It was a slow week for the SPAC market, with three deal announcements and only a couple rumored deals. There also were no new SPAC offerings during the week — unusual for a market segment that has been so hot over the last year. Benzinga’s “SPACs Attack” covered the deals and news of the week.
President Joe Biden said on Tuesday the United States must ramp up production of electric vehicles to catch up with and then surpass China after he virtually toured an electric bus and battery manufacturing plant on Tuesday.
Going public through a special purpose acquisition company is officially mainstream. Special purpose acquisition companies, once looked down upon by Wall Street-types as a less respectable way to go public, have been forming and going public at an unprecedented pace this year.
Proterra Inc., which makes electric buses and batteries, agreed to go public through a merger with special purpose acquisition company ArcLight Clean Transition Corp.