Pear Therapeutics and Thimble Point Announce Closing of Business Combination to Create Publicly Traded Prescription Digital Therapeutics Company

  • Publicly traded organization referred to as Pear Therapeutics, Inc. to start out investing on Nasdaq under ticker symbol “PEAR” starting December 6, 2021

BOSTON, December 03, 2021–(Company WIRE)–Pear Therapeutics, Inc. (“Pear Therapeutics”), the chief in creating and commercializing application-based mostly medications, called prescription digital therapeutics (PDTs), introduced nowadays the completion of its small business blend with Thimble Position Acquisition Corp. (“Thimble Issue”) (Nasdaq: THMA), a distinctive objective acquisition enterprise (“SPAC”). The publicly traded corporation will be regarded as Pear Therapeutics, Inc. and will start trading on Nasdaq less than the ticker image “PEAR” on December 6, 2021.

This press release functions multimedia. Look at the full launch listed here: https://www.businesswire.com/news/home/20211203005571/en/

Thimble Point’s shareholders authorized the company mix on November 30, 2021, and the transaction was beforehand authorized by Pear Therapeutics’ shareholders.

“My Pearmates and I are happy to proceed our management in the generation of prescription digital therapeutics,” said Corey McCann, M.D., Ph.D., Pear’s President and Main Executive Officer. “As a community business, we goal to accelerate our eyesight to maximize access to PDTs by more commercializing our 3 Fda-authorized PDTs, expanding community and private payer adoption, and advancing our pipeline of PDTs. Many thanks to all of our investors for supporting our productive transition.”

Net proceeds from the business enterprise mix will be employed to even more capitalize Pear’s category-main placement as the leader in application to take care of significant disease.

The transaction created approximately $175 million in gross proceeds.

About Pear Therapeutics
Pear Therapeutics, Inc., which is traded on Nasdaq as PEAR, is the mum or dad corporation of Pear Therapeutics (US), Inc. Pear is the leader in acquiring and commercializing computer software-primarily based medications, called prescription electronic therapeutics (PDTs). Pear aims to redefine care by the prevalent use of clinically validated software-based therapeutics to offer greater outcomes for people, smarter engagement and monitoring tools for clinicians, and expense-successful answers for payers. Pear has the very first stop-to-conclude system to uncover, produce, and produce PDTs to people and a pipeline of solutions and solution candidates across therapeutic parts, which includes the very first a few PDTs with disease treatment statements from the Food and drug administration. Pear’s products, reSET®, for the treatment method of compound use disorder, was the very first PDT to get advertising authorization from the Food and drug administration to deal with disorder. Pear’s next product, reSET-O®, for the procedure of opioid use condition, was the initially PDT to obtain Breakthrough Designation. Pear’s third product, Somryst® for the cure of continual sleeplessness, was the initially PDT submitted by means of FDA’s classic 510(k) pathway even though concurrently reviewed via FDA’s Software program Precertification Pilot Method. For more information, check out Pear at www.peartherapeutics.com.

Ahead-On the lookout Statements
Sure statements, estimates, targets and projections in this push launch might be regarded as forward-hunting statements in the which means of the federal securities legal guidelines. Forward on the lookout statements typically relate to long term gatherings or involving, or long term performance of, Pear. For case in point, statements relating to anticipated advancement in the market in which Pear operates and expected expansion in desire for Pear’s merchandise, and projections of Pear’s potential economical effects and other metrics are ahead-on the lookout statements. In some situations, you can recognize forward-searching statements by terminology these as “pro forma”, “could”, “should”, “could”, “may”, “strategy”, “doable”, “undertaking”, “try”, “budget”, “forecast”, “be expecting”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “likely” or “carry on”, or the negatives of these phrases or variations of them or identical terminology. These types of ahead-seeking statements are topic to challenges, uncertainties, and other variables which could cause true results to differ materially from those expressed or implied by this kind of forward looking statements.

These forward-searching statements are based on estimates and assumptions that, when viewed as acceptable by Pear and its management are inherently uncertain. Elements that could lead to genuine outcomes to differ materially from latest expectations contain, but are not minimal to: (i) the deficiency of a 3rd get together valuation in analyzing whether or not or not to pursue the proposed transaction (ii) the amount of the charges, costs, fees and other fees associated to the small business mix and non-public placement of equity securities (iii) the skill to acknowledge the anticipated added benefits of the business enterprise blend, which may possibly be impacted by, amongst other matters, opposition, the capacity of the put together enterprise to mature and take care of progress profitably, preserve relationships with consumers and suppliers and retain its management and key personnel (iv) modifications in relevant legislation or rules (v) the possibility that Pear could be adversely impacted by other financial, enterprise, regulatory, and/or aggressive elements (vi) Pear’s estimates of fees and profitability (vii) the evolution of the marketplaces in which Pear competes (viii) the skill of Pear to employ its strategic initiatives and keep on to innovate its current solutions (ix) the ability of Pear to protect its intellectual assets and satisfy regulatory demands (x) the skill of Pear to problem fairness or fairness-linked securities in the long term (xi) the impression of the COVID-19 pandemic on Pear’s organization and (xii) other challenges and uncertainties set forth in Pear’s upcoming filings with the SEC. These filings will determine and address other essential pitfalls and uncertainties that could lead to precise gatherings and outcomes to differ materially from those contained in the ahead-seeking statements.

Viewers are cautioned not to place undue reliance on forward-hunting statements, and Pear assumes no obligation and does not intend to update or revise these ahead-looking statements, no matter if as a outcome of new information and facts, potential activities, or normally. Pear presents no assurance that Pear will achieve its anticipations. The inclusion of any assertion in this conversation does not constitute an admission by Pear or any other individual that the functions or instances described in these statement are substance.

Non-Solicitation
This push release does not represent (i) a solicitation of a proxy, consent or authorization with regard to any securities or in regard of the Enterprise Mix or (ii) an present to market, a solicitation of an offer to get, or a advice to invest in any security of Pear, or any of its respective affiliate marketers. No such providing or securities shall be made apart from by usually means of a prospectus meeting the needs of Portion 10 of the Securities Act of 1933, as amended.

View supply version on businesswire.com: https://www.businesswire.com/news/house/20211203005571/en/

Contacts

Pear Therapeutics Media and Investors:

Meara Murphy
Senior Director of Corporate Communications
[email protected]

Argot Partners
[email protected]

Golin
[email protected]

Candice Cearley

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