Nebula Caravel Acquisition Corp. (NEBC) Completes Business Combination with Rover

July 30, 2021 8:23 AM EDT
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A Place for Rover, Inc. ("Rover"), the world's largest network of five-star pet sitters and dog walkers, and Nebula Caravel Acquisition Corp. (NASDAQ: NEBC) ("Caravel"), a special purpose acquisition company sponsored by True Wind Capital Management, L.P. ("True Wind Capital"), announced today that they have closed their previously announced business combination agreement. The business combination was approved by Caravel's stockholders at a meeting held on July 28, 2021.

Nebula Caravel Acquisition Corp. Completes Business Combination with Rover

Upon completion of the business combination, Caravel changed its name to Rover Group, Inc., and its common stock and warrants are expected to begin trading on the Nasdaq Stock Exchange under the ticker symbols "ROVR" and "ROVRW", respectively, commencing August 2, 2021.

Co-founder and CEO Aaron Easterly will continue to lead Rover's highly experienced management team. Adam Clammer, CEO of Caravel and founding partner of True Wind Capital, will serve on Rover's board of directors.

Advisors

Morgan Stanley & Co. LLC acted as exclusive financial advisor to Rover. J.P. Morgan Securities LLC also acted as capital markets advisor to Rover. Deutsche Bank Securities acted as lead financial advisor, capital markets advisor and private placement agent to Nebula Caravel Acquisition Corp. William Blair & Co., LLC, Stifel Financial Corp., JMP Securities LLC, and Canaccord Genuity LLC also acted as capital markets advisors and private placement agents to Nebula Caravel Acquisition Corp. Wilson Sonsini Goodrich & Rosati acted as legal advisor to Rover. Simpson Thacher & Bartlett LLP acted as legal advisor to Caravel.



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