HumanCo Acquisition today in aqn 8-K filing disclosed that earlier this week BlackRock entered into a unit purchase agreement with CAVU Venture Partners III, an affiliate of the SPAC’s sponsor, to buy 2.5 million units of HumanCo. The units were initiall sold to CAVU in tandem with the SPAC’s December 2020 IPO, which netted $312.5 million.
As part of the deal for taking over CAVU’s stake, BlackRock will also receive 1.37 million Class B shares that will convert to Class A stock at the close of a business combination, with a one-year lockup subject to early release if certain price thresholds are met. The sale price for those converted shares is $4,900.
BlackRock is a perennial backer of SPACs.
HumanCo is focused on consumer businesses, especially in the healthy living space. Read more.
