Tucson-based high-altitude balloon operator World View Enterprises plans to go public on the New York Stock Exchange through a merger.
David Wichner Tucson-based high-altitude balloon operator World View Enterprises plans to go public on the New York Stock Exchange by merging with an already listed company, in a deal that values the company at an estimated $350 million.
The boards of World View and Leo both unanimously approved the transaction, which will require the approval of the stockholders of World View and the shareholders of Leo and is subject to other customary closing conditions, the companies said in a news release. World View may receive up to $121 million in proceeds from the deal, assuming no shareholders elect to redeem their shares and after the effect of a planned $75 million financing deal to be raised by both parties, the companies said.
The new release cited World View’s strong national security, research and commercial strategic partnerships and agreements, near-term revenue potential, patent-protected technologies and strong management. Contact senior reporter David Wichner at [email protected] or 520-573-4181. On Twitter: @dwichner. On Facebook: Facebook.com/DailyStarBiz
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