Weather and security platform Tomorrow.io will go public through a merger with a blank-check firm in a deal worth nearly $1.2 billion, the companies said on Tuesday.
The deal with special purpose acquisition company (SPAC) Pine Technology Acquisition Corp, which is expected to close in the first half of 2022, will fetch up to $420 million in proceeds for Tomorrow.io.
Funds managed by Koch Strategic Platforms, National Grid Partners, JetBlue Technology Ventures, SoftBank Group’s subsidiary SB Energy Corp and others are also participating in a $75 million private investment in public equity (PIPE).
Read more/Source: Reuters
