With the boom in special purpose acquisition companies, privately held companies are getting the upper hand with sellers, sponsors are giving up equity, and deals are closing at record rates, according to an analysis of 2020 data on SPACs by law firm Freshfields.
SPACs 101 FAQ: A Primer on Today’s Hottest Exit Strategy
SPACs, shorthand for special purpose acquisition companies, have become this year’s most popular alternative option for private companies to access the public capital markets and become publicly traded.
Why Clover Health Chose a SPAC, Not an IPO, to Go Public
When going public is a company’s ultimate goal, the method of doing so isn’t the most important factor. Consider Clover Health Investments, which provides Medicare Advantage health plans to 57,000 members.
Affinity Gaming’s SPAC Gaming & Hospitality Acquisition files for a $150 million IPO
Gaming & Hospitality Acquisition, a blank check company formed by Affinity Gaming targeting the gaming and hospitality sectors, filed on Friday with the SEC to raise up to $150 million in an initial public offering.
Subversive Capital Acquisition Corp. Closes The Largest Cannabis SPAC In History
The Parent Company, Formerly Subversive Capital Acquisition Corp., has Completed its Qualifying Transaction and is Now the Largest Vertically Integrated Cannabis Operation in California
Colonnade: Under The Radar Lidar SPAC
While other lidar stocks have zoomed higher following SPAC deals, Colonnade Acquisition (CLA) still trades around $13. Back on December 22, the SPAC agreed to a business combination with lidar sensor developer Ouster which will trade under “OUST” on the NYSE.
Steve Jurvetson and Maryanna Saenko on their new fund, SPACs and the great tech exodus
Future Ventures — cofounded by venture capitalist Steve Jurvetson and Maryanna Saenko, a colleague of Jurvetson at his last firm, DFJ, as well as an investor previously with Airbus Ventures and Khosla Ventures — has closed its second fund with $200 million in capital commitments, say the pair.
These blank-check firms are courting proptech deals
It’s a good time to be a startup aspiring to go public. Investors plowed more than $83 billion into blank-check companies last year — and 11 days into 2021, they’ve invested $7.2 billion more.
EV-Tech Company Proterra to Go Public Through ArcLight SPAC
Proterra Inc., which makes electric buses and batteries, agreed to go public through a merger with special purpose acquisition company ArcLight Clean Transition Corp.
EVBox to Present at 23rd Annual ICR Conference
EVBox Group, a leading global provider of smart charging solutions for electric vehicles (“EV”), today announced that the Company will participate at the 23rd Annual ICR Conference. Kristof Vereenooghe, President and CEO, will present on Wednesday, January 13, 2021.
SoFi, A Leading Next-Generation Financial Services Platform, to Become Publicly-traded via Merger with Social Capital Hedosophia
Social Finance, Inc. (“the Company” or “SoFi”), a leading next-generation financial services platform, has entered into a definitive agreement with Social Capital Hedosophia Holdings Corp. V (“SCH”) (NYSE: IPOE), a publicly traded special purpose acquisition company, to bring a major consumer-focused financial technology business to the public markets.
Speculative “Blank Check” Companies Surround Tony Blinken, Biden Administration
SPACs have attracted recent attention because of Pine Island Acquisition Corp., a SPAC with close ties to the Biden administration.
Intercontinental Exchange Announces Bakkt to Become a Publicly Traded Company via Merger with VPC Impact Acquisition Holdings
Intercontinental Exchange, Inc. (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listings services, announced that Bakkt Holdings, LLC (“Bakkt”)
Podcast: Cowen’s Co-President on Why SPACs Are Having a Moment
One of the surprising developments in the last year was the boom in SPACs. The so-called blank check companies raised more money in 2020 than they had in the several years prior combined.
Singapore VC’s SPAC Vickers Vantage I prices upsized $120 million US IPO
Vickers Vantage I, a blank check company formed by Singapore-based Vickers Venture Partners, raised $120 million by offering 12 million units at $10.
SPAC attack: Southeast Asian unicorns ditch conventional IPOs
A frenzy of SPAC mergers took place in 2020. In the coming year, blank check companies may give Southeast Asian tech companies a route to new investors.
Jon Ledecky and Joanna Coles Seek $300 Million For New Commerce SPAC
Fresh off of securing a deal for their first special purpose acquisition company, New York Islanders owner Jon Ledecky and media entrepreneur Joanna Coles have teamed up for a sequel, a $300 million blank check firm named North Star Acquisition II.
My Top SPAC Play for 2021
It is that time of year when we try to predict what stocks will perform the best in the 12 months ahead. While this isn’t my preferred way to approach the market (and others agree with me), it is helpful to identify stocks with strong potential to put on your watch list and aggressively trade as technical conditions develop.
Billionaire Ken Moelis Suggests Sports Betting as Target in New SPAC
Billionaire banker Ken Moelis’ new special purpose acquisition company may target sports betting or media, among a wide swath of potential areas the blank check firm mentions in its prospectus filed with the SEC today.
Brad Feld-backed SPAC debuts on the New York Stock Exchange
Crucible Acquisition Corp. (NYSE: CRU.U), a special-purpose acquisition company based in Boulder with backing from Foundry Group executives, has begun trading on the New York Stock Exchange as it awaits a buyer.