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Israeli firm files for $220 million SPAC on Wall Street, days after Taboola deal

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An Israeli special purpose acquisition company, or SPAC, filed Tuesday to raise $220 million in an initial public offering on the New York Stock Exchange with the aim of taking an Israeli tech company public in the future.

ION Acquisition Corp 2, formed by Israel’s ION Asset Management, filed for its IPO days after its parent company’s first SPAC merged with Israel’s Taboola at a valuation of $2.6 billion.

SPACs are shell companies that aim to raise capital by going public, then merge with and into an existing company, in a process that is generally easier and quicker than a traditional initial public offering. SPACs have been around for decades but have been a major market trend in the past year.

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ION’s new SPAC is not eyeing any particular business but will focus on taking another Israeli company public in the US, according to........

© The Times of Israel

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