GigCapital2 Secures $285 Million from Institutional Investors in Connection with its Business Combination with UpHealth Holdings

SAN FRANCISCO & PALO ALTO, Calif.--(BUSINESS WIRE)--UpHealth Holdings Inc. (“UpHealth”), an integrated global platform serving four large digital health markets, today announced that, in connection with its previously announced business combination with GigCapital2, Inc. (“GigCapital2”) (NYSE: GIX), GigCapital2 raised $285 million from institutional investors, in a mix of equity and convertible debt. This private placement includes an aggregate of 3,000,000 shares of GigCapital2 common stock at $10.00 per share and $255,000,000 of 5-year unsecured convertible notes which shall bear interest at a rate of 6.25% per annum, and are convertible into common shares of the combined company, UpHealth, Inc., at a conversion price of $11.50.