Allrites Reportedly Merging with Aura FAT Projects in $92M Deal

Allrites Holdings Pte, a Singaporean film and television content rights marketplace, has agreed to go public through a merger with US-listed blank check firm Aura FAT Projects Acquisition, Bloomberg reports.

The transaction will give Allrites an enterprise value of $92 million on a pro forma basis. The deal also includes a potential $18 million in earnout over two years, subject to the company achieving certain revenue targets. The agreement also allows Aura Fat Projects to seek a PIPE before closing the transaction.

The SPAC raised $115 million in an April 2022 IPO to focus on new emerging technology companies with an acute growth potential in Southeast Asia and Australasia. Read more.

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