Pet sitting marketplace Rover grabs a bone, valued at $1.3 billion in latest SPAC deal

Another day, another SPAC. Today, we’ve learned that Seattle online pet sitting marketplace Rover plans to join the public ranks via a merger with True Wind Capital’s SPAC that values the company at a $1.35 billion enterprise valuation.

The deal: Rover will add approximately $325 million to its cash balance as part of a merger with Nebula Caravel Acquisition Corp, a publicly-traded SPAC sponsored by True Wind. That includes $275 million from the SPAC and $50 million from institutional investors via private investments in public equity, also known as a common stock PIPE, which is used to fuel a

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