Enjoy Technology Inc., a startup that operates mobile retail stores focused on selling and helping users set up technology products, is going public through a merger with blank-check company Marquee Raine Acquisition Corp.
The merger with the special purpose acquisition company, or SPAC, will give Enjoy an enterprise value of $1.2 billion and about $450 million in growth capital, with $80 million of that coming from private investors. Enjoy, started by former Apple Inc. executive Ron Johnson, announced the deal with Marquee on Wednesday, confirming an earlier Bloomberg News report on the talks.
Enjoy said it’s aiming to complete the deal in the third quarter with shares of the combined company trading on Nasdaq under the symbol ENJY.
Source: Bloomberg
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