Ropes & Gray advised Longview Acquisition Corp, an affiliate of Glenview Capital Management, in its merger with Butterfly Network. The Pro Forma enterprise value of Butterfly Network is $1.5 billion, with the combined company expected to have an estimated $584 million in cash after closing. The transaction was announced on Nov. 20. The press release is here.
Butterfly Network is an innovative digital health company that is working to enable universal access to superior medical imaging. Longview Acquisition Corp. is an affiliate of leading healthcare investment firm Glenview Capital Management, which is expected to own, along with its affiliates, 7.6% of the combined company's outstanding shares at closing.
The Ropes & Gray team that represented Longview Acquisition Corp. was led by mergers & acquisitions partner Carl Marcellino (New York), and included securities partners Paul Tropp and Rachel Phillips (both of New York), mergers & acquisitions partner Regina Sam Penti, employment, executive compensation & benefits partner Loretta Richard, tax partner Elaine Murphy (all of Boston), and life sciences, regulatory & compliance partner Kellie Combs (Washington D.C.)., and mergers & acquisitions associate Lisa Folkerth (Boston).
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