The SPAC market has cooled considerably in recent weeks, with companies that went public by merging with a blank-check entity trading well off their highs, and a growing number of regulatory hurdles emerging for an investment strategy that often dominated financial news headlines in 2020.
Even the least sentimental of investors must be heartened by Grab’s journey from Kuala Lumpur garage to $40 billion sensation drawing global attention to Southeast Asia.
Southeast Asia’s answer to Uber is set to nab the record for biggest deal in the SPAC world, yet traders are holding their applause.
The Investor Presentation for the Grab and Altimeter Growth Corp. merger is available.
Grab Holdings Inc. (“Grab”), Southeast Asia’s leading superapp, today announced it intends to go public in the U.S. in partnership with Altimeter Growth Corp. (Nasdaq: “AGC”) in what is expected to be the largest-ever U.S. equity offering by a Southeast Asian company.
Altimeter Growth Corp., a blank check company formed by Altimeter Capital targeting the tech sector, filed on Friday with the SEC to raise up to $450 million in an initial public offering.