Grocery retailer Boxed is going public in an $887 million SPAC deal
CNN
Online grocery shopping is hotter than ever, and Boxed is cashing in: It's going public in an $887 million deal with a special purpose acquisition company.
Boxed, which was founded in 2013 and has 7 million users, delivers wholesale grocery and bulk items to consumers and businesses across the country. The company will merge with Seven Oaks Acquisition Corp. through a SPAC deal, a so-called blank check merger that allows companies to make their market debuts without the fuss of an initial public offering. Like grocery delivery, SPACs have also been super hot as of late.
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