Report: Perella Weinberg Advisory Arm Pursuing Public Listing Via SPAC

Banzai is a marketing technology company.

While redemptions removed about 87% of the Avalon trust, the parties earlier this week entered into a forward purchase agreement with RiverNorth SPAC Arbitrage Fund. RiverNorth agreed to buy $25 million in Avalon shares that would have been redeemed. Also, there was no minimum cash condition to close.

The target produces energy harvesting Internet-of-Things (“IoT”) devices and sensor-to-cloud solutions.