Today, their products are commercially available in 40 different countries including the United States, Canada, Australia, New Zealand, and throughout greater Europe. 1-855-296-6188 Longview is a special purpose acquisition company (SPAC), which have been all the rage this year. 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. Butterfly Network Stock – A Play on Portable Ultrasounds. The deal hasn’t even settled yet, and the Robinhood trader types are already hyping the stock. Here's how: Navigate to our online store. Longview Acquisition Corp. John Rodin info@longviewacquisition.com. 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. Required fields are marked *. 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? Guilford-based health technology startup Butterfly Network Inc., maker of a portable, pocket-sized ultrasound device, is merging with hedge fund-backed Longview Acquisition Corp. and going public. Stryker, Medtronic, and Johnson & Johnson are all companies found in our dividend growth investing strategy, Quantigence. For newbie investors, there’s an inclination to take on lots of risk in exchange for a great story. We’ve noted alerting in our product roadmap and appreciate the feedback. Institutional investors thought a fair price was around $10 per share, and that’s what we think retail investors should pay as well. Save my name, email, and website in this browser for the next time I comment. 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. The SPAC was announced on November 20th. Lots of investments are being made in shoring up their intellectual property portfolio. People who hold shares already are happy to sell them for a quick gain. Butterfly Network has raised $350 m in total funding. Investors who get on board should pay attention to management’s ability to hit these targets. So, if you want alerting for SPACs, we wouldn’t be able to get an alert out fast enough for anyone to take advantage of. Regarding SPACs, this is a very unique case. Butterfly Network is funded by 6 investors. As with other SPACs, there are the usual forward-looking revenue growth estimates that help justify the company’s valuation against other publicly traded firms with lofty valuations. We really wish SPACs would go away already because they present too many complications that aren’t found with traditional IPOs. For example, we advise readers to never try and time the market, but we’ll occasionally engage in the practice ourselves. Information on valuation, funding, cap tables, investors, and executives for Butterfly Network. Such is the case with Butterfly Network. We did this on a few trades but nothing after that because it really is quite speculative and we’re investors, not speculators. (Traditional cart-based equipment typically ranges from $45,000 to $60,000 per new device in the mid-range.). Butterfly sold and shipped approximately 12,900 devices in the year ended December 31, 2019, and approximately 12,500 devices in the nine months ended September 30, 2020. Butterfly Network, Inc. Mike Cavanaugh or Mark Klausner Westwicke, an ICR Company (646) 677-1838 investors@butterflynetwork.com. When Alteryx dumped -40%, we couldn’t help but open a position. In finance, they call these “risk-adjusted returns,” and everyone will have a different tolerance for risk. Want to see the rest? Company profile page for Butterfly Network Inc including stock price, company news, press releases, executives, board members, and contact information Existing Butterfly investors Baillie Gifford, the Bill and Melinda Gates Foundation, and Fosun Industrial will have their current shares converted into equity in the new company at a ratio of 1 for 1.0383 per share. Looking for a portable ultrasound machine? We would categorize Butterfly Network as being in the business of medical devices. Once the deal goes through, shares will trade under the ticker BFLY. Considering the founder, Jonathan Rothberg, is a serial entrepreneur who founded more than 10 healthcare/technology companies, including 454 Life Sciences, Ion Torrent, and CuraGen, seems likely they’ll hit these aggressive revenue growth numbers. The Butterfly Network SPAC checks the first two bullet points, but not the last one. About Butterfly Network Stock Butterfly Network designs the Butterfly iQ, a handheld single-probe whole-body ultrasound system that connects to a mobile phone or tablet. Butterfly Network, Guilford, Conn., will be listed on the New York Stock Exchange under the ticker symbol BFLY. In this case, we have a quality company that – at least from where we sit – is inaccessible because shares are being bid up when the deal hasn’t even closed. The SPAC vehicle is not inherently bad, it’s the pre-revenue companies that typically use SPACs which we’re not big fans of. Evan is a senior technology specialist at The Motley Fool. Butterfly Network, Inc. Sean Leous Westwicke, an ICR Company (646) … In the U.S., Butterfly has made sales to or has agreements with most of the top 100 U.S. healthcare systems. Last we looked, the acquiring company’s shares were trading at a 65% premium. That means one probe that can emulate any transducer–linear, curved or phased. Butterfly Network founder Dr. John Rothberg will be the largest shareholder of the new company. What’s the total addressable market here? No telling what the price point will be for that offering, but the iQ+ is currently being offered for $1,999 on their home page. The deal values Butterfly Network at $1.5 billion. Use the PitchBook Platform to explore the full profile. Founder Jonathan Rothberg will become chairman of the new company and wield controlling voting power through supervoting Class B shares that receive 20 votes per share. Do as I say, not as I do. Our handheld ultrasound device is easy to use, works with iPhone and Android and fits in your pocket. The alerting business around SPACs isn ’ t even settled yet, and executives for Butterfly Network the to... Publish this kind of news earlier, maybe first in short form ( high-level and! 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