The Petco-backed pet services provider is set to be valued at about $1.6bn in a deal that will involve it listing on the Nasdaq Capital Market.
Rover, the US-based petsitting and dog walking service that counts pet product retailer Petco as an investor, agreed yesterday to list through a reverse merger with a special purpose acquisition company (SPAC).
The deal will involve Rover teaming up with Nebula Caravel Acquisition Corp, which is sponsored by technology investment firm True Wind Capital. Rover will also take the place on the Nasdaq Capital Market the SPAC secured through a $250m initial public offering in December 2020.
The merged…
