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Palihapitiya-Led SPAC to Merge With Akili in $1 Billion Deal

  • Akili has developed a video game to treat attention disorders
  • Transaction also includes a PIPE funding of $162 million

Akili Interactive, a startup that has developed a video game to help treat attention-deficit disorders in kids, has agreed to go public through a merger with one of Chamath Palihapitiya’s blank-check companies.

The deal, which confirms a Bloomberg News report, values the combined entity at about $1 billion, Akili and Social Capital Suvretta Holdings Corp. I said in a statement seen by Bloomberg. It will provide as much as $412 million in gross cash proceeds, the companies said.