Allrites Holdings Pte, a Singaporean film and television content rights marketplace, has agreed to go public through a merger with US-listed blank check firm Aura FAT Projects Acquisition, bloomberg reports.
The transaction will give Allrites an enterprise value of $92 million on a pro forma basis. The deal also includes a potential $18 million in earnout over two years, subject to the company achieving certain revenue targets. The agreement also allows Aura Fat Projects to seek a PIPE before closing the transaction.
The SPAC raised $115 million in an April 2022 IPO to focus on new emerging technology companies with an acute growth potential in Southeast Asia and Australasia. Read more.