Cyxtera to go public through SPAC merger valued at $3.4b; joins retail, interconnection peer group
Cyxtera will combine with Starboard Value Acquisition Corp. (SVAC) (NASDAQ: SVAC), a publicly traded special-purpose acquisition company (or SPAC), in a transaction that is expected to close in mid-2021. SPACs have recently become a popular way for private companies to bypass the traditional IPO process and merge with an existing publicly traded ‘shell’ entity.
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