Posts
January 06 2022
Buyer Beware As Athlete-Backed SPACs Take A -70% ‘L’
Things look very grim for SPACs spearheaded by some of your favorite athletes, as these special acquisition blank check companies tied to notable sports figures have been severely trailing the S&P 500. Shaquille O’Neal, Colin Kaepernick, Jay-Z, Serena Williams, Alex Rodriquez and Steph Curry have all recently gotten into the SPAC game without much success. Specifically, 21 out of 33 SPACs tied to famous public figures have posted negative returns for 2021, according to Bloomberg.
www.forbes.com
January 05 2022
Will SPACs Cool Off in 2022? Alternatives to Consider
SPACs, or special purpose acquisition companies, are companies with no commercial operations and form an alternative path to an initial public offering (IPO). They are created strictly to raise capital through an IPO to acquire an existing company. Also called a blank-check company, a SPAC is a shell company that raises money and trades on a stock exchange.
www.entrepreneur.com
January 04 2022
Still No 2022 SPAC Deal Announcements
It was another light day for SPAC news and no deal announcements for trading day 2 of 2022. The lack of deals certainly isn’t due to a lack of SPACs looking for therm — there are just about 575 SPACs actively search at this point. As we’ve discussed before, the deal announcement and close rate will have to pick up significantly in 2022 for the market to smoothly clear out the oversupply.
www.thestreet.com
December 15 2021
Plant-based packaging-maker Footprint going public via $1.6 billion SPAC
Footprint, an Arizona-based materials science technology company known for its plant-based packaging, will make its market debut by merging with blank-check firm Gores Holdings VIII. The deal is expected to value Footprint, ranked No. 45 on this year’s CNBC Disruptor 50 list, at $1.6 billion following the SPAC merger’s completion.
www.cnbc.com
December 14 2021
Footprint Agrees to $1.6 Billion Gores SPAC Deal as Koch Invests
Footprint, a materials-science technology company seeking to eliminate single-use plastic, agreed to merge with Gores Holdings VIII Inc., a special purpose acquisition company led by billionaire Alec Gores.
www.bloomberg.com
December 13 2021
Harley-Davidson’s electric motorcycle brand LiveWire is merging with a SPAC to go public
LiveWire, the electric motorcycle company spun out of Harley-Davidson, is going public by merging with a special acquisition company, or SPAC. The transaction will net LiveWire approximately $545 million at a pro forma enterprise value of approximately $1.77 billion, Harley-Davidson says in its announcement. LiveWire is the latest electric vehicle company to go public by merging with a SPAC, which are also known as “blank check” companies.
www.theverge.com
December 13 2021
SoftBank SPAC to take Walmart-backed Symbotic public in $5.5 bln deal
Walmart Inc-backed (WMT.N) Symbotic said on Monday it would go public through a merger with a SoftBank Group Corp (9984.T) blank-check firm in a deal offering the robotics and automation startup a pro-forma equity value of $5.5 billion.
www.reuters.com
December 10 2021
Getty Images to go public again in $4.8bn SPAC deal
Getty Images has revealed plans to rejoin the US stock market after more than a decade-long hiatus, in a $4.8bn (£3.6bn) SPAC deal. The British-American visual media company, which provides stock and news photos, will merge with a special purpose acquisition company (SPAC) called CC Capital and Neuberger Berman, with total equity investment totalling $1.2bn.
www.nz.news.yahoo.com