SPAC merger

Grab Holdings on Altimeter Growth Corp. (SPAC), listing on Nasdaq (GRAB): the deal on record

Grab, the Singapore based ride hailing and delivery company, agreed in April 2021 to go public through a business combination with Altimeter Growth Corp., a special purpose acquisition company. The investor presentation gave a post-money equity value of USD 39.55 billion. The deal completed on 1 December 2021 with gross proceeds of USD 4.5 billion, including a USD 4.0 billion PIPE, and Grab shares were expected to begin trading on Nasdaq on 2 December 2021.^1,2

Timeline

1. 13 April 2021Altimeter Growth Corp. files materials on the proposed business combination with Grab, including an investor presentation.¹
2. 30 November 2021Altimeter Growth Corp. stockholders approve the business combination.²
3. 1 December 2021Grab announces completion of the business combination.²
4. 2 December 2021Expected first day of trading on Nasdaq under the ticker GRAB.²

Status now

Listed on Nasdaq as Grab Holdings Limited.²

Sources

1. Altimeter Growth Corp. via SEC EDGAR, Grab and Altimeter Growth Corp. investor presentation (Exhibit 99.2 to Form 8-K) (13 April 2021)
2. Grab Holdings via SEC EDGAR, Grab to Trade on Nasdaq Following Successful Business Combination with Altimeter (Exhibit 99.1 to Form 6-K) (1 December 2021)