RTTNews | Dec 23, 2021 07:38AM EST

07:38 Thursday, December 23, 2021 (RTTNews.com) - Blackstone Products, and Ackrell SPAC Partners I Co. (ACKIU), a publicly-traded special purpose acquisition company, have entered into a business combination agreement that will result in Blackstone becoming a public company. The combined company will be renamed Blackstone Products, Inc. and expects to apply to be listed on the Nasdaq under the ticker symbol, BLKS. The combination implies a pro forma enterprise valuation for Blackstone of $900 million.

The combined company is anticipated to be led by Roger Dahle, Founder and Chief Executive Officer of Blackstone. The transaction will provide approximately $95 million in estimated gross proceeds to Blackstone Products, assuming no redemption by Ackrell shareholders.

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