Montreal jet-ski maker Taiga to go public via Canaccord SPAC
Kevin Orland, Bloomberg News Taiga jet ski , Screengrab courtesy of taigamotors.ca
Electric jet-ski maker Taiga Motors plans to go public via a merger with a blank-check company sponsored by Canaccord Genuity Group Inc., taking advantage of investor demand for companies that can burnish their environmental credentials.
Montreal-based Taiga will have an implied market capitalization of about $537 million (US$422 million) after the combination with the Canaccord Genuity Growth II Corp. special purpose acquisition corporation, the companies said Wednesday. That valuation includes a $100 million private placement with investors including John Risleyâs Northern Private Capital.