Michael Neidell Represents Investor in PIPE Financing for Blackstone Products SPAC Merger

Firm News

The Wall Street Journal reported that Blackstone Products, the market leader in outdoor griddles, has entered into a business combination agreement with special purpose acquisition company Ackrell SPAC Partners I Co. pursuant to which Blackstone will become a public company.  Olshan partner Michael Neidell is representing Continental General Insurance Company in connection with its investment in a $142 million convertible note and equity PIPE financing for Blackstone in connection with this business combination.  The transaction, which is subject to Ackrell shareholder approval and other customary conditions, is expected to close in the second quarter of 2022.

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