BTWN - SPAC Bridgetown near deal with fintech Hyphen Group - report

2023-05-03 08:46:15 ET

• Peter Thiel-backed SPAC Bridgetown Holdings ( NASDAQ: BTWN ) is nearing a deal to take Hong Kong-based fintech firm Hyphen Group public.
• The firms are working to finalize an agreement that may be announced as soon as this month, according to a Bloomberg report, which cited people familiar. A deal would value the combined company at a few hundred million dollars and include a PIPE.
• The report comes after Bloomberg reported in July that SPAC Bridgetown, which is also backed by billionaire Rich Li,  was evaluating a potential deal to take digital telecom services company Circles.Life public.
• Bridgetown ( BTWN ) raised $595 million in a U.S. initial public offering in October 2020.

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