Rover, Nebula Caravel Acquisition Corp. to Participate in SPACInsider Webinar March 31
A Place for Rover, Inc. the world’s largest network of five-star pet sitters and dog walkers and Nebula Caravel Acquisition Corp., a publicly traded special purpose acquisition company sponsored by True Wind Capital, today announced that the two companies will participate in a webinar hosted by SPACInsider on Wednesday, March 31, 2021 at 2 pm ET to discuss Rover and Caravel’s proposed business combination.
The webinar for this event can be accessed here.
Participants in the webinar will include:
- Aaron Easterly, Co-Founder and Chief Executive Officer of Rover
- Tracy Knox, Chief Financial Officer of Rover
- Charlie Wickers, VP of Finance of Rover
- Adam Clammer, Chief Executive Officer of Caravel and Co-CEO of True Wind Capital
Rover, the leading online marketplace for pet care, connects pet parents with local, high-quality pet care providers who offer a wide range of services, including boarding, in-home pet sitting, doggy daycare, dog walking, drop-in visits and grooming. Since its inception through 2020, more than 2 million pet parents have booked services on Rover with more than 500,000 pet care providers across North America and Europe. Rover was created to provide a better pet care alternative for pets and their parents than the existing options of friends and family, neighbors and kennels. Rover built a simple, easy-to-use platform and mobile app to enable pet parents to discover, book, pay and review loving pet care providers online. Rover eliminates many of the barriers of pet ownership, enabling Rover’s mission to make it possible for everyone to experience the unconditional love of pets.
On Feb. 11, 2021, Rover and Caravel entered into a definitive business combination. Upon closing of the transaction, which is expected to be completed in the first half of 2021, the combined company intends to trade on Nasdaq under the new ticker symbol, “ROVR”, with an anticipated implied enterprise value of approximately $1.35 billion. Institutional investors have committed to a private investment of $50 million in Class A common stock of the combined company that will close concurrently with the business combination. It is anticipated that the combined company will have an equity market capitalization at closing of approximately $1.63 billion and have more than $300 million of unrestricted cash on the balance sheet, subject to any redemptions by Caravel stockholders.