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Nebula Caravel Acquisition Corp. (NEBC) Shareholders Approve Rover Deal
by Marlena Haddad on 2021-07-29 at 7:07am

Nebula Caravel Acquisition Corp.  (NASDAQ:NEBC) shareholders have approved its combination with dog-walking app Rover at a special meeting July 28.

The deal was overwhelmingly approved, but Nebula Caravel’s press release and 8-K filing did not reveal redemption figures. The materials noted, however, that the deal would bring $240 million in net proceeds to upon completion and Rover expected at the time of the deal announcement to add $250 million to its balance sheet through the transaction. This would appear to make it one of the smoother votes of the week as the down market has made the de-SPAC endgame difficult for many others.

Nebula Caravel expects to close the deal July 30, after which the combined company’s shares and warrants will commence trading on Nasdaq under the ticker symbols “ROVR” and “ROVRW” August 2.

The parties initially announced the $1.35 billion deal on February 11. Rover connects consumers with local pet-sitters, walkers and groomers via an online marketplace and has thus far facilitated services between 500,000 pet care providers and 2 million pet owners.

Nebula Caravel and Rover joined SPACInsider for a live Q&A webinar on March 31. All other proposals related to the business combination were approved by shareholders. For a full list of proposals and vote tallies, click HERE.


  • Morgan Stanley & Co. LLC is acting as exclusive financial advisor to Rover.
  • Wilson Sonsini Goodrich & Rosati is acting as legal 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 and Stifel Financial Corp., also acted as capital markets advisor and private placement agents to Nebula Caravel Acquisition Corp.
  • Simpson Thacher & Bartlett LLP is acting as legal advisor to Caravel.
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