Giddy Inc. is in talks to go public through a merger with Seven Oaks Acquisition Corp. (NasdaqCM:SVOK), a blank-check firm, according to people with knowledge of the matter. A transaction is set to value the combined company at more than $1 billion, said the people, who requested anonymity because the talks are private.

Terms aren't finalized and it's possible talks could collapse. A representative for Seven Oaks declined to comment. A Boxed spokesman didn't immediately respond to a request for comment.