NBST - Infinite Reality's SPAC Partner Engages BTIG as Capital Markets Advisor; Continues to Drive Robust Expansion and Strengthened Market Position | Benzinga
NEW YORK, May 03, 2024 (GLOBE NEWSWIRE) -- Infinite Reality ("iR" or the "Company"), a leading global provider of cutting-edge virtual, AI-powered immersive experiences, today announced that its previously announced business combination partner, Newbury Street Acquisition Corporation (NASDAQ:NBST) ("Newbury"), has engaged BTIG, LLC ("BTIG") as its capital markets advisor.
BTIG has previously advised on similar business combinations including for AST SpaceMobile, Pinstripes Holdings and Vacasa.
Tom Bushey, Chief Executive Officer of Newbury commented, "Partnering with the BTIG team is critical to Newbury's transaction with iR and the Company's journey towards becoming a publicly traded company. Their expertise is invaluable to Newbury as iR enters this next phase of growth with a public currency to further expand its immersive technology platform and services."
The addition of BTIG as capital markets advisor to Newbury comes at an exciting time as Infinite Reality has recently announced multiple strategic acquisitions, including the pending landmark $250 million deal to purchase the Drone Racing League in April, as well as acquisitions of spatial web design pioneer Ethereal Engine and social sports platform Stakes earlier this year. These transactions, which add to the Company's previous major acquisition of entertainment production company Thunder Studios, bolster iR's already significant technology capabilities and boost its valuation to $3.5 billion.
Leveraging its ...