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Prison Phone Company Securus Is Said to Be in SPAC Merger Talks

Oct. 30, 2021, 3:01 PM

Tom Gores’s Platinum Equity is exploring strategic options for one of its most controversial investments, prison phone operator Securus Technologies Inc., and is in talks to take it public through a merger with a blank-check company, according to people with knowledge of the matter.

Atlantic Avenue Acquisition Corp., formed by middle-market lender MC Credit Partners, has approached Platinum about a potential deal to merge with Securus, said the people, who asked not to be identified because the discussions are private.

The discussions are in the early stages and Platinum could still consider a sale to another ...