Rhea-AI Summary
Blackstone Products has announced a definitive business combination agreement with Ackrell SPAC Partners I Co. (Nasdaq: ACKIU), aiming for Blackstone to become a public company. The pro forma enterprise value of the combined entity is set at $900 million. Blackstone has shown strong growth with a 72% CAGR in net revenue from 2016 to 2020, projecting over $450 million in revenue for 2021 and over $600 million for 2022. The transaction will close in Q2 2022, with Blackstone to be listed under the new ticker symbol 'BLKS'.
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