O’Melveny has represented outdoor griddle company Blackstone Products in its business combination agreement with Ackrell SPAC Partners I Co (Nasdaq: AKIU) which will result in Blackstone becoming a publicly traded company.
The transaction was announced on 23 December and implies a combined company pro forma enterprise value of USD900 million.
The transaction is expected to close in the second quarter of 2022, subject to closing conditions. Upon closing, the combined company will be renamed Blackstone Products, Inc and expects to apply to be listed on the Nasdaq under the new ticker symbol “BLKS”.
Ackrell SPAC Partners I Co. is a “blank check company” formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganisation, or similar business combination with one or more businesses.
