Clover Pens $157m SPAC Merger

Dating and streaming app company Clover Inc. has announced that it will merge with blank-check company FoxWayne Enterprises and become a public company.

The companies will become Clover Media Inc. in the first quarter of 2023 and will continue to be listed on the Nasdaq Capital Market, according to a statement. Clover’s app allows users to stream video to followers and set up video dates.

Clover CEO Isaac Raichyk said the transaction will help the new company to offer new products and faster development to the service’s over nine million users. Raichyk and Clover’s current management team will lead Clover Media Inc.

“We see immense opportunities in Clover’s approach to delivering both dating subscriptions and the live-streaming dating and subscription models for creators of live content,” FoxWayne CEO Robb Knie said.