CHELMSFORD, Mass.—Flame retardants maker FRX Polymers Inc. is going public through a reverse takeover of a special purpose acquisition company (SPAC).
"This is a SPAC-type deal," CEO Marc Lebel said in a May 20 phone interview with Plastics News. "We can go public either through an IPO or through a shell company, but using a shell company reduces a lot of the risk in going public."
Chelmsford, Mass.-based FRX is merging with Good2GoRTO Corp. in the deal. Good2GoRTO is a capital pool company based in Toronto. FRX will be listed on the Toronto Stock Exchange on May 24.
Lebel said FRX—which operates a production site in Antwerp, Belgium—wanted to go public because the firm "is on the cusp of substantial growth as a company."