Posts
July 19 2021
Ackman Abandons Universal Music SPAC Deal After SEC Backlash
Bill Ackman will buy a stake in Universal Music Group with his hedge fund rather than his blank-check company after opposition from investors and U.S. regulators.
www.bloomberg.com
July 19 2021
Kin Insurance to Go Public Via Matt Higgins SPAC Deal
Kin Insurance Inc., an insurance-technology startup that counts golfer Rory McIlroy among its investors, has agreed to go public through a merger with Omnichannel Acquisition Corp., a blank-check firm led by Matt Higgins, a longtime investor who has appeared as a “Shark Tank” judge.
www.bloomberg.com
July 19 2021
Gelesis to take its stomach-filling weight loss capsule public in $1.3B SPAC merger
Gelesis’ flagship technology may be designed to help people slim down, but the device maker itself is doing anything but, as the company makes plans to significantly bulk up its market standing and valuation through a proposed reverse merger with special purpose acquisition company Capstar.
www.fiercebiotech.com
July 19 2021
Italy’s Zegna to list in the U.S. with $3.2 bln SPAC deal
Italian luxury group Ermenegildo Zegna will list in New York by combining with a U.S. investment vehicle, giving the menswear company an enterprise value of $3.2 billion and helping it expand in Asia and the United States.
www.reuters.com
July 19 2021
Investors drop out of Momentus SPAC deal
Investors accounting for more than half the money in a funding round concurrent with in-space transportation company Momentus’s merger with a special-purpose acquisition company (SPAC) dropped out of the deal when given the opportunity by a settlement with the Securities and Exchange Commission.
www.spacenews.com
July 09 2021
Benchmark’s Bill Gurley says SPACs are ‘remarkably cheap compared to mispriced IPOs’
Nextdoor’s decision to go public through a special purpose acquisition company was largely the result of favorable pricing compared with a traditional IPO, said Bill Gurley, a partner at Benchmark and an early investor in the neighborhood social network.
www.cnbc.com
July 09 2021
Crypto Exchange Bullish to Go Public in $9B Blank-Check Deal
Bullish, a cryptocurrency exchange company, said Friday it intended to go public through a merger with Far Peak Acquisition (FPAC) – Get Report, a special purpose acquisition company, in a deal valued at about $9 billion.
www.thestreet.com
July 08 2021
Equinox’s Merger Talks With Palihapitiya-Backed SPAC Have Ended
Equinox Holdings, the luxury gym operator popular among celebrities and financiers, is no longer in talks to go public through a merger with a blank-check company backed by investor Chamath Palihapitiya, according to people with knowledge of the matter.
www.bloomberg.com