WinVest Acquisition filed a presentation promoting its proposed merger with Xtribe. The target offers a platform designed to enable individuals and businesses to easily trade goods and services either online or in-person by creating a virtual marketplace where users can discover, buy, and sell a wide range of products.
The deal has a pro forma equity value of $161.1 million. There is a $15 million minimum condition to close.
Funding is expected to include a $20 million PIPE the SPAC intends to raise.
Up to 6 million earnout shares would be issued in three tranches if the merged company hits certain stock thresholds.
Xtribe said it leverages advanced technologies, such as artificial intelligence and data analytics, to enhance the user experience.
WinVest originally raised $115 million in a September 2021 IPO with plans to target businesses in the financial services industry, with a particular focus on financial media, brokerage, banking, investing, and wealth management. Read more.
