Israel-based Freightos Limited, a global freight booking and payment platform, and Gesher I Acquisition plan to merge at a pro forma enterprise value of approximately $435 million.
If approved, Freightos would list on the Nasdaq under the ticker symbol FROS.
Freightos connects participants across the international freight ecosystem, including hundreds of airlines, ocean liners, and trucking companies, as well as thousands of freight forwarders and over ten thousand importers and exporters, through a digital platform that allows real-time global freight-rate comparison, booking, and shipment management. The capital raised from the transaction will be invested to further scale the business, driving transaction value and improving margins.
The business combination is projected to generate gross proceeds of at least $80 million (and up to $166 million depending on redemptions). The implied pro forma equity value of the combined company is expected to be at least approximately $500 million.
Existing Freightos shareholders are expected to own up to 78% of the combined company after funding.
Gesher I last month raised a proactive $10 million backstop, before any deal had been announced. The SPAc raised $100 million in an IPO last October. Read more.
