Vicarious Surgical Inc. (“Vicarious Surgical” or the “Company”), a next-generation robotics technology company seeking to improve both cost and efficiency of surgical procedures as well as patient outcomes, and D8 Holdings Corp. (“D8”) (NYSE: DEH), a special purpose acquisition company, have announced that they have secured $27 million in additional commitments for a private placement of common stock (“PIPE”) in support of their business combination transaction, bringing the aggregate amount of PIPE commitments to $142 million, and the total anticipated gross proceeds of the business combination to approximately $487 million (assuming no redemptions). The additional commitments ensure that D8 will satisfy the closing condition that D8 has at least $125 million of available cash from D8’s trust account and proceeds from the PIPE at the closing.
The total $142 million PIPE is funded by multiple strategic investors including global medical technology company BD (Becton, Dickinson and Company) (NYSE: BDX), major hospital groups in the U.S. and Asia, and surgical robotics pioneer Roberta Lipson, founder of United Family Healthcare and its predecessor Chindex International Inc. and CEO of New Frontier Health Corporation (NYSE: NFH). Technology luminaries and longtime investors Bill Gates, Vinod Khosla’s Khosla Ventures, Eric Schmidt’s Innovation Endeavors, Sun Hung Kai & Co. and Philip Liang’s E15 VC are also investing.
“We are pleased to see additional demand from both new and existing investors as we approach the closing of our business combination with D8,” said Adam Sachs, CEO and co-founder of Vicarious Surgical. “We see a very bright future for Vicarious Surgical as we challenge cost with a system designed to provide improved access, surgical capability, and visualization to patients and providers in both the U.S. and international markets. Our mission and vision are backed with global institutional support, multiple large-scale strategic partners, and investment from distinguished healthcare executives with deep experience in driving adoption of surgical robotics.”
1 As of the date of this press release, Vicarious Surgical is not aware of any surgical robotics company that has announced receiving Breakthrough Designation for a full robotics system.
Source: Vicarious Surgical.