Deal Snapshot
Beneficient Company Group to Go Public Following Combination with SPAC
Thursday 22 September 2022

US-based special purpose acquisition company (SPAC) Avalon Acquisition Inc. (NASDAQ: AVAC) has entered into a merger agreement with alternative asset solutions provider The Beneficient company Group, L.P., providing liquidity, data, custody and trust services to holders of alternative assets, to list as a public company expected to list on NASDAQ, the company said.

The combination implies an enterprise valuation of USD 3.5bn, including approximately USD 200m in gross proceeds from Avalon's cash in trust assuming no redemptions.


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Details
Date Published: 22/09/2022

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