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Altimeter Growth Corp. 2 (AGCB)

NYSE - NYSE Delayed Price. Currency in USD
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10.31+0.07 (+0.68%)
At close: 4:00PM EDT
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Neutralpattern detected
Previous Close10.24
Bid0.00 x 1400
Ask0.00 x 3100
Day's Range10.30 - 10.37
52 Week Range10.13 - 15.21
Avg. Volume133,873
Market Cap602.62M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • How Much Of Altimeter Growth Corp. 2 (NYSE:AGCB) Do Institutions Own?
    Simply Wall St.

    How Much Of Altimeter Growth Corp. 2 (NYSE:AGCB) Do Institutions Own?

    The big shareholder groups in Altimeter Growth Corp. 2 ( NYSE:AGCB ) have power over the company. Institutions often...

  • Rideshare Company Grab Could Go Public In SPAC With $40B Valuation

    Rideshare Company Grab Could Go Public In SPAC With $40B Valuation

    A Southeast Asian ride-hailing company is in talks to go public through a special purchase acquisition company (SPAC), according to a report in The Wall Street Journal. According to the publication, Grab Holdings could merge with one of two SPACs being led by Altimeter Capital Management LP in a deal that would value the Singapore-based company at $35 billion to $40 billion. The news comes just more than a month after Reuters reported Grab was considering a U.S. initial public offering (IPO) this year. The Reuters report suggested the IPO could raise at least $2 billion for the company. Grab is backed by SoftBank Group Corp. and Mitsubishi UFJ Financial Group. Grab offers ride-sharing, food delivery, payments and insurance in Southeast Asia, and it has signed a digital bank license in Singapore to offer banking services. In February, Grab closed a $2 billion term loan facility. JP Morgan served as the lead while Barclays, Deutsche Bank, HSBC, Mizuho, MUFG and Standard Chartered also were part of the round. See also: How to Invest in SPACs "I am deeply encouraged by the trust placed in us by investors who believe in our mission and recognize the value of our super app platform, as we continue making consistent progress in achieving our growth and sustainability milestones. With their support, we will invest in building a long lasting, multi local services business, so that millions of Southeast Asians can support their families and improve their lives with our everyday services," Anthony Tan, group CEO and co-founder, said in a statement. According to the Journal, the SPAC merger would net Grab between $3 billion and $4 billion in private investment in public entity (PIPE) funding, which is a funding round that is typically included in a SPAC merger. The Journal was unable to determine which of the two SPACs Altimeter would use for the merger. The company raised $450 million in a blank check IPO in October, and in early January, added a second, Altimeter Growth Corp. 2 (AGC 2), valued at $400 million. AGC 2 (NYSE: AGCB) is led by Brad Gerstner, founder and CEO of Altimeter Capital. The Silicon Valley Business Journal reported that AGC 2 was seeking a technology company to take public through a reverse merger. Altimeter has previously invested in UiPath, Modern Treasury and Workato and in January co-led a $520 million funding round in gaming company Roblox, which went public on Wednesday. Grab was most recently valued at $14.3 billion, according to CB Insights. It has raised $12.1 billion in total funding, according to Crunchbase. Softbank has invested at least $1.5 billion. In 2018, Grab acquired Uber's Southeast Asian business, but Uber acquired a 27.5% stake in Grab through the transaction. According to reports out of Asia, if Grab does not go public by 2023, it must pay Uber $2 billion. Click for more Modern Shipper articles by Brian Straight. You may also like: Social Auto Transport raises $1.5M in seed funding to expand gig economy auto-moving business Bringg's collaborationwith Uber opens new doors for e-commerce Walmart to begin drone delivery pilot this summer See more from BenzingaClick here for options trades from BenzingaDrone Team Honored For Delivering Life-saving KidneyCOVID Relief Bill Could Trigger Larger Tax Bills For Gig Workers© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.