A Bolder Industries employee updates an economic impact board at a company facility in Missouri. Courtesy Bolder Industries.  

Bolder Industries could go public after proposed merger

BOULDER — Bolder Industries, a Boulder-based firm that converts recycled rubber tires into sustainable new compounds and chemicals, has entered into a letter of intent with special purpose acquisition firm GigCapital2 Inc. (NYSE: GIX) that would take BI public. 

A special purpose acquisition firm, also known as a SPAC or blank check firm, serves as a shell entity that uses proceeds from stock sales to purchase a private firm such as Bolder Industries. This process allows a firm to become publicly traded without going through a traditional initial public offering process. 

GigCapital CEO Avi Katz, entrepreneur and private equity investor, raised $200 million this year with the intention of acquiring technology firms, according to a May report from the Silicon Valley Business Journal.

Should GigCapital and BI merge, a deal that is currently being negotiated in the hopes of closing in early 2021, the combined entity will be valued at roughly $880 million. 

The firm’s stocks would be traded on the New York Stock Exchange. 

BI, a certified B Corp. registered with regulatory agencies as Waste to Energy Partners LLC, is headquartered in Boulder and has additional operations in Missouri and Florida.

The firm’s flagship product is BolderBlack, which is derived from used tires and scrap rubber and serves as a replacement for traditional carbon black, a compound used to strengthen rubber and colorize plastics.

“Bolder Industries was founded on our mission to divert materials from landfills, offset greenhouse gas emissions, reduce water and electricity usage and create local jobs,” Bolder Industries CEO Tony Wibbeler said in a U.S. Securities and Exchange Commission disclosure. “We have now met those goals at scale with our proven tire reuse solution that addresses  the growing global waste-tire issue at 40 billion pounds per year and the increasing demand for sustainably sourced materials. We have built an incredible foundation based on revolutionary technology, financial strength and a deeply knowledgeable team with significant operational and product development expertise.

Bolder Industries estimates that the firm will operate 15 plants and record as much as $530 million in annual revenue by 2026, the regulatory filing said.

Wibbeler and BI board chairman Robert Fenwick-Smith will continue to lead the company should the merger occur. Bolder Industries’ headquarters will remain in Boulder, according to a company representative.

“We are delighted to partner with Bolder Industries on its journey to the public market, as it represents the ultimate [environmental, social and governance] investment opportunity with a fully commercial and already proven technology that delivers 97% less CO2 than traditional carbon black, while significantly reducing the amount of rubber tire waste that enters our landfills,” Katz said in a statement. “Tony, Robert and the Bolder team have established a clear path to industry leadership and a de-risked investment platform. We are incredibly excited about Bolder’s purpose and mission, proven track record and global growth opportunity. We look forward to supporting its transition to a public company and beyond.”

BOULDER — Bolder Industries, a Boulder-based firm that converts recycled rubber tires into sustainable new compounds and chemicals, has entered into a letter of intent with special purpose acquisition firm GigCapital2 Inc. (NYSE: GIX) that would take BI public. 

A special purpose acquisition firm, also known as a SPAC or blank check firm, serves as a shell entity that uses proceeds from stock sales to purchase a private firm such as Bolder Industries. This process allows a firm to become publicly traded without going through a traditional initial public offering process. 

GigCapital CEO Avi Katz, entrepreneur and private equity investor, raised $200 million this year with the intention of acquiring technology firms, according to a May report from the Silicon Valley Business Journal.

Should GigCapital and BI merge, a deal that is currently being negotiated in the hopes of closing in early 2021, the combined entity will be valued at roughly $880 million. 

The firm’s stocks would be traded on the New York Stock Exchange. 

BI, a certified B Corp. registered with regulatory agencies as Waste to Energy Partners LLC, is headquartered in Boulder and has additional operations in Missouri and Florida.

The firm’s flagship product is BolderBlack, which is derived from used tires and scrap rubber and serves as a replacement for traditional carbon black, a compound used to strengthen rubber and colorize plastics.

“Bolder Industries was founded on our mission to divert materials from landfills, offset greenhouse gas emissions, reduce water and electricity usage and create local jobs,” Bolder Industries CEO Tony…