Blackstone Products To Become Public Company - Quick Facts

(RTTNews) - Blackstone Products, and Ackrell SPAC Partners I Co. (ACKIU), a publicly-traded special purpose acquisition company, have entered into a business combination agreement that will result in Blackstone becoming a public company. The combined company will be renamed Blackstone Products, Inc. and expects to apply to be listed on the Nasdaq under the ticker symbol, BLKS. The combination implies a pro forma enterprise valuation for Blackstone of $900 million.

The combined company is anticipated to be led by Roger Dahle, Founder and Chief Executive Officer of Blackstone. The transaction will provide approximately $95 million in estimated gross proceeds to Blackstone Products, assuming no redemption by Ackrell shareholders.