SPAC Endurance Acquisition to take SatixFy public in $813 mln deal

Satixfy Communications

08/03/2022 14:00

** Blank-check firm's  EDNC.O  shares edge up 1.02% at $9.87
premarket 
    ** SatixFy Communications Ltd on Tuesday agreed to merge
with Endurance Acquisition Corp in a deal that values the
combined co at $813 mln  urn:newsml:reuters.com:*:nBw7L1Fcja
    ** Deal is expected to raise up to $350 mln in gross
proceeds, including a $29 mln private investment in public
equity by investors Sensegain Group and Antarctica Capital
    ** Proceeds also include $201 mln from the special purpose
acquisition company's (SPAC) trust account, assuming no
redemptions 
    ** Blank-check firms, or SPACs, are publicly listed shell
companies that raise funds to merge with private companies,
thereby taking them public
  

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))