Kore to Go Public Through Merger With Cerberus SPAC themiddlemarket.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from themiddlemarket.com Daily Mail and Mail on Sunday newspapers.
KORE Wireless Group Inc has agreed to go public through a merger with a blank-check firm backed by private equity company Cerberus Capital Management, in a deal that values the combined entity at a.
KORE to List on NYSE through Merger with Cerberus Telecom Acquisition Corp – Consumer Electronics Net consumerelectronicsnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from consumerelectronicsnet.com Daily Mail and Mail on Sunday newspapers.
By Reuters Staff
2 Min Read
(Reuters) - KORE Wireless Group Inc has agreed to go public through a merger with a blank-check firm backed by private equity company Cerberus Capital Management, in a deal that values the combined entity at a pro-forma enterprise value of $1.01 billion.
KORE said on Friday the deal with Cerberus Telecom Acquisition Corp will fetch the merged company about $484 million in gross cash proceeds.
The payment will include $225 million private investment led by Koch Strategic Platforms LLC and other top-tier investors, such as funds and accounts managed by BlackRock Inc.
Arby Partners, an existing majority shareholder in KORE, will roll its entire common equity into the combined company.