Vicarious Surgical’s $1.1 Billion SPAC Merger with D8 Holdings Corp.

Mintz advised Vicarious Surgical Inc. on the deal.

Vicarious Surgical Inc., a next-generation robotics technology company seeking to improve both cost and efficiency of surgical procedures as well as patient outcomes, announced its proposed business combination with D8 Holdings Corp. (NYSE: DEH), a special purpose acquisition company (SPAC). The combined company is valued at $1.1 billion, and the transaction is expected to deliver up to $460 million of gross proceeds. The transaction is supported by a $115 million private investment in public equity (PIPE), which includes investment by medical technology company BD, Bill Gates, and venture capital companies Khosla Ventures, Innovation Endeavors, and E15 VC. Upon closing of the transaction, which is expected to take place in the third quarter of 2021, the combined company will be listed on the New York Stock Exchange (NYSE) with ticker symbol “RBOT”.

Founded in 2014 and headquartered in Charlestown, Mass., Vicarious Surgical is a next generation robotics company developing a disruptive technology with the goals of increasing the efficiency of surgical procedures, improving patient outcomes, and reducing healthcare costs. The company’s novel surgical approach uses a combination of proprietary human-like surgical robots and virtual reality to transport surgeons inside the patient to perform minimally invasive surgery. Vicarious Surgical’s technology was granted Breakthrough Device Designation by the U.S. Food and Drug Administration (FDA), making it the first, and only, surgical robot to receive this designation from the FDA. The company is led by an experienced team of technologists, medical device professionals, and physicians, and is backed by several leading technology investors.

The Mintz team advising Vicarious Surgical in the transaction is led by Members Ed Pease (Picture) and Andy Thorpe and includes Members Larry Naughton, Avi Reshtick, and Jessica Catlow, and Associates Will Bussiere, Julianne DeLeo, Zane Polston, John Yates, and Kevin Yao.

Involved fees earner: William Bussiere – Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo; Jessica Catlow – Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo; Julianne DeLeo – Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo; Larry Naughton – Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo; Ed Pease – Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo; Zane Polston – Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo; Andrew Thorpe – Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo; Kevin Yao – Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo; John Yates – Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo;

Law Firms: Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo;

Clients: Vicarious Surgical Inc.;

Print Friendly, PDF & Email
Martina Bellini

Author: Martina Bellini