Winston & Strawn Represents the Placement Agents in Connection with the Business Combination Between Alpha Tau Medical Limited and Healthcare Capital Corp.

Winston & Strawn represented the placement agents in connection with the business combination between Alpha Tau Medical Limited ("Alpha Tau"), the developer of the pioneering alpha-radiation cancer therapy Alpha DaRT™, and Healthcare Capital Corp. ("HCC") (Nasdaq: HCCC), a special purpose acquisition company. The business combination values Alpha Tau at an implied pre-money equity value of $600 million, and is expected to add approximately $337 million of cash to its balance sheet upon closing, inclusive of $275 million in HCC's trust (assuming no redemptions by public shareholders) and $92 million in PIPE proceeds, net of transaction expenses.

All existing Alpha Tau shareholders will retain 100% of their current equity holdings and are expected to hold approximately 59% of the pro forma company immediately following the closing.  Following the closing of the business combination, Alpha Tau is expected to be listed on the Nasdaq. The completion of this transaction will allow the company to realize its vision and implement the clinical development plans and construction of manufacturing plants around the world and ensures they are well capitalized to accelerate ambitious plans across multiple fronts.

Proceeds of the business combination and the PIPE will be primarily used to:

•            advance ongoing, and launch, new clinical trials;

•            continue existing, and initiate additional, clinical and research collaborations;

•            develop and expand global manufacturing capacity;

•            develop KOL centers of excellence; and

•            prepare for commercialization efforts.

Press Release: https://www.prnewswire.com/news-releases/alpha-tau-and-healthcare-capital-corp-to-combine-and-create-a-publicly-traded-company-focused-on-transforming-the-treatment-of-solid-tumors-through-the-precision-delivery-of-alpha-radiation-301327870.html

Winston Team:

•            Mike Blankenship, Lead Partner, Houston

•            Alex Tanner, Associate, Houston

•            Aaron Walker, Associate, Dallas