3 Firms Build SPAC Deal For $2.2B Real Estate Tech Provider
By Benjamin Horney (April 22, 2021, 10:16 AM EDT) -- SmartRent.com, which provides enterprise smart home automation technology for property owners and renters, will go public at a roughly $2.2 billion equity value by merging with a special purpose acquisition vehicle, the companies said Thursday, in a deal crafted by DLA Piper, Gibson Dunn and Simpson Thacher.
The agreement unites SmartRent.com Inc. and Fifth Wall Acquisition Corp. I, a special purpose acquisition company or SPAC backed by real estate-focused venture capital firm Fifth Wall, the companies said in a statement. The resulting entity will trade on the Nasdaq Stock Exchange. The deal will allow SmartRent to expand its business into regions...
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