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Quality Gold To Go Public With $989 Million Deal October 25, 2022 (0 comments)

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Fairfield, OH--Speciality logistics and jewelry distributor company Quality Gold plans to go public in the US with a bank merger in a deal valued at $989 million, according to a news report.

The deal with Tastemaker Acquisition Corp. will be marked with $279 million in proceeds (with no redemptions) from the special purpose acquisition company's (SPAC) trust account.

Per the report, the merger comes at a time when the SPAC market in the US is facing several challenges, including rising volatility, wary investors, and a higher redemption rate.

The De-SPAC Index, which tracks companies taking the alternate route to list, is down around 66% in 2022. 

SPACs, per the report, are publicly listed companies set up to merge with private companies. The private company goes public after the merger.

Read the original report

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