It will be one of several to hit Nasdaq in a historic year for SPACs. The really interesting way to invest in SPACs, which is not mentioned in the article, is to invest in SPACs during the pre-IPO stage, providing such investors with exposure to extraordinary potential gains but manageable risks. Tap on the company to see the details, SPAC leadership info etc. Electric truck manufacturer Lordstown Motors rallied as much as 19% in its Monday trading debut before paring some gains. Real estate mogul Barry Sternlicht announced his third special purpose acquisition company: Jaws Mustang Acquisition. At the proposed deal size, dMY Technology Group III would command a market value of $313 million. This offering is expected to close on Friday, October 2. 6 Things to Know About the Semiconductor Play Ahead of Any ACE Deal. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Boeing-Backed Aerion is in talks to go public through a merger with Altitude Acquisition Corp. And then there are other competitors in the electric vehicle space, like Nikola, which announced a potential deal with GM and was also the focus of allegations of fraud from short-seller Hundburg Research. Sternlicht joined “Squawk Box” on Thursday to discuss. Altimar Acquisition Corporation, the SPAC, set up by HPS Investment Partners, said in a regulatory filing it was in exclusive talks with the companies but there was no guarantee a deal would be agreed. It is also 20% higher than the previous record IPO year of 2000, which had 397. The companies raised $200 million in private investment in public equity, or PIPE, and hold about $320 million in cash proceeds. Defiance ETFs LLC is not responsible for the accuracy or completeness of any third-party information. New You can click & drag column headers to reorder. Microvast, a maker of electric batteries, is in advanced talks to go public through a merger with the blank-check company Tuscan Holdings Corp., according to people with knowledge of the matter. Leadership: Bin Wang (Director Eon Capital (Hong Kong, acquisition of China Railway, Sino-Gas, China New Media), Other Key People: Harry Edelson (Director Airwire, PogoTec, eChinaCash, Pathway Genomics), 4 SPAC Stocks With Recent Mergers With Private Companies, Target Notes: FREYR, a Developer of Clean, Next-Generation Battery Cells. In 2020, SPACs make up most of the growth in the U.S. IPO market compared with the year-ago level.So far this year, SPACs have raised $79.87 billion in gross proceeds from 237 counts, surpassing the record $13.6 billion raised in 2019 (raised from 59 IPOs). Skillz Inc., the mobile esports company, started trading on the New York Stock Exchange under the symbol SKLZ following its merger with Flying Eagle Acquisition, a Los Angeles-based entity comprised of the same people who took the fantasy sports company DraftKings (Nasdaq: DKNG) public through a SPAC. Marquee Raine Acquisition, a blank check company formed by The Raine Group and the Chicago Cubs’ owner targeting the TMT industry, raised $325 million by offering 32.5 million units at $10. Spacs provide investors with a new and often quicker way to take businesses public. Currently, the company has online gaming partnerships with Scientific Games and Microgaming. SoftBank Group filed to launch a special purpose acquisition company on Monday, saying it planned to raise $525 million for an investment in a technology company.The Japanese investment giant is the latest big name to jump on the wave of so-called SPAC. The talks are ongoing but could still fall apart. It would join a parade of electric vehicle makers and infrastructure companies getting their businesses funded by eager investors. (Investor Presentation). It also provides less risk than a traditional IPO. The Company Chairman, Mr. Benjamin Ballout , Stated That ” We are planning to establish a SPAC to Acquire Quality Strategic Investments in Companies useful to our future plans and expansion”. Paya Holdings Inc. is known for its base in integrated payments and for its processing concentration in card-not-present transactions. Institutional investors would reportedly make a private investment of $250 million in Finance of America as it goes public. MoneyLion, a mobile banking, lending and investment platform, is in talks to go public through a merger with Fusion Acquisition Corp. SPAC.Fusion, the special purpose acquisition company, has begun discussions to raise new equity from potential investors for a transaction that’s set to value the combined entity at more than $2 billion. The deal could see Fenway receiving close to $1.5 billion in return for a stake of between 20% and 25%, according to Axios. At the time of writing, the RedBall Acquisition Corp. trades at $10.06. Former Kirkland & Ellis chair Jeffrey Hammes, is joining the SPAC parade. Litigation finance veteran Adam Gerchen says the legal tech-focused special purpose acquisition company he launched with former Kirkland & Ellis chairman Jeffrey Hammes, which started trading on the New York Stock Exchange in mid-November, has identified two dozen “high-prospect” acquisition targets. FG New America priced a $225 million IPO to seek financial services companies. Online casino business is not a no-go anymore for SPAC acquisitions, Rush Street is just another example. Within a new SEC filing, the data provider reported a 32% year-on-year revenue increase for the nine months to September 30, 2020. The merger is being consummated as part of Atlanta.-Ga.based Paya’s plans to take the company public. As more fast-growing companies eschew traditional initial public offerings (IPOs) because of pandemic-induced market volatility, SPAC IPOs are quickly becoming their alternative of choice and are even drawing attention outside the US. VCs said that the scandal (the resignation of Nikola Corp. (NASDAQ: NKLA) Executive Chairman and founder Trevor Milton on Monday), showing few signs of abating, is unlikely to have a negative impact on private capital flowing into venture-backed clean technology startups. Hammes is working with Adam Gerchen, the co-founder and former CEO of litigation funder Gerchen Keller, to raise $200 million for a SPAC that aims to acquire a legal tech business. The special purpose acquisition company (SPAC) was founded by former high-level gaming industry executives and a venture capitalist, Bradley Tusk. SoftBank Group Corp. plans to file Monday to raise at least $500 million through a blank-check company, a person familiar with the situation said, tapping investor enthusiasm for the controversial listing vehicles. FirstMark Horizon is a $414 million SPAC from Rick Heitzmann, who was involved in StubHub, DraftKings and Riot Games. Ishrak is targeting to raise about $750 million to $1 billion for the special purpose acquisition company, or SPAC. The former head of Goldman Sachs Group Inc.’s Asia-Pacific unit outside Japan raised $360 million for a SPAC targeting health-care deals in the region, adding to the wave of former bankers joining the investing craze. The company had previously filed to offer 20 million units at the same price. Over the past four decades the former U.S. Air Force captain has made a fortune buying, selling and splitting public companies to lucrative effect. Special purpose acquisition companies (SPACs) are resurging as a virtually hassle-free alternative to initial public offerings (IPOs). XL Fleet is estimating revenue to hit $21 million in 2020 and $75 million in 2021. List of Shell Companies or Special Purpose Acquisition Companies ('SPACs') There are currently 279 U.S. shell companies in our database. Tuscan, a special purpose acquisition company, or SPAC, is seeking to raise about $200 million in new equity to fund the transaction. The company’s chief executive Carsten Breitfeld told Reuters that the company is working on a reverse merger with a SPAC and “will be able to announce something hopefully quite soon.”. Richard Byworth, the CEO of Diginex said that theirs was the first company listed on the Nasdaq exchange that covers the complete virtual currency ecosystem. After evaluating over 50 companies to meet these criteria for success, KBL Merger Corp. IV (NASDAQ: KBLM) entered into a definitive merger agreement with 180 Life Sciences Corp. (180 Profile), which is expected to close within one month. The Las Vegas, NV-based company plans to raise $250 million by offering 25 million units at a price of $10. Triller has so far secured around $100 million in that round at a $1.25 billion (959.91 million pounds) valuation, according to the sources. The units are expected to begin trading on 15 July under the symbol Nasdaq: MLACU. He also sits on the board of Facebook Inc (NASDAQ: FB). Faraday Future, the electric vehicle startup with a messy and complicated past, is planning to go public through a special purchase acquisition company (SPAC) deal. Triller’s SPAC negotiations are happening alongside discussions with investors about a private fundraising round, led by investment bank UBS Group AG UBSG.S, in which the Los Angeles-based company is seeking to raise around $250 million, the sources said. Paysafe Group Inc., the London-based online payment firm backed by the world’s largest alternative asset investment fund Blackstone having had $571 billion worth of assets under its management to date alongside CVC Capital Partners, had been in an advanced stage merger talk with a blank-check SPAC founded by an old-school investor Bill Foley, a Bloomberg news report published late on Friday had unveiled. Oaktree is in talks with investors to raise about $75 million to help fund the transaction, the people said. Both companies will merge in a business combination to create a new entity whose Class A common stock will list on the New York Stock Exchange under the symbol “FSR.” Through the reverse merger, Fisker has gained access to $1 billion in cash inflows. And the acquired company doesn’t need to find investors. But what also became clear early Monday is its growing strength in bringing capability for automated clearing house payments to its roster of clients. Reinvent Technology Partners Z, the second blank check company formed by Reinvent Capital targeting the tech sector, filed on Monday with the SEC to raise up to $200 million in an initial public offering. At the proposed deal size, Benessere Capital Acquisition will command a market value of $128 million. Listing a SPAC has been the go-to method for wealthy Americans to raise money for takeovers this year. The merger values PureCycle Technologies with an enterprise value of $1.2 billion. Bridgetown Holdings Ltd., the blank-check company backed by billionaires Richard Li and Peter Thiel, is considering a potential merger with Indonesia’s e-commerce giant PT Tokopedia. Technology SPAC dMY Technology Group II prices upsized $240 million IPO at $10. The New York, NY-based company now plans to raise $100 million by offering 10 million units at $10. KL Acquisition, a SPAC formed by Kennedy Lewis targeting the healthcare industry, filed on Thursday with the SEC to raise up to $250 million in an initial public offering. Dyal Capital is in talks to merge with Owl Rock Capital and go public via a SPAC vehicle in a complex deal that will value the two asset managers at a combined $13bn. Peter Thiel, co-founder of PayPal Holdings, Inc. (NASDAQ: PYP) and Palantir Technologies is involved in a new special purpose acquisition company (SPAC).Thiel is known for his ties to the Trump administration, which is rare for Silicon Valley investors. It would be a very canny move for John W. Henry II, the billionaire who is Fenway’s biggest shareholder. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. What is a SPAC then? Lightning eMotors, a company that electrifies commercial-vehicle fleets, has agreed to go public through a merger with GigCapital3 Inc., a SPAC. Electric vehicle maker Lucid Motors Inc. is in talks to go public through a merger with one of Michael Klein’s special purpose acquisition companies. Carney Technology Acquisition Corp. II announced the pricing of its $350 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “CTAQU” tomorrow, Thursday, December 10. We are welcoming SPAC Spring Valley Acquisition, targeting the sustainability industry, including energy and power, resource management, and environmental services. PrivateEquityFirm RedBird Capital Partners sponsored a SPAC that intends to invest in a European football club. Aaron Halimi, founder of Renewable Properties, said, “We plan to expand our efforts in the Northeast, in our home state of California, and continue to incorporate energy storage solutions into our projects.” The firm expects to start construction on 50 MW of solar capacity with 30 MW of that capacity achieving commercial operation by the end of this year. Former Walt Disney Co executivesKevin Mayer and Thomas Staggs plan to raise $300 million in aninitial public offering for a new special purpose acquisitioncompany or SPAC. Li-Cycle Corp, a recycler of lithium-ion batteries, is nearing a deal to go public through a merger with SPAC Peridot Acquisition Corp at a valuation of about $1.7 billion, according to people familiar with the matter. 2MX Organic aims to acquire companies involved in the fast-growing sectors of organic food and sustainable consumer goods. Veteran technology investors Jeff Epstein, operating partner at Bessemer Venture Partners, and Brad Koenig, co-CEO at Apex, formed the SPAC last year. A SPAC backed by former Boeing chief executive officer Dennis Muilenburg is aiming to raise about $200 million in an initial public offering (IPO), a regulatory filing showed on Monday.New Vista Acquisition Corp., a special purpose acquisition company (SPAC), said it would sell 20 million units, comprising shares and warrants, priced at $10 apiece in the IPO. Pending the deal’s closure, it will trade on the Nasdaq under the ticker “BLDE.”. The startling public-market debut for DoorDash is having ripples among other stocks in the food-delivery and gig-economy companies. Paysafe’s merger with Foley Trasimene Acquisition Corp II will result in the London-based company listing on the New York Stock Exchange under the symbol “PSFE”. Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50. Blackstone and CVC have agreed to list Paysafe at a $9bn valuation via a merger with a blank-check company launched by billionaire Bill Foley. Other Key People: Dr. DraftKings CEO Jason Robins is on the board of the firm, which is looking at technology acquisitions. Talkspace, an online therapy app promoted by celebrities including swimmer Michael Phelps and singer Demi Lovato, is nearing a deal to go public through a merger with Hudson Executive Investment Corp. SPAC.The special purpose acquisition company is discussing raising more than $200 million in new equity to support a merger with New York-based Talkspace. The companies are discussing a deal that would value the combined firm at up to $3 billion. Why Shares of FirstMark Horizon Acquisition Corp. Have Been So Volatile Rumors are flying that the SPAC might have picked the tech company it want to take public. One of the newest names on the Nasdaq composite is Lordstown Motors (NASDAQ:RIDE). The combined entity will be valued at $1.9 billion including debt, and will list on the NYSE after close of the deal. It’s a move that will return the venerable men’s media property to public markets, and could result in future acquisitions of gaming companies. The management team of the SPAC will then seek out an acquisition. Serial SPAC dealmaker Chamath Palihapitiya has doubled down on SPACs and has now participated in at least half a dozen deals that his own SPAC vehicles aren’t even involved in. [02/16/2021] New AHAC is in-talks with Humacyte, human tissue developer. Leadership: Behrooz Abdi (CEO of InvenSense, CEO and President of network processor company RMI, SVP at Qualcomm). These are also commonly referred to as a special purpose acquisition company or SPAC. Other Key People: Daniel Barcelo (Founder Alussa Energy, director Moore Capital, Lehman Brothers, head of oil in Russia, Nigeria), Freyr SPAC Merger: 14 Things for ALUS Stock Investors to Know About the Clean Battery Play, Target Notes: The largest U.S. biltong producer Stryve Foods, which has helped introduce air dried meat snacks to American consumers as a healthy alternative to regular jerky, Leadership: J. Torres (Notable prior mergers: Lazydays, Tecnoglass), Underwriters: Cowen and Company, Craig-Hallum Capital Group, Target Notes: Solera  a global leader in data and software for automotive, home ownership and digital identity management, Leadership: Apollo management team (active since 2010), Other Key People: Sanjev Patel (bunch of investment history, but no notable big success), Underwriters: Citigroup Global Markets, Credit Suisse Securities (USA), Goldman Sachs & Co, Apollo Global Securities, Deutsche Bank Securities, Siebert Williams Shank, Target Notes: AvePoint is "the largest data management solutions provider for the Microsoft cloud. Canadian electric truck and bus manufacturer The Lion Electric Company said Monday it plans to become a publicly traded company via a merger with special purpose acquisition company Northern Genesis Acquisition Corp. That number, though, doesn’t tell the whole story. One is the novel coronavirus pandemic. Holding company Fertitta Entertainment, which includes Golden Nugget casinos and Landry’s restaurants, will be floated through a reverse-merger with a special purpose acquisition company. Leadership: Daniel R. Revers ( Managing Director in the Corporate Finance Group at John Hancock Financial Service), Underwriters: Citigroup Global Markets, Barclays Capital, ArcLight SPACâs Merger With Proterra Is Still Undervalued, Why Investors Should Pass on ArcLight for Now, Top SPAC Merger News This Week: Bakkt, Lucid Motors, Proterra and 16 More Hot SPACs, ACTC Stock: 15 Things to Know About ArcLight and the Proterra SPAC Merger, Leadership: Brad Gerstner (CEO Altimeter, experience with online search business acquisitions,exits, board iHeartMedia), Other Key People: Aishetu Fatima Dozie (CEO Bossy Cosmetics), Underwriters: Citigroup Global Markets, Goldman Sachs & Co, Morgan Stanley & Co, Other Key People: Anita Lynch (VP of data at Disney). German electric air taxi developer Lilium is reportedly pursuing additional funding from public markets through a reverse merger with a special purpose acquisition company, or SPAC, numerous sources with knowledge of ongoing discussions tell eVTOL.com. As of today’s listing, 8i Enterprises Acquisition Corporation is now known by the name of Diginex. PureCycle Technologies will go public via a merger with Roth CH Acquisition I. The “blank check” company, called Decarbonization Plus Acquisition, raised $200 million on Monday as part of its initial public offering. SPACs are having a record year in 2020, with more than $38 million raised by SPACs to date, according to SPAC Insider, and big companies like DraftKings and Nikola Corp. choosing to go public by merging with a SPAC. Target Notes: SolarMax is an integrated solar energy company. German tech investment company Rocket Internet plans to list a special purpose acquisition company (SPAC) in New York to tap into investor interest in new offerings.Rocket, led by tech entrepreneur Oliver Samwer, is preparing to list SPAC shares worth $200 million to $300 million in a deal organised by investment bank Citi. If no deal emerges, or a deal fails, you will likely receive $10 back. The SPAC originally filed to offer 52.5 million units, and downsized its offering by about 5%. There has been a rush of SPACs in recent months, outpacing traditional IPOs in money raised in July and August, according to Refinitiv. Instead of taking six to nine months like a traditional IPO, a SPAC IPO can be accomplished in weeks. Sunlight Financial LLC, which provides loans to homeowners for rooftop solar panels, has agreed to go public through a merger with a special purpose acquisition company backed by Apollo Global Management Inc.The deal with SPAC Spartan Acquisition Corp. II gives Sunlight an implied equity value of about $1.3 billion. Transfix, a logistics startup that operates a freight marketplace, is in talks to go public through a merger with a blank-check firm, Tuscan Holdings Corp. II, according to a person with knowledge of the matter.
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