GigCapital2 Announces $285M Capital Raise as Part of Business Combination With UpHealth Holdings, Inc. and Cloudbreak Health, LLC

Cloudbreak Health, LLC (“Cloudbreak”), a leading telehealth and video remote interpretation solutions provider, today announced that GigCapital2, Inc. (“GigCapital2”) (NYSE:GIX) has raised $285 million for its previously announced business combinations with UpHealth Holdings, Inc. (“UpHealth”) and Cloudbreak. This capital raise 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.