https://techcrunch.com/2023/01/13/stratospheric-balloon-company-world-view-to-go-public-in-350m-spac-deal/

World View, a startup developing stratospheric balloons for Earth observation and tourism, is heading to the public markets. The company announced Friday that it would merge with special purpose acquisition company (SPAC) Leo Holdings Corp. II in a deal worth $350 million, as the startup seeks to build out what it calls “the stratospheric economy.”

The deal, which is expected to close in the second quarter of this year, will provide the combined company with up to $121 million in gross proceeds, plus an option to enter into additional equity financing agreements for up to $75 million. The $121 million figure is assuming no shareholder redemptions, however, and as we’ve seen with some space SPACs in the past – notably Virgin Orbit, which we covered earlier this week – an unexpected number of redemptions can sometimes drastically eat into that figure.