Bolt Threads To Become A Public Company, Growing Its Pioneering Biomaterials Platform Through Business Combination With Golden Arrow Merger Corp.
Portfolio Pulse from Benzinga Newsdesk
Bolt Threads, a pioneer in sustainable biomaterials for consumer products, has entered into a definitive business combination agreement with Golden Arrow Merger Corp. (NASDAQ:GAMC). The deal values Bolt Threads at $250M and is expected to provide at least $35M of gross proceeds to the company. The transaction is expected to enable high-volume distribution and adoption of Bolt Threads' biomaterials in consumer goods, starting with beauty and personal care. Upon closing, the combined company will be named 'Bolt Projects Holdings, Inc.' and is expected to remain listed on Nasdaq under a new ticker symbol 'BSLK'.
October 04, 2023 | 12:16 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Golden Arrow Merger Corp. (NASDAQ:GAMC) is entering into a business combination with Bolt Threads, which is expected to provide at least $35M of gross proceeds to the company. The combined company will be named 'Bolt Projects Holdings, Inc.' and is expected to remain listed on Nasdaq under a new ticker symbol 'BSLK'.
The business combination with Bolt Threads is a significant event for Golden Arrow Merger Corp. as it will result in a new combined company that will remain listed on Nasdaq. This could potentially attract new investors and increase the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100