SPAC Newbury Street Acquisition Corporation (NASDAQ:NBSTMore) is reportedly in the final stages of talks to integrate with Metaverse Experience developer Infinite Reality, which has acquired Universal Security Instruments (Uuu).
Newbury and Infinite Reality could announce Sign a contract as early as next week. Representatives for both companies declined to comment. According to a Bloomberg reportquoted people close to the problem.
Newbury Street will go public in March 2021, Raised approximately $120 million.
Infinite Reality is backed by notable investors including rock band Imagine Dragons, DJ/music producer Steve Aoki, NFL player Landon Collins, and NBA player Rudy Gobert. The company announced a multi-year partnership with Warner Bros. Discovery in October (WBDMore) to develop immersive content for sports fans.
In July, Infinite Reality acquired esports company ReKTGlobal for $470 million in equity. the transaction is The combined company is about $2.5 billion.
the infinite reality Planned merger Universal Security Instruments (Uuu), Infinite Reality owns approximately 97% of the combined company. In March, Infinite Reality announced it had secured Standby his equity purchase deal with Yorkville Global Partners in equity financing of up to $200 million. Completion of Merger.
A Universal Security Instruments 10-Q report filed with the SEC in November stated: The merger was still in progress.