After more than a decade of buildup, special purpose acquisition companies (SPACs) have exploded and are gaining momentum in the US and beyond.
The worst seems to be behind SoftBank Group Corp. Its stock price has surpassed its dot-com peak, thanks in part to aggressive share buybacks and the successful initial public offerings of its unicorns, such as food delivery startup DoorDash Inc.
Imagine your favorite sports team being forced to hand over its playbook to a bitter rival. That would irk any sports fan.
Special Purpose Acquisition Company (SPAC) IPOs have generated a lot of buzz recently, and for good reason: 242 SPACs were launched in 2020 alone.
Robotics company Berkshire Grey is the latest private company going public through a deal with a special purpose acquisition company (SPAC). It agreed to a transaction with Revolution Acceleration Acquisition Corp (NASDAQ: RAAC) to infuse it with cash and accelerate its expansion.
Raising special purpose acquisition companies is en vogue in the COVID-19 economy. From venture capitalist Chamath Palihapitiya to footballer-turned-activist Colin Kaepernick to former House Speaker Paul Ryan, it seems like everyone is taking part in this new variant of initial public offerings.
A weekly review on the latest SPACs from The SPAC Investor.
Special Purpose Acquisition Companies (SPACs) are essentially blank check companies with the backing of sophisticated institutional investors. SPACs raise money through an IPO solely to acquire another company.
PlayStudios CEO Andrew Pascal was well into the process last fall of taking the Las Vegas-based social gaming provider public through a merger with a special purpose acquisition company (SPAC).
On January 27 and 28, 2021, over 300 participants joined Morrison & Foerster’s webinars on “SPAC 101- Is 2021 the Year of SPACs in Asia?” where Partners Mitchell S. Presser, Justin R. Salon, and Ruomu Li led an in-depth discussion on the growing significance of SPACs and their relevance to the Asian market.
Shares of Aspirational Consumer Lifestyle (NYSE:ASPL) climbed 10% at the open Monday after the special purpose acquisition company (SPAC) announced a deal to merge with private aviation company Wheels Up.
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.