Alpha Tau Medical Ltd. and Healthcare Capital Corp. Announce Business Combination

Winston & Strawn LLP represented the placement agents in connection with the business combination between Alpha Tau Medical Ltd. (Alpha Tau), the developer of the pioneering alpha-radiation cancer therapy Alpha DaRT™, and Healthcare Capital Corp. (HCC) (Nasdaq: HCCC), a special purpose acquisition company. The business combination values Alpha Tau at an implied pre-money equity value of US$600M, and is expected to add approximately US$337M of cash to its balance sheet upon closing, inclusive of US$275M in HCC's trust (assuming no redemptions by public shareholders) and US$92M in PIPE proceeds, net of transaction expenses. All existing Alpha Tau shareholders will retain 100% of their current equity holdings and are expected to hold approximately 59% of the pro forma company immediately following the closing. Following the closing of the business combination, Alpha Tau is expected to be listed on the Nasdaq. The completion of this transaction will allow the company to realize its vision and implement the clinical development plans and construction of manufacturing plants around the world and ensures they are well capitalized to accelerate ambitious plans across multiple fronts. Proceeds of the business combination and the PIPE will be primarily used to: advance ongoing, and launch new, clinical trials; continue existing, and initiate additional, clinical and research collaborations; develop and expand global manufacturing capacity; develop KOL centers of excellence; and prepare for commercialization efforts.