Fenix 360 Pte Ltd To Go Public Through Merger With Special Purpose Acquisition Company DUET Acquisition Corp.; Transaction Values FENIX360 At $610M Enterprise Value
Portfolio Pulse from Benzinga Newsdesk
Fenix 360 Pte Ltd, a private company, has announced it will go public through a merger with DUET Acquisition Corp., a Special Purpose Acquisition Company (SPAC). The transaction values Fenix 360 at an enterprise value of $610 million.
November 28, 2023 | 10:28 pm
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DUET Acquisition Corp., a SPAC, is merging with Fenix 360 Pte Ltd, valuing the latter at $610 million. This merger will take Fenix 360 public.
The announcement of a merger with a private company typically generates positive interest in the SPAC involved, as it provides a clear path towards an acquisition and potential growth opportunities. Given the significant valuation of Fenix 360 at $610 million, investors may view this positively in the short term, leading to a potential increase in DUET's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100