黑石产品将通过与SPAC合并上市

07:25 AM EST, 12/23/2021 (MT Newswires) -- Blackstone Products said Thursday that it plans to become a publicly listed entity via a proposed merger with special purpose acquisition company Ackrell SPAC Partners I (ACKIU).

On closing of the deal, the combined entity will be renamed Blackstone Products Inc. and will begin trading on the Nasdaq under the new ticker symbol "BLKS." Roger Dahle, founder and CEO of Blackstone, will head the newly created company.

The merger implies a pro forma enterprise valuation for Blackstone, a maker of outdoor griddles, of $900 million. The company will receive gross proceeds of about $95 million, assuming no redemption by Ackrell shareholders, including a PIPE of $31 million common stock at $10 per share and $111 million of convertible notes due 2027.

The deal is expected to close in Q2 of 2022.

Ackrell was halted on Nasdaq and due to resume trading at 7:30 ET