Aura FAT Projects Acquisition said it deposited $50,000 into trust to extends its initial business combination completion date from May 18 to June 18.
The SPAC has a deal in hand with Allrites, a global B2B content marketplace.
Singapore-based Allrites owns proprietary Content as a Service (“CaaS”) technology for film & TV content rights for buyers, including established and emerging broadcasters and streaming platforms and sellers such as major studios, independent producers and production companies around the world.
The deal pegs Allrites’ enterprise value at around $92 million, with a potential earnout of up to $18 million over two years if certain revenue targets are met. Read more.
