SLAM - SPAC Velocity Acquisition gains on report on deal with Eli Peyton Manning backed-BBQGuys

AleksandarNakic/E+ via Getty Images SPAC Velocity Acquisition (VELO) rose 1.8% after a report that it's in talks to take BBQGuys public for a combined value of about $900M. The deal will not include a PIPE, according to a Bloomberg report. BBQGuys is an online retailer of grills and outdoor kitchens that counts NFL greats Eli Manning, Peyton Manning and their father Archie Manning as minority investors. The BBQGuys SPAC deal follows a string of IPO news in the BBQ space after Weber filed for an IPO earlier this week and Traeger filed to go public last week. Private equity firm Brand Velocity Partners ("not to be confused with Velocity Acquisition") finalized its acquisition of BBQGuys in early October. Velocity Acquisition, led by CEO Adrian Covey, raised $230M in its IPO in February. Late yesterday, Alex Rodriguez's SLAM SPAC is said in talks to take Italy's Panini Group public.

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SPAC Velocity Acquisition gains on report on deal with Eli, Peyton Manning backed-BBQGuys