ISRL - Pomvom enters into a SPAC deal to list in NASDAQ
2024-01-02 09:23:16 ET
- Israel Acquisitions ( ISRL ) and Pomvom said it has signed a definitive business combination agreement at a total equity value for Pomvom of $125M.
- The combined company will trade on the Nasdaq.
- The deal includes a minimum cash consideration of $20M, and Pomvom shareholders will hold a majority of the company's issued share capital.
- The combined company's board will have up to seven directors in the first stage, of which two directors will be nominated by ISRL and up to five directors will be nominated by the company.
- The parties expect the deal to close by the end of Q3 2024, after which Pomvom will be delisted from the Tel Aviv Stock Exchange and listed solely on the Nasdaq.
For further details see:
Pomvom enters into a SPAC deal to list in NASDAQ