GPU cloud start-up Boost Run LLC is planning to go public via a de-SPAC merger.

As reported by Silicon Angle, Boost Run will merge with the publicly traded Willow Lane Acquisition Corp., and list its shares on the Nasdaq exchange later this month.

A traditional SPAC merger sees investors create a special purpose acquisition company, or SPAC, raise money through an initial public offering, and then use it to acquire the startup. In those cases, the two companies then merge under the startup's name. Examples of companies that have recently used this method include AI chip startup Blaize, while Kyivstar and quantum computing firm Infleqtion are working on their own mergers currently.

De-SPAC listings, however, see private companies merging with an existing public shell company formed as a SPAC. Once approved, the private company becomes publicly traded via the already listed SPAC.

Boost Run is an AI cloud infrastructure provider, offering customers access to Nvidia GPUs via bare-metal infrastructure. The company claims that its offering is between 40 and 60 percent cheaper than that of major cloud providers.

The company was founded in 2023 by its CEO, Andrew Katos. Following the de-SPAC merger, the combined company is expected to be valued at around $614m and will receive around $112m from Willow Lane's trust account.

According to the company, cash retained from the transaction will be used for further GPU purchases and the expansion into new data centers. On Boost Run's website, the company lists colocation provider TierPoint among its partners. It has data center locations in Seattle, Washington; North Carolina; and Fort Worth, Texas.

This year, Boost Run is forecasting revenue growth of around 250 percent compared to the previous 12 months.

CEO Karos said of the company's plan: "We believe entering the public markets can provide us with both the capital and access to competitive financing we need to accelerate our strategy, expand our share in focus areas such as government and regulated industries, and productize our software and automation layer at scale."

"The team at Willow Lane has collaborated for over 12 years, acquiring and advising multiple companies, including Tecnoglass, one of the best-performing stocks coming out of De-SPAC over that period.  Our focus has always been to identify and work with high-integrity hands-on operators with a meaningful track record of value creation," said Luke Weil, CEO and chairman of Willow Lane. 

Willow Lane Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. Thus far, the company has closed five SPAC mergers.