Posts
May 11 2021
Bill Gates-backed Ginkgo Bioworks going public via $15 billion SPAC
Boston-based biotech company Ginkgo Bioworks will make its market debut by merging with Soaring Eagle Acquisition Corp., the blank-check company led by former MGM CEO Harry Sloan.
www.cnbc.com
May 10 2021
Gores Completes SPAC Deal Valued at $2.2 Billion
A special purpose acquisition company backed by billionaire Alec Gores and investment partner Dean Metropoulos will take short-term lodging startup Sonder Holdings Inc. public.
www.labusinessjournal.com
May 10 2021
Vice Media Targets Valuation of Nearly $3 Billion in Proposed SPAC Deal
Vice Media Group’s plans to go public through a nearly $3 billion merger with a blank-check firm would leave existing investors with control of the company and remove Vice’s onerous financial obligations to private-equity firm TPG, according to people familiar with the matter.
www.wsj.com
May 10 2021
Self-driving truck startup Plus to go public through $3.3 bln SPAC deal
Plus said on Monday it would go public through a merger with blank-check company Hennessy Capital Investment Corp. V (HCIC.O) in a deal that values the self-driving truck technology startup at $3.3 billion.
www.reuters.com
April 27 2021
Demand for D&O insurance explodes with SPAC-related activity and future litigation concerns
Demand for directors’ and officers’ (D&O) liability insurance has exploded along with the proliferation in SPAC-related activity in the United States, giving insurers more business but bringing with it some concerns of an elevated, unsized level of litigation risk down the road.
www.reuters.com
April 26 2021
The SPAC boom has ‘screeched to a halt.’ That may be good thing
One of the hottest corners of financial markets is getting slightly less manic. What’s happening: Billionaires, celebrities and athletes have raced to create special-purpose acquisition companies, or SPACs, over the past six months. These “blank check” firms, which raise money from investors and then go hunting for takeover targets, have been flagged as a sign of overexcitement on Wall Street.
www.cnn.com
April 26 2021
Company tied to football Hall of Fame embraced SPACs and NFT. A tale of two bubbles?
A company with ties to the Pro Football Hall of Fame in Canton, Ohio, benefited from not only one apparent investment bubble, but from two. Now the air is leaking fast.
www.cbsnews.com
April 25 2021
SPAC Insiders Can Make Millions Even When the Company They Take Public Struggles
Investors who bought into a special-purpose acquisition company that took a healthcare-services company public last year in an $11 billion deal have suffered steep losses. Promoters of the SPAC still stand to make millions.
www.wsj.com