Brief: Freightos, A Leading Booking And Payment Platform Digitalizing Global Freight, To Raise Growth Capital And Become Public Via Business Combination With Gesher I Acquisition Corp

Freightos

31/05/2022 21:44

May 31 (Reuters) - Gesher I Acquisition Corp  GIAC.O :
    * FREIGHTOS, A LEADING BOOKING AND PAYMENT PLATFORM
DIGITALIZING
GLOBAL FREIGHT, TO RAISE GROWTH CAPITAL AND BECOME PUBLIC VIA
BUSINESS COMBINATION WITH GESHER I ACQUISITION CORP.
    * GESHER I ACQUISITION CORP - DEAL FOR IMPLIED PRO FORMA
ENTERPRISE VALUE OF APPROXIMATELY $435 MILLION
    * GESHER I ACQUISITION CORP - COMBINATION IS PROJECTED TO
GENERATE
GROSS PROCEEDS OF AT LEAST $80 MILLION (AND UP TO $166 MILLION
DEPENDING ON REDEMPTIONS)
    * GESHER I ACQUISITION CORP - FREIGHTOS TO BE PUBLICLY
LISTED ON
NASDAQ UNDER TICKER SYMBOL "FROS"
    * GESHER I ACQUISITION CORP - MERGER AGREEMENT WOULD RESULT
IN
FREIGHTOS BEING PUBLICLY LISTED ON NASDAQ UNDER TICKER SYMBOL
"FROS"
    * GESHER I ACQUISITION CORP - IMPLIED PRO FORMA EQUITY VALUE
OF
COMBINED COMPANY IS EXPECTED TO BE AT LEAST APPROXIMATELY $500
MILLION
    * GESHER I ACQUISITION CORP - QATAR AIRWAYS HAS AGREED TO
INVEST
ANOTHER $10 MILLION IN COMBINED COMPANY
    * GESHER I ACQUISITION CORP - EXISTING FREIGHTOS
SHAREHOLDERS ARE
EXPECTED TO OWN UP TO 78% OF COMBINED COMPANY AFTER FUNDING
    * GESHER I ACQUISITION CORP - FREIGHTOS MANAGEMENT TEAM WILL
REMAIN IN PLACE WITH DR. ZVI SCHREIBER CONTINUING TO SERVE AS
CHIEF EXECUTIVE OFFICER
    * GESHER I ACQUISITION CORP - RAN SHALEV REMAINING AS CHIEF
FINANCIAL OFFICER
    * GESHER I ACQUISITION CORP - CO EXPECTED TO INCLUDE UDO
LANGE,
CEO OF FEDEX LOGISTICS

Source text for Eikon:  ID:nPn8Hvwbga 
Further company coverage:  GIAC.O