<div>
  <ul>
    <li>
      <p>
        Bolt Threads, a sustainable biomaterials company, has entered a definitive agreement to merge with Golden Arrow Merger Corp in a special purpose acquisition company (SPAC) deal that values Bolt Threads at USD 250 million.
      </p>
    </li>
    <li>
      <p>
        Post-acquisition, the entity will have a combined valuation of USD 346.1 million. The deal, expected to bring in at least USD 35 million in gross proceeds, has received unanimous approval from both companies' boards of directors. It is subject to shareholder approval and standard closing conditions, with the closing targeted for Q1 2024.
      </p>
    </li>
    <li>
      <p>
        Upon completion of the deal, the merged entity will be known as Bolt Projects Holdings, Inc. and is anticipated to trade on the Nasdaq with a fresh ticker BSLK.
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake:</b>
         In June this year, Bolt Threads announced that it 
        <a href="https://sp-edge.com/updates/19867">
          halted the production
        </a>
         of its mycelium-based leather alternative, Mylo, due to a lack of funding and inflationary pressures. However, it appears to have been successful in finalizing the deal to take the SPAC route to become a publicly traded company and raising the necessary capital to continue production and materialize its commercialization 
        <a href="https://sp-edge.com/updates/19867">
          plans
        </a>
        .
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://finance.yahoo.com/news/bolt-threads-become-public-company-120000528.html">
      Yahoo Finance
    </a>
  </p>
  <p>
    <a href="https://www.forbes.com/sites/amyfeldman/2023/10/04/biomaterials-firm-bolt-threads-formerly-a-unicorn-plans-spac-deal-at-a-250-million-valuation/?sh=22fdff9541c4">
      Forbes
    </a>
  </p>
</div>


Bio-based Materials

ANALYST_QUICK_TAKE

DISRUPTOR_PRESENT

Sustainable biomaterials company Bolt Threads has agreed to merge with Golden Arrow Merger Corp in a special purpose acquisition company (SPAC) deal. The deal values Bolt Threads at $250 million and will result in a combined valuation of $346.1 million. The merger is expected to bring in at least $35 million in gross proceeds. The deal has received unanimous approval from both companies' boards of directors and is subject to shareholder approval and standard closing conditions. The merger is expected to be completed in Q1 2024, and the merged entity will be known as Bolt Projects Holdings, Inc. and trade on the Nasdaq. Analyst QuickTake: In June this year, Bolt Threads announced that it halted the production of its mycelium-based leather alternative, Mylo, due to a lack of funding and inflationary pressures. However, it appears to have been successful in finalizing the deal to take the SPAC route to become a publicly traded company and raising the necessary capital to continue production and materialize its commercialization plans .

Bolt Threads to go public via SPAC deal

All Updates

Bolt Threads to go public via SPAC deal

Bolt Threads to halt production of mycelium-based material Mylo

Stella McCartney to launch its mycelium-based bags in July 2022

Bolt Threads partners with Mycelium Materials Europe to produce Mylo at a commercial scale

Bolt Threads launches Mylo-based yoga bags for Lululemon

Bolt Threads partners with Lululemon to create yoga accessories from mushroom leather

Stella McCartney launches swimwear from recycled fishing nets