ATAC - Shutterfly in talks to go public via SPAC merger - WSJ

Shutterfly, which was acquired by Apollo Global Management in June 2019, is in talks to go public through a merger with a blank-check company, source WSJ.The company is discussing a deal with a special-purpose acquisition company, Altimar Acquisition Corp. II (ATMR) that would value it at between $4B and $5B including debt.However, there is no guarantee that the parties will reach an agreement.The Altimar vehicle went public in February, raising $345M.A previous vehicle, Altimar Acquisition Corp. (ATAC), agreed last year to combine Owl Rock, Dyal and take them public, with combined entity expected to have a market capitalization of ~$12.5B.Founded in 1999, Shutterfly’s helps consumers print their photos onto personalized books and gift items. It first went public in 2006. Apollo bought the company in 2019 for around $2.7B.

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Shutterfly in talks to go public via SPAC merger - WSJ