Sc Health (SCPE) 8-K Other Events

Exhibit 99.1

SC HEALTH CORPORATION

PRO FORMA BALANCE SHEET

	Actual as of July 16,			Pro Forma				As Adjusted
	2019			Adjustments				as of July 16, 2019
				(unaudited)				(unaudited)
ASSETS
Current asset – Cash	$	2,031,957		$	—			$	2,031,957
Cash held in Trust Account		150,000,000			22,500,000		(a)		172,500,000
					450,000		(b)
					(450,000	)	(c)
Total Assets	$	152,031,957		$	22,500,000			$	174,531,957
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accrued expenses	$	2,500		$	—			$	2,500
Accrued offering costs		489,625			—				489,625
Promissory note – related party		254,595			—				254,595
Total Current Liabilities		746,720			—				746,720
Deferred underwriting fee payable		5,250,000			787,500		(d)		6,037,500
Total Liabilities		5,996,720			787,500				6,784,220
Commitments and Contingencies
Ordinary shares subject to possible redemption, 14,103,523 and 16,274,773 shares as of July 16, 2019 and as adjusted as of July 16, 2019, respectively, at redemption value		141,035,230			21,712,500		(e)		162,747,730
Shareholders’ Equity:
Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding		—			—				—
Class A ordinary shares, $0.0001 par value; 180,000,000 shares authorized; 896,477 and 975,227 shares as of July 16, 2019 and as adjusted as of July 16, 2019, respectively, issued and outstanding (excluding 14,103,523 and 16,274,773 shares, respectively, subject to possible redemption)		90			225		(a)		98
					(217	)	(e)
Class B ordinary shares, $0.00008 par value; 25,000,000 shares authorized; 5,562,500 shares issued and outstanding		445			—				445
Additional paid-in capital		5,002,328			22,499,775		(a)		5,002,320
					450,000		(b)
					(450,000	)	(c)
					(787,500	)	(d)
					(21,712,283	)	(e)
Accumulated deficit		(2,856	)		—				(2,856	)
Total Shareholders’ Equity		5,000,007			—				5,000,007
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	152,031,957		$	22,500,000			$	174,531,957

See accompanying note to the pro forma balance sheet.

SC HEALTH CORPORATION

NOTE TO PRO FORMA BALANCE SHEET

(unaudited)

NOTE 1 - CLOSING OF OVER-ALLOTMENT OPTION AND ADDITIONAL PRIVATE PLACEMENT

The accompanying unaudited Pro Forma Balance Sheet presents the Balance Sheet of SC Health Corporation (the “Company”) as of July 16, 2019, adjusted for the closing of the underwriters’ over-allotment option in full and related transactions which occurred on August 2, 2019, as described below.

On August 2, 2019, the Company consummated the closing of the sale of 2,250,000 additional units (the “Units”) at a price of $10.00 per unit upon receiving notice of the underwriters’ election to fully exercise their over-allotment option, generating additional gross proceeds of $22,500,000 to the Company. Each Unit consists of one share of the Company’s Class A ordinary shares and one-half of one redeemable warrant (“Public Warrant”). Each whole Public Warrant entitles the holder to purchase one share of the Company’s Class A ordinary shares at a price of $11.50 per share. Simultaneously with the exercise of the over-allotment, the Company consummated the private placement of an additional 450,000 warrants (the “Private Placement Warrants”) to SC Health Holdings Limited (the “Sponsor”), generating aggregate gross proceeds of $450,000 to the Company. Transaction costs amounted to $1,237,500, consisting of $450,000 in cash underwriting fees and $787,500 of additional underwriting fees, which have been deferred until the completion of the Company’s Business Combination. As a result of the underwriters’ election to fully exercise their over-allotment option, 562,500 Founder Shares are no longer subject to forfeiture. Pro forma adjustments to reflect the exercise of the underwriters’ over-allotment option are as follows:

	Pro forma entries:	Debit		Credit
a.	Cash held in Trust Account		22,500,000
	Class A ordinary shares				225
	Additional paid-in capital				22,499,775
	To record sale of 2,250,000 Units on over-allotment option at $10.00 per Unit.
b.	Cash held in Trust Account		450,000
	Additional paid-in capital				450,000
	To record sale of 450,000 Private Placement Warrants at $1.00 per Private Placement Warrant.
c.	Additional paid-in capital		450,000
	Cash held in Trust Account				450,000
	To record payment of 2.0% of cash underwriting fee on over-allotment option.
d.	Additional paid-in capital		787,500
	Deferred underwriting fees				787,500
	To record the liability for deferred underwriting fees on over-allotment option.
e.	Class A ordinary shares		217
	Additional paid-in capital		21,712,283
	Common Stock Subject to Redemption				21,712,500
	To reclassify ordinary shares out of permanent equity into mezzanine redeemable shares.