Smart-glass maker View to go public via $1.6 bln SPAC merger (updated)

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30/11/2020 21:59

(Updates with deal details, background)
    Nov 30 (Reuters) - Smart-glass maker View Inc said on Monday
it would go public through a $1.6 billion merger with a
blank-check company sponsored by Cantor Fitzgerald & Co.
    View, which expects up to $800 million in proceeds from the
deal, said the combined company would be publicly listed on the
Nasdaq after the merger with CF Finance Acquisition Corp II
 CFII.O  closes.  urn:newsml:reuters.com:*:nPn5gw9Lka
    A blank-check company, or a special purpose acquisition
company (SPAC), is a shell vehicle that uses capital raised
through an initial public offering (IPO) to buy a private
company, usually within two years. The deal then takes the
private company public.
    SPACs have emerged as a quick route to the stock market for
companies, particularly auto technology startups concerned about
the risk of the lengthy IPO process.
     

 (Reporting by Arunima Kumar in Bengaluru; Editing by Devika
Syamnath)
 ((Arunima.Kumar@thomsonreuters.com;))