AGC - SPAC Altimeter Growth jumps after setting vote date for Grab deal

SPAC Altimeter Growth Corp. (NASDAQ:AGC) rose 3.1% after it set a Nov. 30 date for holders to vote on its deal to take Southeast Asia ride-hailing giant Grab public. Brad Gerstner's AGC announced that that the SEC declared effective the Form F-4 registration statement of Grab Holdings, according to a release. Grab is Southeast Asia's most valuable startup and is set to undergo a merger with Altimeter (AGC) at a valuation of $40B in the fourth quarter, pushed back after a delay. 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 market of more than 655M people across countries including Indonesia, Thailand and Vietnam. Last week, Grab reports Q3 results.

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SPAC Altimeter Growth jumps after setting vote date for Grab deal