Spartan Acquisition: Jumps after deal to take Sunlight Financial public
25/01/2021 16:18
** Shares of blank-check firm Spartan Acquisition Corp II
SPRQ.N rise 27.27% to $15.03
** SPRQ, backed by an affiliate of Apollo Global Management
Inc APO.N , to take solar financing platform Sunlight Financial
LLC public through a merger urn:newsml:reuters.com:*:nL4N2K0302
** Deal values Sunlight Financial at $1.3 bln
** Deal includes investments from group led by venture
capital investor Chamath Palihapitiya, BlackRock Inc BLK.N ,
among others
** Blank-check firms, or special purpose acquisition
companies (SPACs), raise funds in an IPO with the aim of buying
a private company, with the acquired company becoming public
after the merger
(Reporting by Sohini Podder in Bengaluru)
((sohini.podder@thomsonreuters.com))