Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Commodities  >  London Caoutch.       

LONDON CAOUTCH.

SummaryChartsNews 
SummaryMost relevantAll NewsMarketScreener Strategies

Sustainable rubber ingredient maker Bolder in talks to go public -sources

10/26/2020 | 03:05pm EST

Oct 26 (Reuters) - Bolder Industries has signed a letter of intent (LOI) to merge with blank-check acquisition company GigCapital2 Inc in a deal that would take the U.S. sustainable rubber ingredient manufacturer public and value it at close to $900 million, including debt, people familiar with the matter said on Monday.

It would be the latest deal by a blank-check vehicle, or special-purpose acquisition company (SPAC), for an environmentally focused business, following mergers for bioplastics company Danimer Scientific and Agricultural technology firm AppHarvest.

The LOI is nonbinding but Bolder and GigCapital2 aim to reach a formal agreement before the end of the year, the sources said, cautioning that it is not certain a deal will ultimately materialize.

Bolder and GigCapital2 declined to comment.

Bolder uses end-of-life tires to develop a sustainable alternative to carbon black material which can be used in rubbers and plastic products.

Black carbon is the third-largest contributer of man-made greenhouse gases after carbon dioxide and methane, according to the U.S. Environmental Protection Agency.

Bolder is backed by Aravaipa Ventures and I-4 Capital Partners.

GigCapital2, which is led by investors Avi Katz and Raluca Dinu, raised $150 million in a June, 2019 IPO.

A SPAC is a shell company that uses proceeds from an IPO to acquire a private company, typically within two years. For the private company, merging with a SPAC is an alternative to going public through a traditional IPO.

(Reporting by Joshua Franklin in Boston Editing by Matthew Lewis)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
GIGCAPITAL2, INC. 1.38% 10.25 Delayed Quote.3.02%
All news about LONDON CAOUTCH.
11/27China Shanghai Rubber Futures Closing Prices, Volume
DJ
11/26China Shanghai Rubber Futures Closing Prices, Volume
DJ
11/25China Shanghai Rubber Futures Closing Prices, Volume
DJ
11/25China Shanghai Rubber Futures Closing Prices, Volume
DJ
11/24COVID outbreak hits top rubber glove maker
RE
11/24China Shanghai Rubber Futures Closing Prices, Volume
DJ
11/23China Shanghai Rubber Futures Closing Prices, Volume
DJ
11/20China Shanghai Rubber Futures Closing Prices, Volume
DJ
11/19China Shanghai Rubber Futures Closing Prices, Volume
DJ
11/18China Shanghai Rubber Futures Closing Prices, Volume
DJ
More news
Chart LONDON CAOUTCH.
Duration : Period :
London Caoutch. Technical Analysis Chart | MarketScreener
Full-screen chart