Schmid Agrees to $640 Million Deal to Go Public Via Pegasus SPAC

Schmid Group, a German provider of advanced electronics manufacturing techniques, will go public in New York through a deal with automotive veteran Ralf Speth’s blank-check company.

The merger with Pegasus Digital Mobility Acquisition Corp. will give family-owned Schmid a valuation of $640 million including debt, according to a statement on Wednesday that confirmed an earlier Bloomberg News report.

Schmid, which started as an iron foundry in 1864, is based in Freudenstadt, a town in the heart of the Black Forest known for its fresh air and lush trails. It has developed equipment and manufacturing processes for printed circuit ...