IACA Stock: 12 Things to Know About Ion Acquisition and the Taboola SPAC Merger

Ion Acquisition (NYSE:IACA) stock is on the rise Monday after announcing plans to take Taboola public via a special purpose acquisition company (SPAC) merger.

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Here’s everything investors need to know about Ion Acquisition and the upcoming SPAC merger.

  • Ion Acquisition is a SPAC with the purpose of taking another company public.
  • It was created with a focus on “Israeli companies and entrepreneurs that apply technology and innovation to our everyday lives.”
  • However, it notes that this wouldn’t stop it from combining with any company in any industry.
  • The company is sponsored by Ion Holdings 1, LP, which is an affiliate of Ion Asset Management Ltd.
  • Taboola is a digital advertising company that makes use of artificial intelligence (AI).
  • Its partners include CNBC, NBC News, Business Insider, The Independent, and El Mundo.
  • The SPAC merger with Taboola values the combined company at $2.6 billion.
  • It will also provide Taboola with roughly $545 million in funding.
  • That’ comes from $259 million held in trust by Ion Acquisition and another $285 million from a private investment in public equity (PIPE).
  • The PIPE is backed by institutional investors, as well as “Fidelity Management & Research Company LLC, Baron Capital Group, funds and accounts managed by BlackRock, Hedosophia, the Federated Hermes Kaufmann Funds” and others.
  • The SPAC merger is set to close in the second quarter of 2021.
  • After this, the company will operate under the Taboola name, and shares of IACA stock will change to the TBLA stock ticker.

IACA stock was up 33.2% before markets opened on Monday.

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/2021/01/iaca-stock-12-things-to-know-about-ion-acquisition-and-the-taboola-spac-merger/.

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