Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, August 26, 2022

Article Excerpt

WAG! GROUP CO., $5.94, symbol PET on Nasdaq, is the developer of a mobile-first technology platform that provides on-demand and scheduled pet-care services such as dog walking, training, pet sitting, etc. It considers itself the one-stop shop for premium pet care. Since its launch in 2015, Wag through its network of more than 400,000 caregivers, has delivered over 12 million pet care services through the Wag! Platform. Wag! also operates Petted.com, one of the U.S.’s largest pet insurance comparison marketplace. Additionally, the Wag! Pet Caregiver App aims to empower pet caregivers to care for pets in their neighbourhood to earn money. On February 3, 2022, Wag announced that it would combine with CHW Acquisition Corporation, a special purpose acquisition company (SPAC). SPACs are a specialized kind of IPO (Initial Public Offering, or new stock issue). One key difference is that SPACs, also referred to as “blank-check companies,” raise money from investors without providing a detailed business plan. The SPAC goes through an IPO-like process,…