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Grab’s record breaking SPAC merger left more than $2 billion on the table

John Detrixhe
·3 min read
Grab’s record breaking SPAC merger left more than $2 billion on the table

Grab’s record-breaking deal to merge with a special purpose acquisition company (SPAC) will raise an eye-popping $4.5 billion in cash. A quick recap: Singapore-based Grab is poised to have a market value of around $39.6 billion after it combines with a SPAC called Altimeter Growth. Altimeter is basically a $500 million pot of money listed on Nasdaq that was looking for a target to merge with (which is why SPACS are sometimes called “blank check” companies).