Howard Lutnick’s SPAC is taking smart-glass company public
Cantor Fizgerald’s deal values View at $1.6B
Smart-glass company View is set to go public through a special purpose acquisition company merger.
The company announced Monday it had reached an agreement with a SPAC sponsored by Cantor Fitzgerald. The deal values View at $1.6 billion, according to Bisnow.
The company, which is expected to be listed on the Nasdaq stock exchange, will reap about $800 million.
It has been a boom year for SPACs, which have raised more than $30 billion as of September, compared to $13 billion in 2019, according to the New York Times. The mergers offer a quicker way for companies to get to the stock market, avoiding a lengthy IPO process.
Founded in 2007, California–based View makes “dynamic” glass windows that reduce heat and glare and adjust in response to light, according to its website.
Cantor Fitzgerald CEO Howard Lutnick told Bisnow his team was excited to work with View “to not only help deliver the capital needed to further build out View’s capacity, but also leverage our real estate platforms to create awareness, scale and drive change across the real estate industry.” [Bisnow] — Sylvia Varnham O’Regan