Sio Silica Corporation To Go Public Via Business Combination With Pyrophyte Acquisition Corp.; Terms Of Business Combination Imply An Enterprise Value Of $708M And Equity Value Of $758M For Combined Company
Portfolio Pulse from Benzinga Newsdesk
Sio Silica Corporation is set to go public through a business combination with Pyrophyte Acquisition Corp. The terms of the deal imply an enterprise value of $708 million and an equity value of $758 million for the combined entity.
November 13, 2023 | 12:45 pm
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Pyrophyte Acquisition Corp. (PHYT) is merging with Sio Silica Corporation, implying a combined enterprise value of $708M and equity value of $758M.
The announcement of a business combination typically leads to increased investor interest and potential stock price movement. Given the significant implied enterprise and equity values, this merger is likely to be viewed positively by investors, potentially leading to a short-term increase in PHYT's stock price.
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IMPORTANCE 90
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