Mountain Crest Acquisition Corp II Completes Business Combination with Better Therapeutics
October 29, 2021
Mountain Crest Acquisition Corp II completed a business combination with Better Therapeutics, taking the prescription digital therapeutics company public on Nasdaq under the ticker BTTX. The transaction generated approximately $70 million in gross proceeds (including a PIPE led by Farallon Capital Management, RS Investments, Sectoral Asset Management and Monashee Investment Management) and included a contingent credit facility from Hercules Capital to fund clinical development and regulatory efforts for Better Therapeutics' lead product, BT-001.
- Buyers
- Mountain Crest Acquisition Corp II, Farallon Capital Management, RS Investments, Sectoral Asset Management, Monashee Investment Management
- Targets
- Better Therapeutics, Inc.
- Industry
- Healthcare Services
- Location
- California, United States
- Transaction Type
- Recapitalization
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