A group of 49 corporate law firms has now issued a joint statement decrying the lawsuits and trashing the plaintiffs’ arguments that SPACs are investment companies merely because the SPACs invest their IPO proceeds in trust accounts while seeking a merger partner.
Chamath Palihapitiya says that the investment tool lets ordinary people get rich off startups. It may be hype—but hype can be its own economic engine.
Who says the DVD is dead? Not DVD rental giant Redbox, which believes the discs not only have life to them, but also that they’d make a good investment.
Currently, there are 28 new SPACs hitting the market on a weekly basis, according to Seeking Alpha. There have been hundreds of them created in just the last few years, and a bevy of those have expressed at least some interest in health care, according to Mark Kulik, the managing director of M&A advisory firm The Braff Group.
Despite the pullback in growth stocks and special purpose acquisition company (SPAC) holdings, that shouldn’t kill the enthusiasm for Social Capital Hedosophia Holdings (NYSE:IPOE). IPOE stock is the holding company that should eventually turn into SoFi.
The great SPAC frenzy that began in July 2020 officially ended in March 2021. Over these nine months, there were 509 SPAC IPOs that raised an aggregate $167 billion, representing $18.6 billion per month on average.
A spinoff and overseas listing of its new division can help build credibility as a reliable partner.
Remote and hybrid work will be a permanent shift in the labor force. WeWork was surprisingly resilient in 2020 and managed to cut billions in excess costs.
There’s nothing wrong with the idea of a SPAC, but there is a limitation to how often the technique will work. It’s the same problem that Greensill ran into with its promise of revolutionizing corporate finance.
As with most financial market crazes, the fear of missing out motivates buying and selling en masse. The market’s current fantasy with special-purpose acquisition companies (SPACs), a financial instrument mired in a suspicious past, may just be another instance of this phenomenon.
Even the least sentimental of investors must be heartened by Grab’s journey from Kuala Lumpur garage to $40 billion sensation drawing global attention to Southeast Asia.
Private equity firms that sponsor blank-check companies raise the potential for conflicts of interest with their own funds, according to PitchBook.
Grab’s decision to opt for an SPAC listing rather than an IPO may seem strange to some, but it is a timely and strategic move, says Li Jianggan.
Dan Och’s blank check company Ajax (NYSE: AJAX) has been one of the hot SPACs (special purpose acquisition companies) to watch ever since the SPAC craze took off in 2020.
Following these ten steps will prepare SPAC boards, sponsors, and advisors for the likely shareholder suits and potential regulatory investigations that are increasingly becoming part of the SPAC landscape.
Special purpose acquisition companies (SPACs), otherwise known as blank-check firms, have been making waves in the insurance industry lately.
Of the plethora of special-purpose acquisition companies “so many people are cranking out” in “a land rush,” only “a handful are good,” Barry Ritholtz says.
The use of special purpose acquisition companies to take startups public has hit astronomical levels. Of the 302 IPOs so far this year, 80% are SPACs.
A spree of space startups — Rocket Lab, Spire Global, BlackSky, Momentus, Astra, and AST SpaceMobile — have recently announced plans to go public through Special Purpose Acquisition Companies (SPACs), a method of financing that has become very popular in recent months.
In this week’s installment of Industry Focus: Financials, Fool.com contributor and SPAC investor Matt Frankel interviews Scott Galit, CEO of Payoneer, a fintech disruptor that recently agreed to go public by way of a merger with FTAC Acquisition.