Grofers explores merger with Cantor Fitzgerald’s SPAC For Nasdaq Listing
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SoftBank-backed online grocery seller Grofers is expected to raise $400-$500 Mn through a public listing on Nasdaq by merging with New York-based Cantor Fitzgerald’s blank-check firm. According to a report, Grofers is looking to raise this money at a valuation of $1 Bn. A blank check firm also called a special purpose acquisition company, is a development stage company with a business plan centred around a merger or acquisition.