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December 30, 2021
HOT DEAL - Blackstone Products Inc., an outdoor griddle company, is going public via SPAC merger with Ackrell SPAC Partners I Co. As a result of the merger and related PIPE financing, Blackstone Products will be listed on the Nasdaq with a post-transaction equity value of approximately US$900 million. The transaction, announced Dec. 23, is expected to close in the second quarter of 2022. Logan, Utah-based Blackstone Products was represented by an O’Melveny & Myers LLP team led by partners Noah Kornblith, Jeeho Lee, and Warren T. Lazarow. Ackrell was advised by Ellenoff Grossman & Schole. Sidley Austin counseled Nomura Securities International Inc. and Barclays Capital Inc. in their role as placement agents on the PIPE.
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