Bill Ackman’s flagship hedge fund ended the first quarter with a gain of 7.2 percent, after adding 0.60percent during March.
Bill Ackman and Chamath Palihapitiya’s hot SPACs see shaky trading
High-profile special purpose acquisition companies like Pershing Square Tontine Holdings (NYSE:PSTH) and Social Capital Hedosophia Holdings V (NYSE:IPOE) faced pressure in Friday’s session as investors grew wary of SPACs, although the sector later partly rebounded and PSTH even went positive.
Bill Ackman’s Pershing Square SPAC Is a Unique Vehicle for Investors
Pershing Square Tontine Holdings Ltd (NYSE:PSTH) has bucked the trend of most SPACs (Special Purpose Acquisition Corp.), both in terms of the type of deal it’s looking to make and its size.
Equity Commonwealth: A Grave-Dancing SPAC In Disguise
Equity Commonwealth (NYSE: EQC) is a cash box trading for ~90 cents on the dollar. With ~$3 billion in cash, $25 million in debt, four office properties, and grave dancer Sam Zell at the helm
SPACs Sparkled In 2020, But What Lies Ahead For Them?
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.
Pershing Square Holdings Very Attractive At 28.5% Discount To Understated NAV
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.
UPDATE 1-Palihapitiya-backed blank-check firms raise $2.1 bln through IPOs
Three blank-check companies backed by venture investor Chamath Palihapitiya have raised a total of $2.1 billion through initial public offerings, the companies said in separate statements on Thursday.
Shark Tank investor Kevin O’Leary breaks down his strategy for picking SPACs – and explains why he’d bet on Bill Ackman and 3 other leaders
Shark Tank investor Kevin O’Leary shared his SPAC-picking strategy during CNBC’s Halftime Report on Tuesday.
SPACs Have Raised More in 2020 Than the Last 10 Years Combined
Blank-check companies are having a record-breaking year, raising about $41 billion so far, according to data compiled by Bloomberg.
Alec Gores strikes again with biggest SPAC merger to date
The SPAC boom just became a little bigger. Gores Holdings IV, a special-purpose acquisition company that raised $425 million at the start of the year, has agreed to combine with United Wholesale Mortgage in a reverse merger that will value the mortgage origination provider at roughly $16.1 billion, marking the largest SPAC merger on record, the company said.
Egregious Founder Shares. Free Money for Hedge Funds. A Cluster***k of Competing Interests. Welcome to the Great 2020 SPAC Boom.
It’s a brilliant, blue-sky afternoon in mid-August, and Bill Ackman is enjoying being, well, Bill Ackman.
Maybe it’s the sun. Or maybe it’s the aftermath of his latest tour de force — the IPO of a $4 billion special-purpose acquisition company, or SPAC, the largest of its kind during a year when such blank-check deals are exploding.
Big Law Firms Scramble to Cash in on Blank-Check Bonanza
New York lawyer Douglas Ellenoff’s firm was the go-to adviser for “blank-check” initial public offerings long before the niche market exploded into the most fashionable way to go public.
Law firms could make hundreds of millions of dollars on the SPAC boom, as elite firms elbow in on a growing market
SPACs used to be a small segment of the market, but elite law firms have flocked to the sector in…
Billionaire Richard Branson to raise $400 million for new SPAC as it looks to expand its Virgin empire
Billionaire Richard Branson, who is founder of the Virgin Group has joined the “blank-check” frenzy and is looking to raise $400 million to fund a possible takeover.
5 things you need to know about…SPACS
SPACs (special purpose acquisition or “blank cheque” companies) have recently regained prominence in the US, with H1 2020 seeing record-breaking levels of activity, both in terms of value (Bill Ackman’s $4bn Pershing Square Tontine is the largest SPAC IPO to date, eclipsing previous records) and volume (SPACs accounted for around 30% of all US IPOs in H1 2020). One of the reasons for the revived interest is that experienced founder teams can benefit from a dislocated market to find good opportunities that yield attractive returns.
Why Airbnb Is Saying ‘Thanks, But No Thanks’ To Bill Ackman’s SPAC
Short-term rental giant Airbnb has said “thanks, but no thanks” — at least for now — to a proposal to go public by merging with billionaire Bill Ackman’s special purpose acquisition company (SPAC).
SPACs To Play ‘Huge Role’ Going Forward: Key Takeaways From This Week’s BZ Cannabis Hour
In 2020, most of the investments that were made in the cannabis space came from SPACs, or special purpose acquisition companies, Benzinga’s Javier Hasse said on this week’s BZ Cannabis Hour.
SPACs Are The Hot Investment Trend For 2020, Should You Participate?
One pronounced trend for 2020 is the growth of funds flowing to Special Purpose Acquisition Companies (SPACs), sometimes called blank-check…
DraftKings CEO sounds alarm on SPAC market: ‘Hopefully the market settles down a little bit there’
The SPAC market may be getting frothy.
Just like in entertainment, when network executives copycat a hit show format until the market is saturated, investors are flooding the market with special purpose acquisition companies, or SPACs, to scout private companies to take them public.
Bancorp Founder To Go Public With New SPAC
Betsy Cohen, who founded and formerly operated The Bancorp, is planning to take a $750 million shell company public this…