BBQGuys to go public via a merger with &vest-backed Velocity Acquisition in an $839m deal.

BBQGuys, a specialty e-commerce platform for higher-end BBQ grills, agreed to go public via a merger with &vest-backed Velocity Acquisition, a SPAC, in an $839m deal. Upon the closing of the transaction, existing BBQGuys shareholders, including BVP, are expected to own 71% of the combined company, the Velocity sponsors are expected to own 5% of the combined company, and public stockholders are expected to own 24% of the combined company. "With our highly capital efficient structure and defensible platform informed by more than 20 years of proprietary customer data, we expect our growth to accelerate as we continue to build the BBQGuys brand among consumers and professionals. We are excited to team up with Velocity and continue partnering with BVP," Russ Wheeler BBQGuys CEO.