Banking app Dave announced Monday that the company will make its market debut through a SPAC merger with VPC Impact Acquisition Holdings III.
The SPAC market has cooled considerably in recent weeks, with companies that went public by merging with a blank-check entity trading well off their highs, and a growing number of regulatory hurdles emerging for an investment strategy that often dominated financial news headlines in 2020.
Private equity firms that sponsor blank-check companies raise the potential for conflicts of interest with their own funds, according to PitchBook.
On March 25, 2021, a shareholder of MultiPlan Corp. f/k/a Churchill Capital Corp III (“New Company”) filed a class action complaint alleging various breach of fiduciary duty claims stemming from a special purpose acquisition company, or “SPAC,” business combination transaction against the New Company, its board of directors (“Board”), and other related parties.
As the blank-check boom rages on, growth-stage companies are increasingly bombarded by SPAC sponsors vying to take them public.
Newly formed bitcoin mining operation Cipher Mining Technologies announced it will go public in a merger with blank-check company Good Works Acquisition. The deal values the combined entity at $2 billion.
After weeks of spiking share prices for a blank-check company rumored to be targeting the acquisition of electric-vehicle company Lucid Motors, the two parties officially announced a deal Monday afternoon, and the stock sank sharply.
Archer Aviation, the electric aircraft startup targeting the urban air mobility market, has landed United Airlines as a customer and an investor in its bid to become a publicly traded company via a merger with a special purpose acquisition company.
SPACs, shorthand for special purpose acquisition companies, have become this year’s most popular alternative option for private companies to access the public capital markets and become publicly traded.
In this MB Microtalk, we discuss private investment in public equity (PIPE) transactions consummated by special purpose acquisition companies (SPACs).
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 used to be a small segment of the market, but elite law firms have flocked to the sector in…
Webinar Will Bring Together Experienced Leaders in the SPAC Asset Class to Discuss Current Market Trends NEWPORT BEACH, Calif., Sept.…