Gett announces $1 billion SPAC merger
The Israeli-founded company has been looking into going public for the past two years, with its CEO already saying back in 2019 that it plans to do so by the end of that year
CTech | 19:51 10.11.2021
Global corporate ground travel company Gett announced on Wednesday that it has entered into an agreement to merge with Nasdaq-traded special purpose acquisition company Rosecliff Acquisition Corp I. Upon completion of the business combination, Gett will become a publicly traded entity under the name “Gett Inc.” and trade under the ticker symbol “GETT.” The transaction reflects an implied pro forma enterprise value at closing of $1 billion. The transaction will provide up to $253 million in gross proceeds from Rosecliff’s trust account, with an additional $30 million in gross proceeds from a fully committed common equity PIPE from Rosecliff’s sponsors and existing Gett shareholders.