Home Entertainment French company Digital Virgo is listed in the US in a $513 million SPAC deal

French company Digital Virgo is listed in the US in a $513 million SPAC deal

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(Reuters) – Digital Virgo said Thursday it will list in the United States in a blank check deal that values ​​the French mobile payments platform at $513 million, including debt.

The Lyon-based company is present in more than 40 countries and offers more than 2 billion users a single platform to pay for sports, entertainment and games as part of their phone bills.

Digital Virgo is one of the few companies that chose to list in the US during a period of significant market turmoil.

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Objective Acquisitions Corp. will acquire acquired shares of Digital Virgo at $10 each, with the deal providing the latter with at least $100 million. The deal is expected to close in the first quarter of next year.

A Special Purpose Acquisition Company (SPAC) is a public company that does not have an inherent business model, formed solely to bring other companies into the markets through mergers.

Goal is run by sports executives including Harvey Schiller and Bill Duffy, basketball star Michael Jordan and former agent David Falk.

Covered by Mahnaz Yasmin in Bangalore. Editing by Vinay Dwivedi

Our Standards: The Thomson Reuters Trust Principles.

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