NEWS DETAIL

Quantum-Si, Revolutionizing Proteomics, Closes Business Combination and Will Begin Trading Under the Ticker “QSI” on the Nasdaq Stock Exchange

GUILFORD, Conn. & NEW YORK--(BUSINESS WIRE)-- Quantum-Si Incorporated (Nasdaq: QSI) (“Quantum-Si,” “QSi” or “the Company”), a company pioneering next-generation semiconductor chip-based proteomics, today announced that it has completed its business combination with HighCape Capital Acquisition Corp. (Nasdaq: CAPA) (“HighCape”), a special purpose acquisition company sponsored by leading healthcare growth equity manager HighCape Capital LP. The business combination and concurrent private placement, which were approved by HighCape's stockholders at its special meeting held on June 9, 2021, provide over $500 million to fund the further development and planned commercialization of the Company's single-molecule, semiconductor chip-based protein sequencing and genomics technology.

Following the transaction, the combined company was renamed Quantum-Si Incorporated, and its Class A common stock and warrants will begin trading on the Nasdaq Global Market (“Nasdaq”) on June 11, 2021 under the symbols “QSI” and “QSIAW,” respectively. The final Exchange Ratio for which the former Quantum-Si stockholders exchanged their shares of Quantum-Si capital stock for common stock of the combined company was 0.7975. Each share of HighCape Class A common stock and HighCape Class B common stock became one share of the combined company's Class A common stock.

Quantum-Si has created the first next-generation single-molecule proteomics and genomics platform with the goal of revolutionizing the growing field of proteomics. The Company's unique semiconductor chip has the power to decode the molecules of life, starting with proteins, and holds the potential to expand the scale of the genomics and proteomics market beyond what had been possible with next-generation DNA sequencing.

QSi's end-to-end solution, including Carbon and Platinum, which is on track to launch commercially in 2022 for research use, has the potential to significantly disrupt an existing addressable $21 billion academic research and drug discovery market. The platform also may enable new diagnostic applications in healthcare.

“I am thrilled with the completion of this business combination, which will power the commercialization of our technology to disrupt the rapidly growing proteomics market,” said Dr. Jonathan Rothberg, Founder and Executive Chairman of Quantum-Si. “Having been at the forefront of next-generation DNA sequencing, it is very fitting that our team is also on the cusp of making next-generation protein sequencing a reality. Similar to the introduction of next-gen DNA sequencing, our proteomics technology has the potential to enable exponential advances in drug discovery, academic research, and diagnostics.”

“I am excited to lead this talented organization as it prepares to commercialize a technology with the potential to make a profound impact on healthcare and scientific R&D. The QSi solution enables researchers and drug developers to sequence proteins at a scale and resolution not previously available,” said John Stark, Chief Executive Officer of Quantum-Si. “Proteins offer greater insights by allowing us to see what is happening right now in the body, and we believe the market will enthusiastically embrace QSi's unique solution as the only system that provides end-to-end protein sequencing, single molecule proteomics and genomics.”

The combined company will be led by John Stark as Chief Executive Officer, alongside its highly experienced executive team including Matt Dyer as Chief Business Officer, Mike McKenna as President and Chief Operating Officer, Claudia Napal Drayton as Chief Financial Officer and Christian LaPointe as General Counsel. The combined company's board of directors includes Dr. Rothberg as Executive Chairman, Marijn Dekkers, Ph.D., former CEO of Thermo Fisher Scientific and Bayer AG, Ruth Fattori, former Executive Vice President and Chief Human Resources Officer at PepsiCo Inc., Brigid Makes, former Senior Vice President and CFO of Miramar Labs, Inc., Michael Mina, M.D., Ph.D., a leading epidemiologist at Harvard Medical School and Chief Medical Advisor to the Company, John Stark, CEO of Quantum-Si, Kevin Rakin, Chief Executive Officer of HighCape Capital, and Jim Tananbaum, M.D., Founder and CEO of Foresite Capital Management, LLC.

As a result of the business combination, QSi received approximately $534 million prior to transaction fees, including approximately $109 million of cash held in HighCape's trust account and $425 million from private placement (PIPE) investors, including Foresite Capital Management, LLC, Eldridge, accounts advised by ARK Invest, and Glenview Capital Management, LLC. In addition, QSi's current management team and existing stockholders have rolled 100% of their equity into the combined company.

Advisors

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. acted as legal advisor to Quantum-Si. J.P. Morgan Securities LLC acted as lead placement agent and Cantor Fitzgerald & Co. acted as co-placement agent to HighCape for the PIPE. Mayer Brown acted as legal counsel to the placement agents. White & Case LLP acted as legal advisor and J.P. Morgan Securities LLC acted as exclusive financial advisor to HighCape. Cantor Fitzgerald & Co. acted as capital markets advisor and underwrote the IPO of HighCape in September, 2020.

About Quantum-Si

Founded by Dr. Jonathan Rothberg in 2013, Quantum-Si is focused on revolutionizing the growing field of proteomics. The company's suite of technologies are powered by a first-of-its-kind semiconductor chip designed to enable single-molecule next-generation protein sequencing and genomics, and digitize proteomic research in order to advance drug discovery and diagnostics beyond what has been possible with DNA sequencing.