Investing in a special-purpose acquisition company, or SPAC, that hasn’t yet identified which business it plans to take public might seem highly speculative. And in some ways, it is.
CIIC stock has faded a bit, but a broader pullback in EV SPACs means it could have further to fall
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.
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.
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.
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.
SPACs also known as blank check vehicles, have raised a record $82.1 billion in 2020 as of Dec. 24 — a sixfold increase from last year’s record high, according to data from Dealogic. Throughout the year, these companies have been busy in the cannabis, green technology, and sports-betting arenas, scooping up corporations like DraftKings and Nikola.
The new year is expected to be a mergers and acquisitions bonanza as deal makers attempt to put the pandemic behind them, meaning attorneys must be on top of trends like the continued use of special purpose acquisition companies and an anticipated increase in distressed M&A.
Following an explosive finish for the initial public offerings market in 2020, capital markets lawyers are expecting that momentum to carry into the new year independent of the pandemic and changes in the presidential administration.
SPACs were one of the hottest investment stories of 2020 and look to continue that momentum into 2021. Here are 10 SPACs and former SPACs that could outperform for investors in 2021.
Special purpose acquisition companies are promising 100% and 200% profits in mere days. Who wouldn’t want a piece of that action?
Just five years after being recruited for an executive post at General Motors Co., Barry Engle in November 2019 ascended to president of the automaker’s $100 billion North American business, the company’s profit center.
Social Capital Hedosophia Holdings Corp. IV (NYSE:IPOD) is the fourth of a series of SPACs that Chamath is listing. IPOD is publicly traded today, and is trading at a 10% premium to NAV.
These special purpose acquisition companies are merging with manufacturers that are driving the future of the automotive industry.
t might be hard in the midst of roaring markets and headlines trumpeting Dow 30,000 to remember that one of 2020’s highest high-flyers has been the special purpose acquisition corporation, or SPAC.
Silver Spike Acquisition Corp. has a liquidation deadline on February 12, 2021 and may announce a deal at any time between now and then.
The key focus will be whether the company will merge with a cannabis or non-cannabis target.
Pershing Square Holdings is a closed-end fund trading in London and Amsterdam.
It trades at a 28.5% discount to net asset value, which is a lot in a relative and absolute sense.
The fund has exposure to sponsorship warrants in the largest SPAC in history that are likely undervalued on its book.
In a recent installment of the Capital Markets Series, I joined Jon Campagna, CFO of Virgin Galactic, and other experienced advisors and professionals from KPMG and BofA to discuss how private companies can unlock capital-raising opportunities offered by “blank check” investors, also known as SPACs.
SPACs — special purpose acquisition corporations — have come a long way from being regarded as the “skunk at the garden party” to a welcome investment vehicle.
This year has been a record year for Biotech initial public offerings (IPOs), with total deal value already up by 58% compared with all of 2019.