The startup, which was last valued at more than $14 billion, is now angling to delve deeper into online finance and food delivery. Grab Holdings, billed as Southeast Asia's biggest technology platform, announced on Tuesday (April 13) that it would go public through a SPAC merger. Grab plans to go public in the U.S. through a merger with Altimeter Growth in a deal valued near $39.6 billion. The Grab IPO will list on the Nasdaq and is expected to raise $4.5 billion. Altimeter Growth has two SPAC units for merging with private … Claim your 1 … Grab Holdings Inc CEO Anthony Tan (picture) said he’s confident the merger of the ride-hailing and food-delivery giant and a US blank-cheque company will be completed by year-end, following a delay caused by a review of its financials.The Singapore-based start-up last week postponed the expected completion of the deal with Altimeter Growth Corp — set to be one of the largest-ever … Altimeter Growth Corp. raised $450 million in an October 2020 IPO. The company expects to grow its GMV and revenue by a compound annual growth rate (CAGR) of 40% and 42%, respectively, over the next three years. Buying Altimeter Growth (AGC) stock on merger rumors It still isn't certain whether AGC will merge with Grab. Grab says that, as a result, its financials for these periods “remain subject to further review and revision.” This development comes amid market volatility, and observations about the SPAC boom slowing down, as funding for the deals dry up. Grab Holdings Inc. announced Tuesday its merger with special purpose acquisition company Altimeter Growth Corp. ahead of the plan to hold the largest initial public offering in the United States by a Southeast Asian company. Elsewhere the SEC continued to show its focus on SPACs and short sellers begin to … Form 425 Altimeter Growth Corp. Grab has raised $12 billion to date and has a cash reserve of about $5 billion. Altimeter and Grab anticipate that subsequent events and developments may cause their assessments to change. The Singaporean rideshare giant Grab is set to merge with the SPAC Altimeter Growth 1, according to a report from The Financial Times. The deal values the combined company at $35 billion and will give $2.5 billion in financing to Grab. Grab grew revenues 70% year-over-year in 2020 despite COVID-19 headwinds. Grab, backed by SoftBank Group Corp., grew net revenue by about 70% in 2020 after bouncing back from a … Grab will combine with the fund Altimeter Growth Corp (NASDAQ: AGC) that raised $450 million last year. Altimeter Growth Corp. (NASDAQ:AGC) went down by -7.33% from its latest closing price compared to the recent 1-year high of $18.11. Altimeter Growth Corporation (Nasdaq: AGC) is a special purpose investment vehicle sponsored by Altimeter Growth Holdings (“Altimeter”), which is part of the Altimeter Capital Markets Platform, formed to invest in and help bring a world-class technology company to the public markets. Pursuant to the proposed transactions, Altimeter Growth and Grab will become wholly-owned subsidiaries of a new holding company. Article Stock Quotes (2) May 4, 2021 6:59 AM EDT. Altimeter Growth Corp., the blank-check company merging with internet giant Grab Holdings Inc., is hovering just a few cents above its record … Grab IPO, Grab Holdings, Special Purpose Acquisition Companies (SPACs), Altimeter Growth Corp Grab had postponed its expected merger with Altimeter to 4Q21 as it works on an audit of the past three years. The … Altimeter (NASDAQ:AGC) announced this morning that it intends to enter into a definitive agreement to combine with Asian ride-hailing service Grab at a pro forma enterprise value of $31.26 billion, or 26.1x its 2020 revenue. Article Stock Quotes (2) May 4, 2021 6:59 AM EDT. The combined company will be traded on NASDAQ under the symbol GRAB. With the deal, Grab would further collect between USD 3 billion and USD 4 billion through a private investment in public equity (PIPE) prior to the listing. Altimeter Growth Corp. 2, one of Gerstner’s two blank-check companies, would provide Grab, the leading superapp in Southeast Asia, with $4.5 … 13, 2021 at 6:19 a.m. Shares in Altimeter Growth Corp are trading near all-time lows at $11.61 as of June 9. 001-39573. Buying Altimeter Growth (AGC) stock on merger rumors It still isn't certain whether AGC will merge with Grab. A Ropes & Gray-led team advised Altimeter Growth Corp. (Nasdaq: “AGC”) in its plan to take Grab Holdings public in the U.S. Grab is set to merge with Altimeter Growth Corp. 1, one of two SPACs run by Altimeter Capital and ex-Zillow board member Brad Gerstner. Medium. SPACs notched more than $70 billion so far in … Altimeter Growth Corp struck the largest SPAC merger ever agreeing to take Grab public in a $40B deal. Simak informasi selengkapnya dalam program Evening Up di CNBC Indonesia, Senin (14/06/2021) About Altimeter Growth Corp. Altimeter Growth Corp operates as a blank check company. Altimeter Growth Corp. does not have significant operations. That said, there's massive investor interest in … Altimeter Growth will be assisting with that by contributing $1.5 billion to the PIPE. As part of Singapore-based Grab's agreement with the SPAC backed by Altimeter Capital, investors … Grab, the dominant ride-hailing and food delivery firm in South East Asia, is preparing to list shares in the US in a deal that values the firm at nearly $40bn (£29bn). Altimeter Growth Corp 2 Ordinary Shares - Class A AGCB Morningstar%2c Inc. 5/7/2021 Grab to list in US via $40 bln merger with Altimeter Growth It's the largest SPAC merger of all time, with Altimeter Growth Corp (AGC) finally striking deal with Singapore's Grab at nearly a $40B equity value. Grab's scale in Southeast Asia. The … When announcing the pact in April, Grab said in an investor presentation its completion target was July. The sources said that Singapore-based Grab, which has expanded rapidly from its … Altimeter has backed two SPACs - Altimeter Growth Corp and Altimeter Growth Corp 2. Altimeter has backed two SPACs - Altimeter Growth Corp and Altimeter Growth Corp 2. What Happened: Grab is merging with Altimeter Growth Corp. (NASDAQ: AGC) in a deal that puts Grab at an initial pro-forma equity value of … What Happened: Grab is merging with Altimeter Growth Corp. (NASDAQ: AGC) in a deal that puts Grab at an initial pro-forma equity value of … Altimeter Growth Corp… The ride-hailing company added that it expects the merger to be completed in Q4 2021 or … There have been rumors that Altimeter Growth SPAC might take ride-hailing company Grab public. There are two SPACs from the sponsor, Altimeter Growth Corp. (AGC) and Altimeter Growth Corp. 11 (AGCB). Altimeter Growth and Grab will become subsidiaries that are fully owned by a new holding company. Sources today claim that Grab will merge with Altimeter Growth 1. Southeast Asian "superapp" Grab is going public through a SPAC merger with Altimeter Growth Corp. Southeast Asia’s largest ride-hailing company, Grab Holdings, said Tuesday, April 13, 2021 that it plans to merge with U.S.-based Altimeter Growth Capital in a deal that would value it at nearly $40 billion in preparation for an initial public offering in the U.S. (AP Photo/Tatan Syuflana, File) 10 June 2021 Update: Grab Postpones Special Purpose Acquisition Company (SPAC) Deal to Q4 2021. Altimeter’s two listed SPACs are the Altimeter Growth Corporation (NASDAQ: AGC) and Altimeter Growth Corp 2 (NYSE: AGCB), which respectively raised USD 450 million and USD 400 million. Singapore-headquartered super app Grab is postponing its $40 billion initial public offering (IPO) via a merger with the special-purpose acquisition company (SPAC) Altimeter Growth Corp … The combined company expects its securities will be traded on NASDAQ under the symbol “GRAB” in the … The Singapore-based startup last week postponed the expected completion of the deal with Altimeter Growth Corp. -- set to be one of the largest-ever mergers with a special purpose acquisition company -- to the fourth quarter as it works on an audit of the past three years. The company’s stock price has collected -8.95% of loss in the last five trading sessions. Altimeter Capital is in talks with ride-hailing company Grab to bring the company public in a $40 billion deal, according to a report from The Wall Street Journal. – April 13, 2021 – Grab Holdings Inc. (“Grab”), Southeast Asia’s leading superapp [1], 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.
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