Singapore-based Grab Holdings announced it will go public on the NASDAQ stock exchange through a merger with special purpose acquisition company (SPAC) Altimeter Growth Corp. (NASDAQ: AGC) in a deal that will value the company at approximately $39.5 billion.
AGC was off more than 5% in morning trading following the news. It closed Monday at $13.95.
Grab will net nearly $4.5 billion in funding from the transaction, including private investment in public equity (PIPE) funding of $4 billion....
https://www.freightwaves.com/news/grab-to-secure-45b-in-new-funding-from-395b-spac-merger