ION Acquisition 2 Files Prelim Proxy on $1.3B Innovid Deal

ION Acquisition 2

ION Acquisition 2 filed an S-4 with the SEC outlining its proposed merger with Innovid, an independent ad delivery and measurement platform for connected TV. A vote date has not yet been disclosed.

Announced in June, the transaction implies a pro forma valuation of approximately $1.3 billion for Innovid, which has also secured approximately $150 million of PIPE financing anchored by Fidelity Management and Research Company, Baron Capital Group and others including funds affiliated with ION and Phoenix Insurance. Ion 2 raised $220 million in a January IPO.

Innovid is focused on developing technology infrastructure for the creation, delivery, and measurement of TV ads across connected TV (CTV), mobile TV and desktop TV.

Existing investors including Goldman Sachs, Sequoia Capital, Newspring, Genesis Partners and Vintage will remain shareholders under the proposed structure.

If the deal is approved, Innovid will trade on the NYSE. Read more

 

Total
0
Shares
Related Posts