Poema Global Holdings rises on deal to take Taiwan's Gogoro public

Gogoro

16/09/2021 11:26

** Shares of special purpose acquisition co  PPGH.O  up
~5.8% at $10.44 premarket 
    ** Co is on track to open at record high if gains hold
    ** Co to take Taiwanese electric scooter maker Gogoro public
through a merger  urn:newsml:reuters.com:*:nL4N2QI0BG
    ** Deal give Gogoro an enterprise valuation of $2.35 bln
    ** Transaction will provide $550 mln in proceeds, including
an oversubscribed PIPE of $250 mln  urn:newsml:reuters.com:*:nPn94J8Pwa
    ** Investors in PIPE include Temasek, GoTo Group and Hon Hai
(Foxconn) Technology Group among others 
    ** Proceeds will be used for research and development and to
expand into China, India and Southeast Asia
    ** Deal expected to close in Q1 2022
    ** Combined co will be listed on the Nasdaq under the symbol
"GGR"
    ** SPACs are shell companies that raise funds in an IPO to
merge with a private co at a later date, in an effort to take it
public 

    

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))