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CLA Stock: Colonnade Acquisition Corp. Soars on Ouster SPAC Merger News

Colonnade Acquisition Corp. (NYSE:CLA) stock is taking off on Tuesday following news of a special purpose acquisition company (SPAC) merger with Ouster.

Image of two men shaking hands over a table.

Source: Natee Meepian / Shutterstock.com

Here’s everything investors in CLA stock need to know about the Ouster SPAC merger news.

  • The merger will have Colonnade Acquisition Corp. being renamed to Ouster, Inc., once the deal closes.
  • This will also result in shares of CLA stock changing over to the new OUST stock symbol.
  • Ouster is valued at $1.6 billion pro forma post-money enterprise value by the merger.
  • A private investment in public equity (PIPE) will give the company $100 million to work with after the merger is complete.
  • It’s also worth mentioning that all current Ouster shareholders will roll their equity over into the new company.
  • When the Ouster SPAC close, its current management team will continue to lead the combined company.
  • The Boards of Directors at both companies have given their unanimous support to the deal.
  • So long as there are no issues, Colonnade Acquisition Corp. and Ouster are expecting the SPAC merger to close in the first half of 2021.
  • Ouster is a creator of lidar systems that was founded in 2015.
  • The company’s lidar cameras are used in several industries.
  • Among these are the “industrial automation, smart infrastructure, robotics, and automotive industries.”
  • Colonnade Acquisition Corp. was able to quickly secure a partner for a SPAC merger, having only gone public in August of this year.
  • CLA stock has seen higher trading today as more than 12 million shares have moved as of this writing.
  • To put that in perspective, the company’s daily average trading volume is only about 86,000 shares.

CLA stock was up 38.9% as of noon Tuesday.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/12/cla-stock-colonnade-acquisition-corp-soars-on-ouster-spac-merger-news/.

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