ICR Inc. is handling media for Blue Nile, an online retailer of conflict-free diamonds, as it goes public via a deal with Mudrick Capital Acquisition Corp. special acquisition company.
Launched in 1999, Blue Nile ships to 44 countries and boasts of a selection of more than 650K natural diamonds and an expansive fine jewelry collection that is priced at 25 to 50 percent less than brick-and-mortar retailers.
CEO Sean Kell says Blue Nile is well-positioned for growth. “We have only scratched the surface of an estimated $320B global fine jewelry market that has been slow to move online and remains fragmented,” he said.
The SPAC deal puts the pro forma implied value of the combined company at $873M.
The transaction received PIPE support from Bain Capital Private Equity, Adama Partners and Bow Street.
ICR has Caitlin Churchill working the investment community and Judy Lee handling media for Blue Nile, which will trade on the NASDAQ.
Kekst CNC advised Mudrick. Todd Fogarty led the team.