Brief: Tradezero To Become Publicly Traded Company Through Business Combination With Dune Acquisition Corporation

Global Gas

12/10/2021 11:33

Oct 12 (Reuters) - Dune Acquisition Corp  DUNE.O :
    * TRADEZERO, A NEXT-GENERATION, ACTIVE TRADING PLATFORM, TO
BECOME
A PUBLICLY TRADED COMPANY THROUGH A BUSINESS COMBINATION WITH
DUNE ACQUISITION CORPORATION
    * DUNE ACQUISITION CORP - DEAL FOR ESTIMATED
POST-TRANSACTION
ENTERPRISE VALUE OF $556 MILLION
    * DUNE ACQUISITION CORP - CARTER GLATT, CEO & FOUNDER OF
DUNE, TO
JOIN TRADEZERO BOARD OF DIRECTORS
    * DUNE ACQUISITION CORP - TRADEZERO  WILL CONTINUE TO BE LED
BY
DANIEL PIPITONE, CO-FOUNDER & CEO OF TRADEZERO HOLDING CORP
    * DUNE ACQUISITION CORP - EXISTING TRADEZERO EQUITY HOLDERS,
INCLUDING MANAGEMENT TEAM, WILL ROLL 100% OF THEIR EQUITY INTO
COMBINED CO
    * DUNE ACQUISITION CORP - COMBINED CO WILL BE CALLED
TRADEZERO
GLOBAL INC. UPON CLOSING & EXPECTED TO BE LISTED ON NYSE UNDER
NEW TICKER SYMBOL, "TRAD"
    * DUNE ACQUISITION CORP - CASH PROCEEDS OF BUSINESS
COMBINATION
WILL FUND UP TO $160 MILLION OF CASH TO TRADEZERO'S BALANCE
SHEET
    * DUNE ACQUISITION CORP -  EXISTING TRADEZERO EQUITY HOLDERS
WILL
REMAIN LARGEST STOCKHOLDERS IN COMBINED CO WITH ABOUT 70% OF
OWNERSHIP
    * DUNE ACQUISITION CORP - CASH COMPONENTS OF TRANSACTION
WILL BE
FUNDED BY DUNE'S CASH IN TRUST OF $172.5 MILLION

Source text for Eikon:  ID:nGNX4P9V06 
Further company coverage:  DUNE.O 

 ((Reuters.Briefs@thomsonreuters.com;))