All images produced by the devices are stored in â€œthe cloud” where deep learning algorithms study them and learn how to diagnose medical problems. Butterfly Network, a global leader in democratizing medical imaging, to be listed on NYSE through a merger with Longview Acquisition Corp. Butterfly Network’s mission is to enable universal access to superior medical imaging, making high quality ultrasound affordable, easy-to-use, globally accessible and intelligently connected. You can generate a quote yourself. Butterfly Network, Guilford, Conn., will be listed on the New York Stock Exchange under the ticker symbol BFLY. butterflynetwork.com | Healthcare | Founded: 2011 | Funding to Date: $370,761,699 Provider of a medical device designed to make medical imaging accessible to everyone for diagnosis and monitoring. The Butterfly filing lists their primary competitors as the top five manufacturers of legacy cart-based incumbent ultrasound devices – General Electric, Philips Healthcare, Canon Medical Systems, Hitachi, and Siemens Healthineers. A Handheld Ultrasound Device for Your Smartphone, https://www.nanalyze.com/2020/07/spacs-retail-investors/. Learn more about iQ+ Butterfly Network, Inc. Sean Leous Westwicke, an ICR Company (646) … It used to be (probably not now) a good way to make a few quick dollars with minimal downside risk. Longview Acquisition Corp. John Rodin info@longviewacquisition.com. The transaction, which is expected to raise $589 million in gross proceeds, values Butterfly Network at an enterprise value of $1.5 billion. We certainly wouldn’t want to alert on simply rumors (that’s how most of these start). Butterfly Network, the maker of a $2,000 handheld ultrasound device, has raised $250 million from large private investors. A reader recently questioned why we invested in Desktop Metal while at the same time constantly criticizing the mechanics of SPACs. When there is a company going public via SPAC that we might like to invest in, usually hype drives the shares skyward before the deal even goes through. Butterfly Network, Inc. Sean Leous Westwicke, an ICR Company (646) 866-4012 If you're in a country where we are available, you can purchase a probe in the Butterfly Store.. How can I get a quote? We can work to get these SPAC pieces out sooner, but we often need to wait for them to file sufficient information so we can write an informative piece. Market data powered by FactSet and Web Financial Group. BUTTERFLY - BUY AT CURRENT LEVELS 183-180 FOR PULLBACK BUTTERFLY MADE A RECENT HIGH OF AROUND 212 AND SINCE THEN SHOWING CORRECTION NIFTY ALSO WAS DOWN 100 PTS TODAY. In the U.S., Butterfly has made sales to or has agreements with most of the top 100 U.S. healthcare systems. Bill & Melinda Gates Foundation and Fosun Pharma are the most recent investors. According to the company, Butterfly iQ is “the only ultrasound transducer that can perform whole-body imaging in a single handheld probe using semiconductor technology.” Their latest Butterfly iQ+ device connects directly to an iPhone or Android smartphone and tablet to provide its imaging and software features for more than two consecutive hours, while charging to full battery in approximately five hours. Upon closing, the combined company's Class A common stock is expected to be traded on the New York Stock … Do as I say, not as I do. Returns as of 12/18/2020. Butterfly Network is funded by 6 investors. Shares of Longview Acquisition (NYSE:LGVW) jumped today, up by 21% as of 12:50 p.m. EST, after the company announced its acquisition target. The company is forecasting revenue to grow from $44 million in 2020 to $334 million in 2024. Lots of investments are being made in shoring up their intellectual property portfolio. Call. Let's conquer your financial goals together...faster. We’ve noted this as a possible feature for our premium subscribers going forward. For the sake of argument, let’s pretend the price of shares falls back to $11.00 and we’re paying a more reasonable premium of 10% – or ideally, no … Butterfly Network has raised a total of $370 million in funding from investors including the Bill & Melinda Gates Foundation, ... Stock Quotes, and Market Data and Analysis. Wait for the dust to settle. The SPAC Deal: Butterfly Network, a handheld portable ultrasound company, is merging with Longview Acquisition Corp (NYSE: LGVW). Longview will merge with Butterfly Network, a digital health company that provides access to medical imaging such as ultrasounds. Evan graduated from the University of Texas at Austin, and is a CFA charterholder. 1-855-296-6188 The company's medical imaging device is portable, cheap and provides high-quality ultrasound on … ; Select the Butterfly iQ or Butterfly iQ Vet in the store. The question then becomes how an investment in Butterfly Network fits into our broader portfolio of tech stocks and dividend growth stocks. Use the PitchBook Platform to explore the full profile. Butterfly Network's mission is to make ultrasound technology universally accessible and affordable through the sale of its iQ product and … During 2019 and for the nine months ended September 30, 2020, approximately 13% and 28%, respectively, of Butterfly’s product and service revenue was generated from customers located outside of the United States. We really wish SPACs would go away already because they present too many complications that aren’t found with traditional IPOs. Want to see the rest? No existing shareholders will be selling any equity as part of the transaction. He was previously a senior trading specialist at Charles Schwab, and worked briefly at Tesla. Our handheld ultrasound device is easy to use, works with iPhone and Android and fits in your pocket. For those who decide to pull the trigger on the Butterfly Network SPAC, here are some key metrics to watch. How can I buy a Butterfly iQ? While there are other companies offering handheld ultrasound units like Philips Lumify, the overall market penetration for handheld devices is quite low at less than 3% globally. The merger is expected to close in the first quarter of 2021. People who want to go long the company that’s being absorbed by the SPAC are in a bad position because they need to pay a hype premium. The shares only traded at a small premium to what institutional investors paid. 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