Blue Nile to go public via a SPAC merger with Mudrick Capital Acquisition II in a $873m deal.

Blue Nile, an online retailer of diamonds, diamond engagement rings, and fine jewelry, agreed to go public via a SPAC merger with Mudrick Capital Acquisition II, a special purpose acquisition vehicle, in a $873m deal. The transaction includes a PIPE investment from Mudrick Capital, Bain Capital Private Equity, Bow Street and Adama Partners. “We are pleased that the Mudrick team will invest in Blue Nile and help accelerate the Company’s next phase of e-commerce leadership in the fine jewelry category. We believe Blue Nile has a significant opportunity for future market expansion as a real innovator in a large category that offers the right mix of compelling jewelry coupled with an unmatched selection of GIA graded diamonds at unbeatable values,” David Humphrey, Blue Nile Chairman.