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Sharecare, a digital health company, has completed its business combination with Falcon Capital Acquisition Corp (NASDAQ: FCAC), approved by 97% of Falcon's shareholders. The merger, effective July 2, 2021, will enable Sharecare to trade under the symbol "SHCR." The transaction provides Sharecare with over $571 million in gross proceeds, which will support product development and expansion. Sharecare aims to enhance healthcare engagement and innovation while maintaining a debt-free status. The collaboration with Anthem, Inc. will further develop affordable health solutions.
On June 29, 2021, Falcon Capital Acquisition Corp. announced that over 97% of shareholders approved the proposed business combination with Sharecare, Inc. The Board of Directors recommended this move, which includes amending the certificate of incorporation to change the company's name to Sharecare, Inc. and increase authorized shares to 615 million. The Business Combination is expected to close on July 1, 2021, with trading under new symbols 'SHCR' and 'SHCRW' beginning on July 2, 2021. This merger aims to enhance Sharecare's digital health platform.
Sharecare and Forbes Travel Guide have partnered with Celebrity Cruises, making it the first cruise line to adopt the Sharecare Health Security VERIFIED™ system. This initiative aims to enhance safety protocols and mitigate COVID-19 risks on its ships. The program supplements Celebrity's existing 'Healthy at Sea' measures, providing real-time tracking of health compliance. Each ship will be continuously verified before passenger boarding to ensure rigorous health standards. This collaboration marks a significant step in restoring traveler confidence and setting new industry standards for health security.
Sharecare, a digital health company, announced the 56 finalists for the 2021 Sharecare Awards, recognizing excellence in health and wellness programming. The awards, partnered with the National Academy of Television Arts & Sciences, feature categories like behavioral health, chronic conditions, and COVID-19 response. Public voting for the Sharing Care Award is open until June 30, 2021, with winners announced in the fall. Donna Hill Howes, Sharecare's CNO, highlights the diverse talent represented among the finalists.
On June 3, 2021, Falcon Capital Acquisition Corp. (Nasdaq: FCAC, FCACU) announced the SEC's approval of its Form S-4 registration statement related to its upcoming business combination with Sharecare, Inc. The definitive proxy statement/prospectus has been sent to stockholders for review ahead of a Special Meeting scheduled for June 29, 2021. Stockholders on record as of May 10, 2021, will vote on this merger, allowing Falcon to officially combine with Sharecare, a digital health firm focused on optimizing health management.
Sharecare reported Q1 2021 financial results, showing revenue of $89.6 million, up 9% from the previous year. Adjusted EBITDA rose 96% to $6.5 million, while net loss increased to $32.0 million due to non-cash expenses. The company announced significant operational milestones, including expanded client relationships and new health products. Sharecare projects Q2 revenue between $96.5 million to $98.5 million, indicating over 22% growth year-over-year, and reiterates FY 2021 revenue guidance of $408 million.
Sharecare, a leading digital health company, announced that its founder and CEO, Jeff Arnold, will participate in a virtual chat at the Goldman Sachs 42nd Annual Global Healthcare Conference on June 9, 2021, at 8:50 a.m. EDT. This follows Sharecare's merger agreement with Falcon Capital Acquisition Corp. (NASDAQ: FCAC), expected to finalize in Q2 2021, subject to stockholder approval. The new entity will be listed on NASDAQ as SHCR. A recording of Arnold's presentation will be available on the company's investor relations site.
Sharecare has enhanced its Health Security VERIFIED™ solution for sports and entertainment venues, collaborating with CAA ICON and Oak View Group. This solution aims to restore fan confidence amid COVID-19 by ensuring venues adhere to over 140 expert-validated health standards across 600 checkpoints. Venues undergo a verification process involving self-attestation and third-party evaluations. Once verified, venues receive a Sharecare VERIFIED™ badge, signaling their commitment to health safety. Notable venues adopting this solution include Climate Pledge Arena and UBS Arena, enhancing health protocols for visitors.
