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GARAGE

Grab's US$39.6b SPAC deal comes with bells and whistles

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Claudia Chong

Claudia Chong

Published Tue, Apr 13, 2021 · 09:50 PM

    Singapore

    GRAB is set to go public at a US$39.6 billion valuation via an upcoming merger with Altimeter Growth, a special purpose acquisition company (SPAC). This is set to be the largest-ever SPAC merger.

    Grab's deal comes with two atypical features: a three-year lockup period and a backstop. This is notable as SPACs have attracted criticism over the lack of safeguards to ensure long-term sponsor commitment.

    GrabRide-hailing

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