Gesher I Acquisition and Jerusalem-based Freightos Limited today announced the confidential submission to the SEC of a draft registration statement on Form F-4 relating to their proposed business combination.
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 $500 million and the pro forma enterprise value has been pegged at $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 used to further scale the business, driving transaction value and improving margins. Read more.
