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, in a deal valuing the combined company at $495 million.
Goal Acquisitions Corp 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.
Source: Reuters.com