HeartFlow - Longview Acquisition SPAC Deal Called Off

HeartFlow Holding Inc and a special purpose acquisition company, Longview Acquisition Corp II (NYSE: LGV), have called off merger plans that would have taken the cardiac test company public.

• HeartFlow described the move as a mutual decision a "result of current unfavorable market conditions."

• Affiliates of Glenview Capital Management sponsored Longview.

• When HeartFlow and Longview announced the SPAC deal plans in July 2021, the merger was valued at .4 billion, with an estimated $400 million in cash after closing.

• HeartFlow anticipated $599 million of gross proceeds to accelerate the growth of its non-invasive, personalized cardiac tests.

• The company's non-invasive HeartFlow FFRCT analysis uses artificial intelligence to create a personalized three-dimensional heart model.

• Clinicians can use the model to evaluate the impact a blockage has on blood flow and determine the best treatment for patients.

• The company's HeartFlow Analysis is commercially available in the U.S., the U.K., Canada, Europe, and Japan.

• Price Action: LGV shares closed 0.21% higher at $9.73 on Friday.

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