Quantum-Si Incorporated (QSi), a specialist in next-generation semiconductor chip-based proteomics, has completed its business combination with HighCape Capital Acquisition Corp (HighCape), a special purpose acquisition company sponsored by leading healthcare growth equity manager HighCape Capital LP.
The business combination and concurrent private placement, which were approved by HighCape’s stockholders at its special meeting held on 9 June, 2021, provide over USD500 million to fund the further development and planned commercialization of the company’s single-molecule, semiconductor chip-based protein sequencing and genomics technology.
Following the transaction, the combined company was renamed Quantum-Si Incorporated, and its Class A common stock and warrants will begin trading on the Nasdaq Global Market (Nasdaq) on 11 June, 2021 under the symbols “QSI” and “QSIAW,” respectively.
As a result of the business combination, QSi received approximately USD534 million prior to transaction fees, including approximately USD109 million of cash held in HighCape’s trust account and USD425 million from private placement (PIPE) investors, including Foresite Capital Management, LLC, Eldridge, accounts advised by ARK Invest, and Glenview Capital Management, LLC. In addition, QSi’s current management team and existing stockholders have rolled 100 per cent of their equity into the combined company.
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