Rimon advises Allrites Holdings Pte Ltd. on Definitive Business Combination Agreement with Aura FAT Projects Acquisition Corp.
Rimon congratulates its client, Allrites Holdings Pte Ltd. on its agreement to go public via a definitive business combination agreement with a US-listed blank check firm Aura FAT Projects Acquisition Corp.
The transaction has an estimated pro forma basis enterprise value for Allrites Holdings Pte. Ltd. of US$92 million. The deal also includes a potential $18 million in earnout over two years, subject to the company achieving certain revenue targets. The agreement allows Aura Fat Projects to seek private investment in public equity, or PIPE, before closing the transaction.
The deal was led by Rimon attorneys Debbie Klis and Carl Sherer, with support from attorneys, Victoria Yang, Ivan Komaritsky, Bob Cocchia, Craig Tanner, Roy Gillig, David Devernoe, Amy Baker, and paralegal Anne Mitzelfelt.
Rimon’s Special Purpose Acquisition Company (SPAC) professionals utilize their capital markets, M&A, private equity, public company, securities and tax experience to deliver full-service advice and representation to SPACs, their sponsors, target companies, underwriters, and related M&A participants in initial public offerings (IPOs), including on Nasdaq, NYSE, and other major stock markets, as well as in subsequent business combinations (de-SPACs) and acquisitions, and with PIPEs, SEPAs, and more. Read more here.