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Liberty Media Corp. owns a majority of SiriusXM and about a third of Live Nation. The publicly traded shares of the SPAC then become the shares of the formerly private company. However, most recently there has been an unexpected surge in Special Purpose Acquisition Companies (SPACs) mergers and acquisitions (M&As) as a way of entering the public market during the Covid-19 pandemic compared with traditional IPOs. This SPAC comes as Tesla has a record year, filled with various positive headlines, and a stock split and the stock itself is up 744% in the past year. Gemini Therapeutics is now trading on the Nasdaq Exchange following its merger with FS Development Corp., a special purpose acquisition company (SPAC) sponsored by Foresite Capital. The Seattle, WA-based company plans to raise $100 million by offering 10 million units at a price of $10. Leadership: Daniel R. Revers ( Managing Director in the Corporate Finance Group at John Hancock Financial Service), Underwriters: Citigroup Global Markets, Barclays Capital, ArcLight SPAC’s 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). [02/18/2021] New CAPA is merging with Quantum-Si, chip designer focusing on protein sequencing platform. SPACs tend to do deals with a total value of several times their trust. There were 480 IPOs on the US stock market in 2020, an all-time record. Leadership: Behrooz Abdi (CEO of InvenSense, CEO and President of network processor company RMI, SVP at Qualcomm). McAfee provides integrated security solutions against cyberattacks to consumers, enterprises, and governments. It also provides less risk than a traditional IPO. Thoma Bravo launched its $900 million special purpose acquisition company (SPAC) that will target an acquisition in the software and technology sectors. FG New America priced a $225 million IPO to seek financial services companies. But why is that? Malacca Straits Acquisition Company Limited (MLACU), announced the pricing of their $125 million SPAC IPO on 14 July 2020. 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. Electric truck manufacturer Lordstown Motors rallied as much as 19% in its Monday trading debut before paring some gains. It would join a parade of electric vehicle makers and infrastructure companies getting their businesses funded by eager investors. SoftBank Vision Fund invested in such companies as Uber, DoorDash, Slack, WeWork, and TikTok owner ByteDance. On Friday, the biotech company priced 16.1 million shares at $18 and offered underwriters options for an additional 2.1 million, but on the first day of trading, shares rocketed to a high of $58.69. Quebec-based Lion Electric Co. will use $500 million from a special-purpose acquisition corporation (SPAC) based in Kansas City to fund construction of electric vehicle production plants in the U.S. Makram Azar, formerly a senior Barclays Plc banker, is setting up a SPAC company with dealmaker Scott Freidheim to pursue deals in the telecommunication, media and technology sectors. Each unit now consists of one share of common stock and one warrant, exercisable at $11.50. Intel Corp. Chairman Omar Ishrak is planning to raise funds for a SPAC firm targeting deals in the health technology sector. Space transportation company Momentus is in final talks to go public through an acquisition by Stable Road Capital, a person familiar with the discussions told CNBC on Tuesday. Instead of one team, however, the SPAC could end up with two world-class franchises — if it can raise more cash for the mega-deal. Tishman Speyer, one of the largest commercial real estate landlords in the United States with a 78 million square feet portfolio, recently created a $300 million special purpose acquisition company (SPAC) to invest in property technology (Proptech). Collective Growth is seeking to raise $100 million to $350 million in new equity to support a transaction that’s set to value the combined entity at $1 billion or more. XL Fleet, an electrification solutions provider for Class 2-6 vehicles, is going public via a merger with SPAC Pivotal Investment Corporation II. Special purpose acquisition companies (SPACs) are resurging as a virtually hassle-free alternative to initial public offerings (IPOs). At the proposed deal size, the SPAC would command a market value of $129 million. CIIG, a special purpose acquisition company, is in discussions with investors about raising $400 million to $500 million in new equity to support a transaction for the startup. Arnault’s investment holding company Financière Agache is joining forces with French asset manager Tikehau Capital and two high-profile European bankers to launch a special purpose acquisition company (SPAC) that will hunt for deals in Europe’s financial services sector. Gores Holdings IV Inc., a blank-check company sponsored by an affiliate of The Gores Group LLC, will take United Wholesale Mortgage LLC public in a business combination that values the mortgage lender at approximately $16.1 billion. Approximately $493 million in net proceeds will advance ChargePoint, Inc.’s commercial, fleet, and residential businesses. Nikola (NASDAQ:NKLA) went public earlier and is now part-owned by GM. The New York, NY-based company plans to raise $115 million by offering 11.5 million units at $10. These companies that have yet to make a profit could market their future financial prowess in a SPAC listing — something that’s not allowed in an IPO. A special purpose acquisition company (SPAC) is an alternative to the traditional initial public offering (IPO) process that public companies use to raise capital and having its stock traded publicly on a major stock exchange. [02/12/2021] Site Info For SPACs with no target and mostly near-NAV prices, take a look at pre-target SPACs page. 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 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.”. How SPAC Mergers Work: SPACs are shell companies that raise capital in an initial public offering (IPO) in order to acquire an existing company and take it public, thereby helping the existing company circumvent the regulations involved in the IPO process. The new special-purpose acquisition company is seeking to “identify and acquire a privately held company with significant growth potential” for a merger or acquisition, according to a regulatory filing. The new company aims to combine with a technology business that is currently on a path valuing high growth over profitability. Investindustrial Acquisition Corp., a private equity firm backed by UBS Group AG’s former Chief Executive Officer Sergio Ermotti, announced last week that it was raising $350 million by listing a SPAC on the New York Stock Exchange. So far it has three successful deals under its belt, including acquisitions of Stewardship Technology in 2018, First Billing Services in 2019, and The Payment Group this September. The Chicago, IL-based company now plans to raise $150 million by offering 15 million units at a price of $10. Online casino and sportsbetting company Rush Street Interactive announced on Monday that it is merging with the SPAC dMY Technology Group in order to become a publicly listed company. It also plans to enter into additional forward purchase agreements with TPG and other third party entities for $100 million. Importantly, that carries risk too, as recent investors in electric car company Nikola can attest given recent fraud allegations. The company is profitable and plans to offer a 1.7% yield at the midpoint. Peter Thiel-backed Luminar Technologies Inc. briefly touched an all-time high within days of emerging as a standalone company as investor excitement over developers of laser-sensors that enable autonomous driving (lidar) ramped up. The formal sponsor is expected to be SoftBank Investment Advisors, which manages the $100 billion Vision Fund and Vision Fund 2 (unknown size, funded entirely from SoftBank’s balance sheet). Source: SPAC WIRE LLC d/b/a SPAC RESEARCH. FirstMark Horizon Acquisition Corp. (NYSE: FMAC) shares fell 11.4% to $12.80 in pre-market trading. It stands for Special Purpose Acquisition Company. In Europe, the SPAC phenomenon has yet to fully arrive, but the launch of Franklin’s vehicle may signal that more could follow. Eliminating that scourge will take more than reducing, reusing, and recycling. 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. Fresh off a huge win with the DoorDash initial public offeringDoorDash IPO Spurs Uber, Lyft and Grubhub. Investors are paying attention to ChargePoint, Inc. One of the world’s first and largest electric vehicle (EV) charging networks, it has revealed that it will go public by merging with Switchback Energy Acquisition Corp. While it has the flexibility to pursue a target in any industry, the SPAC said at the time it intended to focus on companies based in the U.S. worth $500 million to $2 billion. 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. Live Oak Acquisition II, the second SPAC formed by Live Oak Merchant Partners targeting a high-growth business, filed on Wednesday with the SEC to raise up to $200 million in an initial public offering. Payoneer, a New York City-based fintech start-up that specializes in facilitating cross-border payments, is set to go public by merging with a SPAC led by Bancorp founder Betsy Cohen, the companies announced Wednesday.The merger with Cohen’s SPAC, FTAC Olympus Acquisition Corp., values Payoneer at $3.3 billion. Ride the Trend of Bioplastics With This Upcoming SPAC Merger.Hundreds of billions of pounds of plastic ends up in the world’s landfills and oceans every year, and most of it will stay there for thousands and thousands of years. Leadership: Kenneth Moelis (CEO Moelis, $6 billion asset mgmt), ACIC Stock: 13 Things to Know About Atlas Crest and the Archer SPAC Merger, Leadership: Mark Gerhard (CEO Jagex Game Studios (Runescape)), Other Key People: Mickie Rosen (Director Pandora Media (P), president TPCO), Underwriters: UBS Securities, Odeon Capital Group. Aequi Acquisition, a blank check company targeting data-centric, growth-oriented companies with established business models, lowered the proposed deal size for its upcoming IPO on Monday. FirstMark Horizon is a $414 million SPAC from Rick Heitzmann, who was involved in StubHub, DraftKings and Riot Games. Electric-vehicle maker Lion Electric Co said on Monday it would go public through a merger with blank-check company Northern Genesis Acquisition Corp. Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50. SoftBank Is the Biggest Winner. The companies are discussing a deal that would value the combined firm at up to $3 billion. Gross 2020 SPAC proceeds stood at $62.7 billion as of November 8, compared with $13.6 billion in all of 2019. Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50. These are also commonly referred to as a special purpose acquisition company or SPAC. OpenDoor Labs Inc. shares rose nearly 6% in their debut on the public markets Monday after it merged with Social Capital Hedosophia II, a Palo Alto-based special purpose acquisition company (SPAC). Is investing in electrical vehicle companies a craze?The analysis actually confirms that just having a business plan and some cool ideas might not justify a SPAC’s acquisition of an e-vehicle company. DPCM Capital Inc is in a view to selling 25 million units of its company at $10 each and has applied to list its shares on the New York Stock Exchange under the symbol “XPOA.U.” Nowadays, so many companies are filing for SPAC for public offerings like the electric vehicle company Nikola for their firm’s development. The goal is to raise funds to finance a merger or acquisition typically within two years. Companies have raised $66bn through listings on NYSE this year compared with $61bn on Nasdaq, according to Dealogic, with nearly two-thirds of the proceeds raised on NYSE coming from Spacs. That excludes dozens of SPACs with smaller trusts. The Chicago, IL-based company plans to raise $900 million by offering 90 million units at $10. For companies seeking a path to public markets, a reverse-merger with a SPAC has increasingly become an enticing alternative relative to the traditional route of conducting an IPO. Meanwhile, U.S. VC investment in mobility tech—a category that includes EV, ride-hailing and light detection and ranging companies—has totalled US$10.5 billion across 150 deals so far this year, according to Morningstar PitchBook data. Leadership: James Musselman (Founder of Caelus Energy, Kosmos energy (NYSE:OIL), Triton (sold to NYSE:HES for 3.2 billion in 2001). (Reuters) – Financial software group ION is sponsoring a $500 million listing of a special purpose acquisition vehicle (SPAC) to invest in financial technology and services, filings with the U.S. securities regulator showed. Spacs provide investors with a new and often quicker way to take businesses public. Virtuoso Acquisition, a SPAC formed by Connoisseur Media targeting a media business, filed on Tuesday with the SEC to raise up to $180 million in an initial public offering. 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”. The deal includes $400 million in proceeds, which includes a $125 million infusion along with the cash in the SPAC. The units are expected to begin trading on 15 July under the symbol Nasdaq: MLACU. The transaction between Limassol, Cyprus-based Nexters and Tavrin’s Kismet Acquisition One Corp. is valued at $1.9 billion, according to a statement Monday. The stock, which trades with the ticker RIDE, changed hands 7.8% higher at $19.63 as of 3:10 p.m. ET.The company is the latest vehicle startup to enter the public market through a reverse merger with a SPAC. Turmeric Acquisition, a special purpose acquisition company formed by Boston-based MPM Capital, announced on Monday that it’s looking for a $100 million raise. Air-taxi startup Archer Aviation has announced plans to go public through a SPAC merger with Atlas Crest Investment Corp., following a similar deal by rival Wheels Up and reports that Joby Aviation is also in talks with blank-check companies. The company has raised at least $1.5 billion in funding from investors including General Atlantic, Norwest Venture Partners and the Softbank Vision Fund. El Segundo telehealth provider Cloudbreak Health has agreed to be acquired by a Palo Alto special purpose acquisition company, or SPAC, and will join a family of digital health companies run by Delray Beach, Fla.-based UpHealth Holdings Inc. early next year, the companies announced Nov. 23. AST will list on the Nasdaq under the ticker symbol ASTS when the deal closes. The San Francisco, CA-based company plans to raise $175 million by offering 17.5 million units at $10. Sports betting data provider Genius Sports said today it will merge with special purpose acquisition company (SPAC) dMY Technology Group, Inc. II (NYSE:DMYD). The auto industry is partnering with investment banks to reap the big money benefits of a new acronym: SPAC. With every passing week, more venture firms are beginning to announce SPACs, or special purpose acquisition companies formed to raise capital through an IPO in order to acquire and thus take public other companies. It also backed Opendoor, which recently agreed to be acquired by a SPAC. 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. Aeva Inc., a Silicon Valley firm developing a lidar sensor for self-driving cars to perceive their surroundings, said Monday it has agreed to go public through a merger with spac InterPrivate Acquisition Corp.The merger with InterPrivate, which values Aeva at more than $2.1 billion, will give it a cash injection of more than $300 million to develop sensors for phones, tablets and other consumer devices. Reproduction is prohibited without express permission. Real estate mogul Barry Sternlicht announced his third special purpose acquisition company: Jaws Mustang Acquisition. The SPAC will focus on acquiring a business in the technology, media and telecommunications industries. 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. Each unit consists of one share of common stock and a whole warrant to purchase one-half of a common share, exercisable at $11.50. At the proposed deal size, Omnichannel Acquisition will command a market value of $438 million. Genius Sports Group expects to generate full-year revenue for 2020 of $145m after filing the necessary documents to complete its business combination with SPAC dMY Technology II. Thomas Healy, who was 28 when his Texas-based truck electrification startup Hyliion Inc. went public this month, also accomplished the feat. The deal will value the company at $2.4 billion. In the coming months, at least three electric vehicle companies are reportedly aiming to go the SPAC route. SoftBank is grappling with an ongoing spate of resignations this year. Perella Weinberg Partners agrees to be acquired by Betsy Cohen’s SPAC, Fintech IV. The $1.1 billion SPAC announced a deal in July to merge with MultiPlan, a provider of software and services to health insurers, at an enterprise value of $11 billion.SPACs and companies must also have a market capitalization of at least $250 million to make the index. Vista Equity Partners-backed Solera Holdings Inc. is in talks to go public via a merger with SPAC Apollo Strategic Growth Capital.The SPAC has begun talks with investors about raising equity to support a transaction with the financial software company. They’ve been around for years, but are just now becoming a factor for biotech. Omnichannel Acquisition SPAC plans to raise $350 million by offering 35 million units at a price of $10. At the proposed deal size, dMY Technology Group III would command a market value of $313 million. Five things to know about SPAC transactions:1- SPACs have a substantial structural advantage over traditional IPOs…2- A successful listing of a SPAC IPO is just the beginning…3- Some sectors are more conducive to SPAC IPOs than others…4- SPACs can be an attractive solution across many market cap ranges…5- SPAC IPO issuance likely won’t slow down anytime soon…. The company is the owner of The Liberty Braves Group, Formula One Group and The Liberty SiriusXM Global. RedBall, a blank-check investment company, has been looking to buy a professional sports team. Sternlicht joined “Squawk Box” on Thursday to discuss. 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. 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. Target Notes: Merger will combine Owl Rock Capital Group and Dyal Capital Partners into Blue Owl Capital, a differentiated alternative asset manager with industry leading Direct Lending and GP Capital Solutions businesses managing over $45.0 billion in assets. The companies have raised more than $30 billion so far this year. The London, UK-based company plans to raise $300 million by offering 30 million units at $10. New You can click & drag column headers to reorder. Despite the recent stock market volatility, SPAC IPOs show no signs of slowing down. 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. Real estate company Opendoor, gaming group DraftKings and electric vehicle business Nikola are among the names to have recently opted for SPAC debuts. HydraFacial and Vesper Healthcare Acquisition today announced that they have entered into a definitive merger agreement.The transaction has a pro forma enterprise value of $1.1 billion, the companies said. SoftBank’s Vision Fund is preparing to raise between $500 million and $600 million via an initial public offering of its first special purpose acquisition company (SPAC), U.S. news portal Axios reported on Sunday. Thayer Ventures SPAC is aiming to raise $175 million via an initial public offering [IPO] to invest in travel and transportation companies. SPACs allow smaller investors to pool money into an entity that mimics the financial might a private equity group can muster, while defraying the risk among those disparate investors. Total SPAC deal count for 2020 year-to-date is now 113 with $43.1 billion in gross proceeds raised. 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. Joshua Harris estimated that SPACs have gone from 3% of the market to 20% during the recent surge. Industrial Tech Acquisitions, a blank check company targeting a technology business operating in an industrial or energy area, raised $75 million by offering 7.5 million units at $10. Sunny Siu (Managing Director Broadcom China Wireless, Underwriters: Cantor Fitzgerald & Co, Northland Securities, Top SPAC Merger News This Week: SoFi, Clover Health, Lion Electric and 6 More Hot SPACs, Achronix SPAC Merger? The U.S. accounts for almost all of that figure. The deal is expected to close near the end of the year, and the company will be named ChargePoint Holdings Inc. No New York Stock Exchange trading symbol has yet been identified. The company would go public through the special purpose acquisition company, or SPAC, which Stable Road raised $172.5 million for in November 2019. The merger values PureCycle Technologies with an enterprise value of $1.2 billion. The transaction comes during a wave of market interest in special purpose acquisition companies, or SPACs, often called blank-check companies. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. Diginex merged with a SPAC called 8i Enterprises, which is already traded publicly. Healthcare Services Acquisition Corporation announced the pricing of its upsized $288 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol HCARU” Wednesday, December 23. Carolina Brochado gave her notice a month after she was promoted to partner. SPAC Acquisitions – a view behind the scenes:A typically example how a SPAC Board, after IPO, probes the market and possible acquisition targets. Lakestar, an early investor in Spotify Technology SA, is looking to raise as much as 400 million euros ($484 million) for a rare Europe-listed blank-check company, people familiar with the matter said. One is the novel coronavirus pandemic. 6 Things to Know About the Semiconductor Play Ahead of Any ACE Deal. He is the latest in a line of wealthy investors to set up a SPAC. Liberty Media Corporation, one of the largest media companies in the U.S., is entering the SPAC market with a newly announced IPO.The sponsor of the SPAC offering is Liberty Media Corp. 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. He also sits on the board of Facebook Inc (NASDAQ: FB). Better World Acquisition, a SPAC formed by N*GEN Partners targeting a healthy living business with a strong ESG profile, lowered the proposed deal size for its upcoming IPO on Monday. info@spacconsultants.com, Former Disney executives Mayer and Staggs plan new SPAC, Satellite imagery and data firm BlackSky to go public in latest SPAC deal, Tech investor Klaus Hommels launches $332 million SPAC in Europe, AEye becomes latest lidar company to go public via SPAC, European bankers set sights on Amsterdam as regional Spac capital, Boeing-Backed Aerion Is in Talks for Altitude SPAC Listing, Germany’s HelloFresh founder Richter to launch U.S. SPAC, Electric vehicle maker Lucid Motors nears SPAC deal, Europe’s richest man is joining the SPAC craze, Indonesia’s Traveloka Plans U.S. At the proposed deal size, Benessere Capital Acquisition will command a market value of $128 million. CBRE, the world’s largest real estate services firm, has formed a SPAC, called CBRE Acquisition Holdings.

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