Online advertising company Taboola announced it has entered into a definitive merger agreement with ION Acquisition 1.
The transaction implies a pro forma valuation of approximately $2.6 billion.
The deal consists of the SPAC’s $259 million in trust and the approximately $285 million in primary and secondary PIPE financing from institutional investors secured by Taboola.
The combined company will operate under the Taboola name and will trade on the NYSE under TBLA. The transaction is expected to close the second quarter pending shareholder approvals.
Taboola is perhaps best known for its “chumbox advertising” at the bottm of web pages, offering recommendations for site visitors. Read more.
