DLQ, a provider of digital consumer acquisition solutions and wholly-owned subsidiary of Logiq, today announced a merger agreement with Abri SPAC I. Abri proposes to issue 11.4 million shares in exchange for DLQ shares. At $10 per Abri share, the valuation of DLQ is $114 million.
The SPAC raised $57.34 million in an August 2021 IPO. No other funding sources are cited in the press release announcing the deal and Abri has yet to file a merger agreement with the SEC.
If approved, upon closing the combined company is expected to list on the Nasdaq under the name DataLogiq.
The transaction is expected to close in the first quarter of 2023.
DLQ, Inc. is a U.S.-based provider of e-commerce and digital customer acquisition solutions by simplifying digital advertising. It provides data-driven, end-to-end marketing.
Abri in July terminated a deal with blockchain tech company Apifiny by mutual agreement. Read more.
