CC Neuberger Principal Holdings I (stock symbol: PCPL), a SPAC that raised $414 million when it went public in April 2020, has agreed to merge with E2Open, LLC, "a business-to-business provider of cloud-based, on-demand software for supply chains for computer, telecom and electronics systems, components and services."
Investor presentation: sec.gov
PCPL is trading at $10.18 this afternoon, down $.35
Exclusive: Supply chain software firm E2open nears deal to go public - sources
Joshua Franklin,
Reuters
23 hours ago
(Reuters) - U.S. supply chain management software firm E2open LLC is nearing a deal to go public through a merger with blank-check acquisition company CC Neuberger Principal Holdings I at a valuation of more than $2.5 billion, including debt, people familiar with the matter said on Tuesday.
An agreement could be announced as soon as Wednesday, the sources said, cautioning that talks could still falter. E2open is owned by private equity firm Insight Partners.
The sources requested anonymity because the matter is confidential. CC Neuberger declined to comment. E2open and Insight Partners did not immediately respond to requests for comment.
CC Neuberger I is a special purpose acquisition (SPAC), which is a shell company that uses money raised in an initial public offering to acquire a private company which then becomes public as a result.
CC Neuberger I, led by veteran Wall Street dealmaker Chinh Chu's investment firm, raised $414 million in an IPO in April with the aim of buying a company in the financial, technology and business services sectors.
(Reporting by Joshua Franklin in Boston; Editing by Richard Chang)
https://www.businessinsider.com/exclusive-supply-chain-software-firm-e2open-nears-deal-to-go-public-sources-2020-10 |
