Seven Oaks has entered into a forward purchase agreement for up to $100 million with an affiliate of Atalaya Capital Management to support the SPAC’s pending merger with Boxed, an eCommerce platform for groceries.
Atalaya is a privately held, SEC-registered alternative investment advisory firm that focuses primarily on private credit and special opportunities investments.
A Seven Oaks shareholder vote on the proposed merger is set for Dec. 7.
If approved, Boxed stock and warrants will list on the NYSE under BOXD and BOXD WS.
In addition to the FPA announced today, terms of the deal announced in June call for the combined company to receive $334 million in net cash proceeds from a combination of Seven Oaks’ cash in trust of approximately $259 million (assuming no redemptions) as well as a $120 million fully committed PIPE. Read more.
