Hands-free wearable tablet company RealWear and Cascadia Acquisition today announced a business combination agreement at a post-transaction enterprise value of $375.5 million. That assumes no redemptions.
If approved, upon closing RealWear is expected to trade on the Nasdaq.
The SPAC plans a Feb. 15 meeting for shareholders to vote on extending the merger completion date to Aug. 31.
Cascadia has $150 million of cash in trust. Proceeds for the transaction are expected to consist of remaining cash in trust following any redemptions and up to $35 million of additional financing.
RealWear provides wearable assisted reality solutions to frontline professionals to engage, empower, and elevate the modern industrial worker to be more efficient and perform work tasks more safely and with precision, according to a press release. The company’s assisted reality tools enable frontline professionals to view, communicate and share documents, diagrams, photos, and video, all while keeping their hands and field-of-view free for the work. Read more.
