|Bid||10.90 x 3200|
|Ask||10.99 x 1200|
|Day's Range||10.15 - 10.77|
|52 Week Range||9.57 - 14.01|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Origin Materials ("Origin"), the world’s leading carbon negative materials company, and Artius Acquisition Inc. ("Artius") (Nasdaq: AACQU, AACQ), a publicly-traded special purpose acquisition company, announced today a definitive agreement for a business combination that will result in Origin becoming a public company. Upon closing of the transaction, the combined company will be named Origin Materials and remain listed on the Nasdaq under the new ticker symbol "ORGN." The combined company will be led by Co-Founder and Co-CEO John Bissell and Co-CEO Rich Riley.
What happened Shares of Artius Acquisition (Nasdaq: AACQ) (NASDAQ: AACQ.U) have popped today, up by 16% as of 11:15 a.m. EST, following a Bloomberg report from Friday evening that the special purpose acquisition company (SPAC) is in talks to merge with Origin Materials.
(Bloomberg) -- Origin Materials, a chemical-technology company, is in talks to go public via a merger with blank-check firm Artius Acquisition Inc., according to people with knowledge of the matter.Deliberations are ongoing and may not lead to a transaction, the people said, asking not to be identified because the information is private.A representative for Artius, a special purpose acquisition company, or SPAC, declined to comment. Representatives for Origin Materials didn’t respond to requests for comment.Origin Materials extracts chemicals from plants that are used to make a more environmentally friendly version of plastic, according to its website. Its partners and customers include Nestle SA, Danone SA and PepsiCo Inc.The talks underscore how the SPAC market is still going strong. As of Monday, 48 companies with a combined value of $27 billion have announced deals to go public by merging with SPACs this year, according to data compiled by Bloomberg. New blank-check companies have raised close to $45 billion on U.S. exchanges this year, accounting for over 60% of the year’s IPO volume, the data shows.Origin Materials is building a new plant in Ontario, it said in a press release in November.Artius raised $630 million in an initial public offering in July.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.