Just as Chamath Palihapitiya was the face of the SPAC frenzy that gripped financial markets at the start of the year, he is today the face of the bust.
The flexible office giant WeWork is the latest real estate company to use a special purpose acquisition company to go public. The wave of real estate companies turning to SPACs is growing, such as with Cushman & Wakefield, RXR Realty, Simon Property Group, Tishman Speyer, Opendoor, and Matterport, among others.
It was another busy week for the SPAC market with numerous deal announcements and rumored deals. The market brought down the valuation of many SPACs late in the week.
This year has seen an incredible increase in interest surrounding special purpose acquisition companies (SPACs). In fact, many companies have come to the market via this path. These companies do not have operations, but instead exist to raise capital via an initial public offering (IPO) to fund the company they merge with.
Social Capital Hedosophia Holdings Corp. II today announced the pending transfer of the listing of its Class A ordinary shares, par value $0.0001 per share and redeemable warrants from the New York Stock Exchange to The Nasdaq Global Select Market related to its pending business combination with Opendoor Labs Inc.
Tishman Speyer has launched a $300 million blank check company that will invest in proptech firms, according to an S1 filed with the SEC Monday.
Opendoor’s new SPAC deal is just the next way tech disrupts traditional industries — and profits from it. This time, the target is real estate.
Japanese investment conglomerate SoftBank is getting in on the special purpose acquisition company, or SPAC, bandwagon, Axios reported Monday.
U.S. insurance startup Clover Health will go public through a merger with blank-check firm Social Capital Hedosophia Holdings Corp III IPOC.N in a deal valued at $3.7 billion including debt, the company said on Tuesday.
SPACs used to be a small segment of the market, but elite law firms have flocked to the sector in…