Nebula Caravel Acquisition announced that its stockholders approved all proposals related to the business combination with A Place for Rover. The transaction values the combined company at an enterprise value of $1.35 billion.
Net transaction proceeds of approximately $240 million are expected to be added to Rover’s balance sheet.
The deal is expected to close tomorrow. Following closing, Rover Group common stock and warrants will trade on the Nasdaq under ROVR and ROVRW starting in August.
Founded in 2011 and based in Seattle, Rover is billed as “the world’s largest online marketplace for pet care.” Rover connects pet parents with pet providers who offer overnight services, including boarding and in-home pet sitting, as well as daytime services, including doggy daycare, dog walking, drop-in visits, and grooming. Read more.
