Digital insurance platform Metromile completed its business combination with INSU Acquisition II within hours of the SPAC’s Feb. 9 shareholder vote approving the deal.
The combined company is named Metromile and its common stock begins trading today on the Nasdaq under MILE. Warrants will trade under MILEW.
The deal was was funded by a combination of INSU II’s approximately $230 million cash-in-trust and $170 million of proceeds from the previously announced PIPE, which was fully committed by a pool of institutional and strategic investors. Read more.
