Grove IPO or SPAC? Here's how to buy the sustainable company's stock

3 min read | December 09, 2021 04:30 AM EST | By Raza Naqvi

Grove IPO or SPAC? Here's how to buy the sustainable company's stock — Image source: © Rawpixelimages | Megapixl.com

Grove SPAC merger: Key details

Notably, the deal could value the combined entity at around US$ 1.5 billion.

In addition, Grove Collaborative will likely receive US$ 435 million in gross proceeds, and it could help the company to expand its business operations and transform the consumer products industry to work towards a better environment.

How to buy Grove stock?

Grove Collaborative will trade on the New York Stock Exchange (NYSE). According to the official statement, the company will likely trade under the stock symbol GROV.

Also Read: Mobileye IPO: How to buy the Intel-owned self-driving company's stock?

Once the company gets listed in the stock market, investors will be able to get hold of the GROV stock like they buy regular shares through applications or websites of brokerage companies.

Notably, Grove's shareholders will roll their equity holdings into the combined entity.

Bottom line

Over the years, Grove has emerged as one of the leading companies making sustainable consumer products. The company gets more than 1.5 million active customers through its direct platform, and millions of its products are sold through retail stores.

Grove expects revenue of US$ 385 million in 2021 and a gross margin of 50 per cent. In addition, the company expects to increase its revenue to US$ 600 million and break-even by 2024.

The company is the world's first plastic neutral retailer, and it aims to become a 100 per cent plastic-free company by 2025.

As the awareness around environment and sustainability increases, Grove Collaborative could attract more customers in the future and expand its presence globally.

Also Read: VinFast IPO: Can you buy the Vietnamese electric car maker's stock?

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Incorporated (Kalkine Media), Business Number: 720744275BC0001 and is available for personal and non-commercial use only. The advice given by Kalkine Media through its Content is general information only and it does not take into account the user’s personal investment objectives, financial situation and specific needs. Users should make their own enquiries about any investment and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media is not registered as an investment adviser in Canada under either the provincial or territorial Securities Acts. Some of the Content on this website may be sponsored/non-sponsored, as applicable, however, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used in the Content unless stated otherwise. The images/music that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.