- Broadband internet service provider Starry Inc aims for a public listing via the special purpose acquisition company (SPAC) merger with FirstMark Horizon Acquisition Corp (NYSE:FMAC).
- Boston’s Starry and the venture capital firm FirstMark backed SPAC would have a combined value of over $1.66 billion, Bloomberg reports.
- The transaction implies a pro forma enterprise value of $1.66 billion and will give Starry $452 million in cash on the balance sheet, including $130 million from a fully committed PIPE and contemporaneous equity round.
- Starry offers next-day or same-day installation. It has a presence in Boston, New York, Washington, Denver, and Los Angeles.
- Internet television service Aereo founder Chet Kanojia founded Starry.
- They aim to raise over $100 million in an equity placement to support the deal.
- Starry will be listed on a national exchange under the ticker symbol “STRY.”
- Price Action: FMAC shares closed at $9.81 on Wednesday.
‘It’s Not About Public Health & Safety, It’s About Greed’: Non-Profit Sounds The Alarm About Big Cannabis’ War On Hemp
Is the marijuana industry against hemp? If so, Why?
A non-profit advocacy organization committed to promoting policies and legislation that lead the way forward for hemp and CBD, the U.S. Hemp Roundtable is warning about the legislative efforts across several states that are endangering the hemp industry.
