AGC - SPAC Altimeter Growth falls after $40B deal with Grab delayed until Q4

Somrerk Kosolwitthayanant/iStock Editorial via Getty Images Brad Gerstner's SPAC Altimter Growth Corp. (AGC) fell 1.5%  after ride-sharing ompany Grab (GRAB) said its deal with the SPAC wouldn't be completed until Q4, according a regulatory filing. Grab had previoulsy said it targeted the deal close in the third quarter. Grab expects to file a registration statement on Form F-4, which will include a related proxy statement to be distributed to AGC shareholders in connection with the business combination, with the SEC in or around the middle of the year and expect to complete the business combination with AGC during Q4, according to the filing.  Grab also said it's working with the SEC to obtain pre-clearance of certain accounting policies and related financial disclosures in accordance with the SEC’s procedures. The deal is expected to be the largest-ever U.S. equity offering by a Southeast Asian company. A public debut from Grab will offer investors access to a regional consumer

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SPAC Altimeter Growth falls after $40B deal with Grab delayed until Q4