Bolt Threads completes SPAC, begins trading on Nasdaq

0
100

In California, biobased ingredients producer Bolt Threads has successfully closed its merger with special purpose acquisition company Golden Arrow Merger Corp and on August 14 began trading on the Nasdaq under the ticker BSLK.

A proprietary polypeptide in Bolt Threads’ b-silk replaces silicone elastomers in a range of beauty industry formulations. Silicone elastomers are synthetic and bio persistent polymers that are facing consumer and regulatory pressure. b-silk, which is inspired by the same proteins found in spider webs, is biobased and biodegradable.

According to Jacob W. Doft, Chairman of the Board at Golden Arrow, Bolt Threads’ biomaterials platform “offers a complete solution of sustainable alternatives from nature that can transform a multitude of high-volume consumer goods with biodegradable, non-toxic alternatives.”

The deal comes roughly a year after Bolt Thread’s CEO Dan Widmaier told Vogue Business the company had run out of funds and ceased operations.