Ex-Commerzbank CEO’s SPAC Merges With Digital Firm Azerion (1)

The special-purpose acquisition company backed by Martin Blessing, a former chief executive officer of Commerzbank AG, will merge with Dutch digital entertainment company Azerion Holding BV.

The deal between Blessing’s SPAC, called EFIC1, values Azerion at about 1.3 billion euros ($1.5 billion), the two companies said in a statement Monday that confirms an earlier Bloomberg report. The company will rename as Azerion Group NV and start trading on the Amsterdam stock exchange in February.

“EFIC1 was formed with the intention of combining with a fast growing, profitable and tech-enabled European champion which could benefit from our team’s experience, expertise ...