Deals
Dog Walking Startup Wag In Merger Talks With CHW SPAC
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Dog-walking startup Wag Labs Inc. is in talks to go public through a merger with CHW Acquisition Corp., according to people with knowledge of the matter.
The special purpose acquisition company is in discussions to raise funds for a private investment in public equity, or PIPE, to support the transaction with Wag. The combined entity is set to have an enterprise value of about $350 million, the people said, declining to be named discussing private information. The transaction value is based on a multiple of projected revenue of about $42 million in 2022 and $71 million in 2023. Terms aren’t finalized and it’s possible talks could collapse.