Singapore TV Licensing Startup Allrites to Merge With Aura SPAC

Allrites Holdings Pte, a Singaporean film and television content rights marketplace, has agreed to go public through a merger with US-listed blank check firm Aura FAT Projects Acquisition Corp.

The transaction will give Allrites an enterprise value of $92 million on a pro forma basis, according to a statement seen by Bloomberg News. The deal also includes a potential $18 million in earnout over two years, subject to the company achieving certain revenue targets. The agreement allows Aura Fat Projects to seek a private investment in public equity, or PIPE, before closing the transaction.

Allrites, founded by Australian former ...