View, a smart window maker based in Silicon Valley, has reached an agreement to go public by merging with the blank-check firm CF Finance Acquisition Corp. II. The merger will hand a fresh $500 million in cash to View from its blank-check target, whereas the company will also seek up to $300 million from other private investors, summing up to $800 million.

The merger will see View become traded on the Nasdaq Stock Exchange following its completion.

View is a maker of smart windows for buildings, custom type of windows which let users control the amount of light that can be let in into buildings. The company was founded in 2007 by entrepreneurs Paul Nguyen and Mike Scobey and early on nabbed a $3.5 million grant from the US Department of Energy. 

Over the years, View has raised a whopping $1.8 billion in venture (debt and equity) funding from investors including BlackRock, Madrone Capital Partners, the SoftBank Vision Fund, and the glassmaking giant Corning. These investors are now in line for an exit on the public markets with View set to go public in the first quarter of next year.

View expects to be initially valued at $1.6 billion on the public markets upon completion of its merger, whereas that figure is notably less than the amount of venture funding that it’s raised as a private company. Then to add, View is seeking an additional $800 million in funding from its merger so it seems the company’s backers will be taking significant losses from their investment in the company.

The investment bank Goldman Sachs is acting as the exclusive financial advisor for View’s blank-check merger. 

Photo: View CEO Rao Mulpuri by Fortune Live Media is licensed under CC BY-ND 2.0

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