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, 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.
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.
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.
The Parent Company, Formerly Subversive Capital Acquisition Corp., has Completed its Qualifying Transaction and is Now the Largest Vertically Integrated Cannabis Operation in California
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.
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.
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.
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 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.
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.
SPACs have attracted recent attention because of Pine Island Acquisition Corp., a SPAC with close ties to the Biden administration.
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”)
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.
Vickers Vantage I, a blank check company formed by Singapore-based Vickers Venture Partners, raised $120 million by offering 12 million units at $10.
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.
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.
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 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.
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.