RCLF - Ride sharing firm Gett is said nearing deal to go public through SPAC Rosecliff Acquisition

Ride-hailing company Gett is said close to a deal to be taken public through SPAC Rosecliff Acquisition Corp. I (NASDAQ:RCLF) in a deal that will value the firm at $1.1B. Rosecliff gained over 1% in after hours trading. Gett is expected to raise a about $30M through a PIPE transaction as part of the deal, according to a WSJ report. The Rosecliff SPAC has about $250M. Calcalist reported early last month that Gett, which was founded in Tel Aviv as Get Taxi in 2010, was closing in on a $1.3B SPAC deal. Gett originally started as ride-hailing firm competing with companies like Uber (NYSE:UBER) and Lyft (NASDAQ:LYFT), though in recent years shifted its focus on the corporate travel market. Gett announced in January that it had completed a $115M financing round.

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Ride sharing firm Gett is said nearing deal to go public through SPAC Rosecliff Acquisition