Shutterfly May Go Public Through SPAC Merger

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Shutterfly Inc. is in talks to go public through a merger with a blank checking company, according to people familiar with the matter, less than two years after Apollo Global Management Inc. APO, -1.69% took the online photo book maker. private. The company is discussing a deal with a special-purpose acquisition company called Altimar Acquisition Corp. II ATMR.UT, -1.28% that would value it between $ 4 billion and $ 5 billion, including debt, the people said. The details of the potential transaction could not be known.

Any agreement could take weeks, some of the people said, and there is no guarantee that the parties will reach an agreement. If they do, it would add Shutterfly to the long list of companies participating in a recent deal explosion involving SPAC, raising money in a public offering with plans to later find one or more companies to merge with. The Altimar vehicle went public in February, raising $ 345 million for a deal, which typically would likely include additional privately raised funds. A previous vehicle, Altimar Acquisition Corp., agreed last year to combine two investment firms and go public in a $ 12.5 billion deal that was one of the largest blank check transactions at the time. An expanded version of this report appears on Also popular on OSHA’s job is workplace safety. In the COVID-19 pandemic, he often ran into trouble. The COVID-19 baby bust is here.