billion Merger With Alkuri Global Acquisition Corp.

Published: 06/03/2021 13:48 GMT
Alkuri Global Acquisition Corp - Ordinary Shares - Class A (KURI) - Babylon, a World Leading, Digital-first, Value-based Care Company, Announces Plans to Become a Public Company Via $4.2 Billion Merger With Alkuri Global Acquisition Corp.
Alkuri Global Acquisition Corp - Transaction is Expected to Deliver Up to $575 Million of Gross Proceeds to Fund Babylon's Pro Forma Balance Sheet.
Alkuri Global Acquisition Corp - Babylon Founder and CEO Ali Parsa Will Become Chairman and CEO of Combined Entity.
Alkuri Global Acquisition Corp - Combination is Further Supported by a $230 Million Private Placement.
Alkuri Global Acquisition Corp - Additional Participation in Deal From Ali Parsa, Alkuri Sponsor Llc and Existing Babylon Investors Kinnevik and Vnv.
Alkuri Global Acquisition Corp - Agreement is Expected to Reduce Babylon's Cash Needs by Approximately $40 Million.
Alkuri Global Acquisition Corp - an Alkuri Global Representative Will Join Babylon Board of Directors.
Alkuri Global Acquisition Corp - Existing Babylon Shareholders Will Roll 100% of Equity Into Combined Co & Will Own About 84% of Pro Forma Co at Closing.
Alkuri Global Acquisition Corp - Following Closing of Proposed Business Combination, Babylon Will Retain Its Experienced Management Team.