Thimble Point and Pear Therapeutics Announce Additional $50 Million in Committed Capital to Fund Business Plan
Thimble Point Acquisition Corp, Inc. (NASDAQ: THMA), Pear Therapeutics, Inc., the leader in developing and commercializing software to treat serious disease, called prescription digital therapeutics (PDTs), jointly announced an additional commitment from an affiliate of Thimble Point’s sponsor of up to $50 million.
Such commitment is in addition to the $23 million commitment that the affiliate of Thimble Point’s sponsor made as part of the private placement that is to be consummated in connection with the business combination (the “PIPE”).
Together, the minimum gross amounts from the PIPE and by the affiliate of Thimble Point’s sponsor are expected to be $175 million.
In connection with the revised definitive agreements, Pear has agreed to waive the requirement that total cash proceeds equal or exceed $200 million.
Additionally, today, Pear also announced that it had secured six-month lock-up agreements covering approximately 82.4% of the shares to be issued in connection with the previously announced $125 million PIPE, in each case subject to customary exceptions. No compensation was paid in connection with the entry into of such lock-up agreements.Read more