France's Digital Virgo to list in U.S. in $513 mln SPAC deal

Goal Acquisitions

17/11/2022 12:51

Nov 17 (Reuters) - Digital Virgo said on Thursday it
would list in the United States in a blank-check deal that
values the French mobile payments platform at $513 million,
including debt. 
    The Lyon-based company operates in more than 40 countries
and offers 2 billion-plus users a single platform to pay for
sports, entertainment and gaming as part of their phone bills.
    Digital Virgo is among a few companies that have opted to
list in the United States at a time of severe market turbulence.
     Solar battery storage company Electriq Power Holdings Inc
said on Monday it would go public through a merger with
blank-check firm TLG Acquisition One Corp  TLGA.N , in a deal
valuing the combined company at $495 million.  urn:newsml:reuters.com:*:nL4N32A3M7
    Goal Acquisitions Corp  PUCK.O  will acquire Digital Virgo
shares at $10 apiece, with the deal providing the latter at
least $100 million. The transaction is expected to close in the
first quarter of next year.
    A special purpose acquisition company (SPAC) is a listed
company lacking an inherent business model, formed solely to
take other firms public via mergers.
    Goal is led by sports executives including Harvey Schiller,
Bill Duffy and basketball star Michael Jordan's former agent,
David Falk. 
 (Reporting by Mehnaz Yasmin in Bengaluru;
Editing by Vinay Dwivedi)
 ((Mehnaz.Yasmin@thomsonreuters.com;))