World View To Combine With Leo Holdings Corp. II

(RTTNews) - World View, a stratospheric exploration and flight provider Friday announced a definitive combination agreement with special purpose acquisition company Leo Holdings Corp. II (LHC).

As per the agreement, World View may receive up to $121 million in gross proceeds. The combined company will have an estimated enterprise value of $350 million.

Upon combination, World View will become a publicly listed company. The Boards of World View and Leo each unanimously approved the transaction.

World View said it plans to use the capital to expand its global remote sensing business into new markets and industries and will continue developing its next-generation capabilities including its space tourism and research and education businesses.

The transaction is expected to close in the second quarter of 2023.