Colonnade Acquisition Corp. II to Take Plastiq Public via Business Combination

August 4, 2022

Plastiq Inc., a B2B payments platform for small and midsize businesses, has entered into a definitive merger agreement with special purpose acquisition company Colonnade Acquisition Corp. II to take Plastiq public. The combined company will operate as Plastiq with an implied enterprise value of approximately $480 million at closing and is expected to add about $320 million of cash to the balance sheet to support organic and inorganic growth.

Buyers
Colonnade Acquisition Corp. II
Targets
Plastiq Inc.
Location
California, United States
Transaction Type
Growth capital

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