SAN FRANCISCO, July 28, 2021 /PRNewswire/ -- Nebula Caravel
Acquisition Corp. ("Caravel") (NASDAQ: NEBC) today announced that
its stockholders approved all proposals related to the previously
announced business combination (the "Business Combination") with A
Place for Rover, Inc. ("Rover") at a special meeting of
stockholders held today.
Net transaction proceeds of approximately $240 million are expected to be added to Rover's
balance sheet to continue investment in marketing, product, and
acceleration of international growth.
The closing of the Business Combination is anticipated to occur
on or about July 30, 2021, subject to
the satisfaction of customary closing conditions. Following
closing, the combined holding company will change its legal name to
Rover Group, Inc. and will continue to do business as Rover. Rover
Group, Inc.'s common stock and warrants are expected to commence
trading on Nasdaq under the ticker symbols "ROVR" and "ROVRW", in
August.
About Rover
Founded in 2011 and based in Seattle, Rover is the world's largest online
marketplace for pet care. Rover connects pet parents with pet
providers who offer overnight services, including boarding and
in-home pet sitting, as well as daytime services, including doggy
daycare, dog walking, drop-in visits, and grooming.
About True Wind Capital
True Wind Capital is a San
Francisco-based private equity firm focused on investing in
leading technology companies. True Wind has a broad investing
mandate, with deep industry expertise across software, data
analytics, tech-enabled services, internet, financial technology,
and hardware. Rover will be True Wind's 8th platform
investment.
About Nebula Caravel Acquisition Corp.
Nebula Caravel Acquisition Corp. ("Caravel") is a blank check
company sponsored by True Wind Capital, formed for the purpose of
partnering with a high-quality technology business. Caravel is led
by Adam H. Clammer and James H. Greene, Jr., who serve as Chief
Executive Officer and Chairman, respectively. Caravel's merger with
Rover follows Nebula Acquisition Corporation's successful merger
with Open Lending (NASDAQ: LPRO) in June
2020.
Important Information and Where to Find It
This press release relates to the proposed merger involving
Caravel and Rover. Caravel has filed a Registration Statement on
Form S-4 with the SEC, which includes a proxy statement and
prospectus of Caravel and an information statement of Rover, and
each party may file other documents with the SEC regarding the
proposed transaction. The documents filed by Caravel with the SEC
may be obtained free of charge at the SEC's website at www.sec.gov.
Alternatively, these documents, when available, can be obtained
free of charge from Caravel upon written request to Nebula Caravel
Acquisition Corp., Four Embarcadero Center, Suite 2100,
San Francisco, California
94111.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 including with respect to
the proposed business combination of Rover and Caravel.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this
communication. Such factors can be found in Caravel's most recent
filings with the SEC, which are available, free of charge, at the
SEC's website at http://www.sec.gov, and also in the registration
statement on Form S-4 and Caravel's definitive proxy
statement/prospectus relating to the Business Combination.
This press release is not intended to be all-inclusive or to
contain all the information that a person may desire in considering
an investment in Caravel and is not intended to form the basis of
an investment decision in Caravel. New risks and uncertainties
arise from time to time, and it is impossible for us to predict
these events or how they may affect us or the Business Combination
with Rover. You are cautioned not to place undue reliance upon any
forward-looking statements, which speak only as of the date made,
and Caravel and Rover undertake no obligation to update or revise
the forward-looking statements, whether as a result of new
information, changes in expectations, future events or
otherwise.
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SOURCE True Wind Capital