Hudson Executive (HEC) Shareholders Approve Talkspace Deal
by Marlena Haddad on 2021-06-17 at 12:27pm

Hudson Executive Investment Corp. (NASDAQ:HEC) shareholders announced in a press release today that its shareholders approved its combination with virtual behavioral healthcare company Talkspace at a special meeting earlier today.

The press release did not mention redemption amounts, but stated that 94.51% of the votes cast, representing approximately 74.05% of HEIC’s outstanding shares, voted to approve the business combination with Talkspace.

The parties now expect to close the deal June 22, after which its shares and warrants will trade on the Nasdaq under the symbols “TALK” and “TALKW,” respectively, on June 23.

It comes as no surprise that the virtual mental health provider did well during the COVID pandemic where many were faced with lockdowns and quarantine.   Talkspace delivered a strong Q1 2021 for operational and financial results as its net revenue grew by 144% year-over-year to $27.2 million.  Total active members grew by 110% during this same time period as individuals and employers’ attitudes shifted to focus on mental health. However, today’s meeting did not seem to settle well with investors as HEC plummeted over 5.7% to $9.23 following the announcement.

Hudson Executive and Talkspace initially inked its $1.4 billion deal on January 13. Talkspace connects users to licensed mental health care providers through a web and mobile platform and can also provide psychiatric services and prescription fulfillment.


  • J.P. Morgan Securities LLC acted as lead financial advisor to Talkspace.
  • Jefferies acted as financial advisor to Talkspace.
  • Latham & Watkins LLP acted as legal counsel to Talkspace.
  • Citigroup Inc and J.P. Morgan Securities LLC acted as capital markets advisors and placement agents.
  • Citigroup acted as financial advisor to Hudson Executive Investment Corp.
  • Milbank LLP acted as legal counsel to Hudson Executive Investment Corp.
Recent Posts
by Kristi Marvin on 2024-06-22 at 11:30am

Terms Tracker for the Week Ending June 21, 2024 Programming Note: An abbreviated version of the Terms Tracker will be posted next week.  In light of the end of the quarter, we will be busy putting together our Half-Year report which should be posted the first week of July.  Welcome to our weekly column where...

by Nicholas Alan Clayton on 2024-06-21 at 11:46am

Future Vision II (NASDAQ:FVNNU) has filed for a $50 million IPO to hunt for a TMT target in Asia including intelligent chips, 5G and other emerging technologies there. Given the heightened competition and trade protectionism around these technologies lately, it is interesting that Future Vision II hasn’t ruled out combining with a Chinese target. In...

by Nicholas Alan Clayton on 2024-06-21 at 8:12am

At the SPAC of Dawn Every public company wants retail investor engagement, but once brought along, those investors require a bit of educating as well. Nuclear fission firm Oklo (NYSE:OKLO) is discovering that this week as it made a point to put out a press release explaining that its most recent S-1 filing was a...

by Nicholas Alan Clayton on 2024-06-20 at 3:41pm

Voyager (NASDAQ:VASHU) has filed for a SPAC IPO featuring many of the now increasingly familiar terms pushed by underwriter Cantor Fitzgerald over the past month, but does include a novel dollar figure for its raise at $261 million, before any over-allotments. Outside of this, Voyager’s trust is funded to 100.00% with $10.00 per unit to...

by Kristi Marvin on 2024-06-20 at 12:29pm

Eleven new SPACs have filed since the beginning of June, and the number is 12 if we count the May 31st filing of Graf Global Corp.  Seven of those 12 are being underwritten by Cantor, which has always been a very active SPAC underwriter. But you know who else used to be very active? Credit...


Copyright © 2023 SPACInsider, Inc. All Rights Reserved