Cano Health to list via $4.4 billion merger with Barry Sternlicht-backed SPAC

  • 📰 Reuters
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 97%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

Healthcare provider Cano Health LLC will be taken public through a merger with a blank-check company backed by real estate investor Barry Sternlicht, in a deal worth $4.4 billion deal, including debt, the companies said on Thursday.

was listed on the New York Stock Exchange in May.

A SPAC is a shell company that uses IPO proceeds to buy another company, typically within two years, in a merger that will take the acquired company public. Investors are not notified in advance on what company the SPAC will buy. SPACs have emerged as a popular IPO alternative for companies this year, providing a path to going public with less regulatory scrutiny.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in AU

Australia Australia Latest News, Australia Australia Headlines