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.
Accidents happen, they’re a reality of life. For most people, they involve a broken dish or a bounced check.
If you want to place a bet on who comes out on top in the next Disney (DIS) cartoon, bet on plucky little upstarts. The smaller, weaker outcasts defy the odds and win the day pretty much every day. That’s how it works in the movies. It’s not how it works in the world generally or in special purpose acquisition companies (SPACs). As I wrote in SPAC Size Matters, the best opportunities are in the biggest SPACs.
(Reuters) – QuantumScape, the 10-year-old Silicon Valley battery startup backed by Volkswagen AG (VOWG_p.DE), said on Thursday it plans to go public through a reverse merger with Kensington Capital Acquisition Corp KCAC.N with an enterprise value of $3.3 billion.