On “SPACs Attack,” the latest SPAC mergers, rumors and headline news is broken down Monday through Friday.
A Bet On Rising Rates Drives Ackman’s First Quarter Gains
Bill Ackman’s flagship hedge fund ended the first quarter with a gain of 7.2 percent, after adding 0.60percent during March.
SPACs and Covid spark M&A frenzy not seen since the dotcom boom
Deals worth $1.3tn were struck in the first quarter of 2021 in a year-to-date record driven by a number of mega deals and the surge in SPACs.
Vice Media is in ‘advanced talks’ to merge with ex-Morgan Stanley exec Jack Leeney’s SPAC, report says
Vice.com’s parent company, Vice Media, is in “advanced talks” to merge with ex-Morgan Stanley exec Jack Leeney’s SPAC. 7GC & Co. Holdings, according to a report from The Information.
Exclusive: Latch CEO Talks SPAC Deal, Growth Prospects And More
Latch is an enterprise SaaS provider to buildings and residents with the aim of making spaces better places to live, work and visit.
SEC Statement: Financial Reporting and Auditing Considerations of Companies Merging with SPACs
In recent years, we have seen significant market developments and innovation in our capital markets, with a variety of structures being utilized to raise capital and facilitate taking private companies public.
E-commerce and logistics SPAC Ocelot Acquisition I lowers deal size by 20% ahead of $200 million IPO
Ocelot Acquisition I, a blank check company backed by Ocelot Capital focused on e-commerce, transportation, and logistics, lowered the proposed deal size for its upcoming IPO on Wednesday.
SPAC Boom Hits $1.3 Billion For Q1
Global mergers and acquisitions (M&A) have seen their strongest developments in four decades in the first quarter of this year as special purpose acquisition companies (SPACs) keep doing well, the Financial Times (FT) reported.
Wall Street frenzy over shell companies draws attention of SEC
The shell companies that many private firms use to go public on the country’s stock exchanges have been all the rage on Wall Street for more than a year.
Real Estate’s SPAC Wave Continues
The flexible office giant WeWork is the latest real estate company to use a special purpose acquisition company to go public. The wave of real estate companies turning to SPACs is growing, such as with Cushman & Wakefield, RXR Realty, Simon Property Group, Tishman Speyer, Opendoor, and Matterport, among others.
Lilium announces intention to list on Nasdaq through a merger with Qell Acquisition Corp., and reveals development of its 7-Seater electric vertical take-off and landing jet
Lilium positioned to be the global leader in regional electric air mobility, with the development of its electric vertical take-off and landing jet, has entered into a definitive business combination agreement with Qell Acquisition Corp.
Online payments company Paysafe going public in SPAC merger Tuesday, Bill Foley says
London-based online payments company Paysafe is set to begin trading on U.S. public markets after merging with blank-check company Foley Trasimene Acquisition II Corp, billionaire business and sports executive Bill Foley told CNBC Monday.
SomaLogic to go public via SPAC in deal that values it as a unicorn
SomaLogic Inc. is beginning a merger with a special purpose acquisition company that would add up to $651 million in new funding to the company’s books, and make it Colorado’s latest unicorn.
Okada Manila Reviewing Several SPAC Offers, Says Universal Entertainment
Universal Entertainment Group is looking to bring its Okada Manila gaming business to a US equity exchange via merger with a special purpose acquisition company (SPAC). Not surprisingly, demand for that deal is strong among blank-check firms.
UK’s Cazoo will list on the NYSE by way of a SPAC, valuing it at $7B and raising $1.6B
Cazoo, the UK used-car sales portal that has been on a major fundraising tear in the last year, will be next company to pursue more growth by way of a SPAC: the company today announced that it will list on the NYSE by way of a business combination with AJAX I, a special purpose acquisition vehicle founded by hedge fund supremo Dan Och in partnership with Glenn Fuhrman and others.
Equinox Could Go Public In $9B SPAC Deal
Equinox — the high-end gym chain, which also owns SoulCycle — could follow so many others and go public through a SPAC.
2021’s Continued SPAC Boom Invites Heightened SEC Scrutiny of SPAC Transactions
The ongoing surge in blank check acquisition transactions has invited heightened scrutiny from the Securities and Exchange Commission (SEC), which recently asked several underwriters to disclose information related to their recent SPAC dealings.
Axios, The Athletic Discuss Merger, Eyeing SPAC Deal: Report
Two digital media publishers are in talks to merge and explore going public via SPAC in a consolidation move in a fragmented market.
WeWork to Become Publicly Traded Via SPAC Merger with BowX Acquisition Corp
BUSINESS WIRE)–WeWork, the leading flexible space provider, and BowX Acquisition Corp. to merge.
Endeavor Aims to Capitalize on Frothy Equities Markets With IPO or SPAC Deal
Endeavor, the parent company of WME, dropped its bid to go public in September 2019. At the time, the company said it would continue to assess market conditions as it looked for a better opportunity. That time has come, according to Wall Street watchers.