The deal, which is expected to close in April, gives the combined firm an implied valuation of $537 million. Montreal-based Taiga’s pleasure-craft vehicles are electric-powered. (The Logic)
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The deal, which is expected to close in April, gives the combined firm an implied valuation of $537 million. Montreal-based Taiga’s pleasure-craft vehicles are electric-powered. (The Logic)
Talking point: Canaccord Genuity Growth II was one of just eight open special-purpose acquisition companies (SPACs) on Canadian exchanges at the end of last year, according to The Logic’s analysis. Home IoT device maker Ecobee was reportedly in talks to go public through the Canaccord SPAC, as of October 2020. Taiga was only founded in 2015, but hopes to tap into what it says is growing interest in electric recreational vehicles. Battery-powered motorbike maker Damon has similarly made significant presales. The Taiga-Canaccord deal includes a private placement of $100 million, including from Northern Private Capital, a Toronto-based investment firm backed by billionaire John Risley that also helped repatriate the Canadian arm of space firm MDA in December 2019.
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