SPAC Newbury Road Acquisition Corp. (NASDAQ:NBST) is reportedly in late-stage talks to mix with metaverse expertise developer Infinite Actuality, which in flip was slated to merge with Common Safety Devices (UUU).
Newbury and Infinite Actuality might announce a deal as early as subsequent week. Representatives for each firms declined to touch upon the matter, in keeping with a Bloomberg Report, which cited folks near the matter.
Newbury Road went public in March 2021, elevating round $120M.
Infinite Actuality is backed by a number of celeb traders, together with rock band Think about Dragons, DJ/music producer Steve Aoki, NFL participant Landon Collins and NBA participant Rudy Gobert. The corporate introduced a multi-year partnership in October with Warner Bros. Discovery (WBD) to develop immersive content material for sports activities followers.
In July, Infinite Actuality acquired e-sports firm ReKTGlobal for $470M in inventory. The deal valued the mixed firm at round $2.5B.
Infinite Actuality was slated to merge with Common Safety Devices (UUU), with Infinite Actuality proudly owning round 97% of the ensuing mixed firm. In March, Infinite Actuality introduced it had secured a standby fairness buy settlement with Yorkville International Companions for as much as $200M in fairness financing upon completion of the merger.
Common Safety Devices 10-Q report filed with the SEC in November indicated that the merger was nonetheless shifting ahead.