DHCA - U.S.-financial services firm GloriFi to go public via ~$1.7B SPAC deal

• GloriFi, a privately-held U.S. financial services provider, has agreed to go public via a merger with special purpose acquisition company DHC Acquisition Corp ( NASDAQ: DHCA ), in a deal that would value the combined entity at about $1.7B.
• At a price of $10/share, the transaction values GloriFi at a pro forma enterprise value of approximately $1.7B and is expected to close in Q1 2023, the company said in a statement on Monday.
• The deal would provide about $279M to GloriFi's balance sheet.
• GloriFi offers banking products such as credit cards, along with home and automobile insurance and mortgages.
• Once the proposed deal closes, the company would potentially trade on the Nasdaq under the requested ticker symbol “GLRI”.
• DHCA stock earlier closed +0.2% at $9.83.

For further details see: