Motorola Solutions is among the participants supplying $300m in PIPE financing as the contactless security system developer agrees to list through a reverse takeover.
Evolv Technology, a US-based touchless screening technology developer backed by corporates Motorola Solutions and Stanley Black & Decker, agreed a reverse takeover with special purpose acquisition company NewHold Investment Corp on Monday.
The transaction will give the merged company a post-transaction pro forma enterprise value of $1.25bn and the spot on the Nasdaq Capital Market taken by NewHold when it floated in a $150m initial public offering in August 2020.
Communications equipment maker Motorola Solutions, Magnetar Capital, Eldridge, Senator Investment…
