The stock of Babylon Holdings Ltd. BBLN +1.58% fell 42% in premarket trading on Wednesday after the company announced its plans to go private, with AlbaCore Capital backing. The Austin, Texas, and London, England based company announced that it had entered into an amendment and restatement with AlbaCore of its senior secured loan facility for up to $35 million in funding at similar pricing terms as an original bridge contract. This is expected to give the company the liquidity it needs to continue operating and implement the agreement to take the company private. The board approved the funding proposal and proposed take-private, which should take place by June. Babylon has created a primary care service that is digitally-first.