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April 15, 2021

SPAC

Post cuts size of SPAC IPO

FoodBusinessNews
ST. LOUIS — Post Holdings Partnering Corp. (PHPC), a business unit of Post Holdings, Inc. that earlier this year formed a special purpose acquisition company (SPAC) with the intention of raising funds to partner with a business in the consumer products space, disclosed in a revised S-1 filing with the......

SoftBank-backed Grab agrees to deal to go public in world’s largest SPAC merger

CNBC
CNBC – For more and to sign up click here Southeast Asia’s ride-hailing giant Grab announced Tuesday that it’s set to go public through a SPAC merger with Altimeter Growth Corp., in a deal that values the company at $39.6 billion — the largest blank-check merger to date. Grab says......

Breakingviews – Capital Calls – SPAC silence isn’t golden

Reuters
A sign is seen outside the 11 Wall St. entrance of the New York Stock Exchange (NYSE) in New York, U.S., March 1, 2021. REUTERS/Brendan McDermid NEW YORK (Reuters Breakingviews) – BLANK TONGUES. Managers of special-purpose acquisition companies are giving investors the silent treatment. When hosting calls to explain their......

Aviation start-up Lilium to go public through SPAC deal with ex-GM executive

CNBC
CNBC – For more and to sign up click here Lilium’s five-seater air taxi, the Lilium Jet, can be seen flying at an airfield in southern Germany in new footage released by the firm. Lilium German aviation start-up Lilium has agreed to go public through a merger with Qell Acquisition......

Online payments company Paysafe going public in SPAC merger Tuesday, Bill Foley says

CNBC
CNBC – For more and to sign up click here London-based online payments company Paysafe is set to begin trading on U.S. public markets after merging with blank-check company Foley Trasimene Acquisition II Corp, billionaire business and sports executive Bill Foley told CNBC Monday. Foley, who set up the special purpose......

The SPAC frenzy may be heading to Asia — experts say clearer rules are needed

CNBC
CNBC – For more and to sign up click here The central business district skyline from the Marina Bay Sands in Singapore, on Tuesday, Nov. 3, 2020. Lauryn Ishak | Bloomberg | Getty Images Wall Street’s hottest trend may be headed to Asia. SPACs — or special purpose acquisition companies......

SEC to review Lordstown Motors’ SPAC deal, vehicle preorders

Reuters
FILE PHOTO: The seal of the U.S. Securities and Exchange Commission hangs on the wall at SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst/File Photo SAN FRANCISCO/DETORIT (Reuters) – The U.S. Securities and Exchange Commission has asked Lordstown Motors Corp for information related to its merger with blank-check company......

British electric vehicle firm Arrival sinks in SPAC debut

CNBC
CNBC – For more and to sign up click here LONDON — British electric vehicle manufacturer Arrival began trading on the Nasdaq Thursday following a merger with a U.S. blank-check company. The company finalized its combination with CIIG Merger Corp, a special purpose acquisition company (SPAC) set up by former......

Space infrastructure conglomerate Redwire to go public via a SPAC

CNBC
CNBC – For more and to sign up click here Redwire chief operating officer Andrew Rush shows former NASA administrator Jim Bridenstine a spacecraft model of subsidiary Made In Space. Redwire Space Space infrastructure conglomerate Redwire Space is preparing to go public, announcing Thursday that it is the latest in......

KORE to go public via over $1 bln SPAC deal

Reuters
March 12 (Reuters) – KORE Wireless Group Inc said on Friday it has agreed to go public through a merger with blank-check firm Cerberus Telecom Acquisition Corp in a deal that values the combined company at a pro-forma enterprise value of $1.01 billion. (Reporting by Sohini Podder in Bengaluru; Editing......

Kering founder Pinault joins wave of SPAC investors

Reuters
FILE PHOTO: Francois-Henri Pinault, Chairman and Chief Executive Officer of French luxury group Kering, attends the annual news conference of Kering at the company’s headquarters in Paris, France, February 12, 2019. REUTERS/Benoit Tessier PARIS (Reuters) – Francois Pinault, the French billionaire who founded Kering, the group behind Gucci, has invested......

Kering founder Pinault joins wave of SPAC investors

Reuters
FILE PHOTO: Francois-Henri Pinault, Chairman and Chief Executive Officer of French luxury group Kering, attends the annual news conference of Kering at the company’s headquarters in Paris, France, February 12, 2019. REUTERS/Benoit Tessier PARIS (Reuters) – Francois Pinault, the French billionaire who founded Kering, the group behind Gucci, has invested......

Real estate title firm Doma, backed by Lennar, to go public in deal with SPAC

CNBC Real Estate
Rows of houses in Las Vegas. Jacob Kepler | Bloomberg | Getty Images Doma, a firm that looks to disrupt the real estate title insurance market, has agreed to combine with Capitol Investment Corp. V, a publicly traded special purpose acquisition company. Doma, formerly known as States Title, has a......

Satellite data company Spire goes public via SPAC, adding to a growing list of public space plays

CNBC
CNBC – For more and to sign up click here A Spire satellite pictured in orbit. Spire Global Small satellite builder and data specialist Spire Global is planning to go public, announcing on Monday that it is the latest among multiple space companies to merge with a SPAC. Spire Global......

Small-launch leader Rocket Lab going public via a SPAC, with plans for bigger Neutron rocket

CNBC
CNBC – For more and to sign up click here Rocket Lab CEO Peter Beck stands with one his company’s Electron rockets. Rocket Lab Rocket Lab, the leader among companies building small rockets to launch satellites, is going public through a SPAC merger that values the company at more than......

Shares of SPAC for electric car company Lucid plummet another 20% after merger announcement

CNBC
CNBC – For more and to sign up click here Exterior of the Lucid Air sedan, which debuted Sept. 9, 2020 as the company’s first production vehicle. Lucid Shares of Churchill Capital IV continued to plummet for a second consecutive day Wednesday after announcing a deal Monday night to bring......

Breakingviews – Capital Calls: Bill Ackman’s SPAC surges

Reuters
U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken February 8, 2021. REUTERS/Dado Ruvic/Illustration New York (Reuters Breakingviews) – Concise insights on global finance in the Covid-19 era. ————————————————- SO MUCH CONFIDENCE. SPAC investors are betting on Bill Ackman, then betting on him......

Satellite imagery specialist BlackSky is going public in latest space SPAC

CNBC
CNBC – For more and to sign up click here An artist’s illustration of the company’s Global satellites in orbit. BlackSky Seattle-based satellite imagery specialist BlackSky is the latest space venture that will soon begin trading publicly, with the company on Thursday announcing a SPAC deal. BlackSky is merging with......

Wall Street’s SPAC craze scales new heights with record filings

Reuters
FILE PHOTO: A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. REUTERS/Carlo Allegri/File Photo/File Photo (Reuters) – Richard Branson and Barry Sternlicht were among more than two dozen investor groups that filed with U.S. regulators on Friday to raise new blank-check......

Breakingviews – Capital Calls: SPAC romance

Reuters
A worker displays a heart-shaped praline for Valentine’s Day at a Wittamer chocolate boutique in Brussels February 14, 2012. REUTERS/Francois Lenoir NEW YORK (Reuters Breakingviews) – Concise insights on global finance in the Covid-19 era. ————————————————- EVERYONE LOVES SPACS. What do you give a financier for Valentine’s Day? A special-purpose......

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