Posts
November 23 2020
Microsoft cloud partner AvePoint going public via merger with blank-check company Apex Technology
AvePoint Inc., a data management provider and Microsoft Corp. MSFT, 0.25% cloud partner, is going public through a merger with blank-check company Apex Technology Acquisition Corp. APXT, 4.67%, in deal valuing the equity value of the combined company at $2 billion.
www.marketwatch.com
November 20 2020
Cascade Acquisition Corp. announced the pricing of its initial public offering in the amount of $200,000,000. EGS acted as counsel to Cascade Acquisition Corp.
November 19 2020
Samsara BioCapital’s biopharma SPAC Jiya Acquisition prices $100 million IPO at $10
Jiya Acquisition, a blank check company formed by Samsara BioCapital targeting the biopharmaceutical sector, raised $100 million by offering 10 million shares at $10. Unlike an ordinary SPAC, Jiya Acquisition did not offer units with warrants attached.
www.nasdaq.com
November 19 2020
European investment group’s SPAC Investindustrial Acquisition prices $350 million IPO at $10
Investindustrial Acquisition, a blank check company formed by Investindustrial targeting the consumer, healthcare, industrial, and tech sectors, raised $350 million by offering 35 million units at $10.
www.nasdaq.com
November 19 2020
TMT and entertainment SPAC Liberty Media Acquisition files for a $500 million IPO
Liberty Media Acquisition, a blank check company formed by Liberty Media Corporation targeting TMT and entertainment, filed on Thursday with the SEC to raise up to $500 million in an initial public offering.
www.renaissancecapital.com
November 19 2020
A Tesla rival is going public at a $5.4 billion valuation via a SPAC set up by Marvel Comics’ ex-CEO
British electric-vehicle startup Arrival will go public by combining with a US “blank check company” set up by Peter Cuneo, the former CEO of Marvel Comics and personal care firm Remington Products.
www.markets.businessinsider.com
November 19 2020
How SPACs Became Wall Street’s Money Tree
If you want to see the future of so many of the special purpose acquisition companies currently flooding the market, look to the recent past. Nearly five years ago, Landry’s Seafood billionaire Tillman Fertitta took Landcadia Holdings public to the tune of $345 million. No matter that, true to the SPAC “blank check” model, there was not yet any operating business—dozens of hedge funds piled into its $10-per-unit IPO.
www.forbes.com
November 19 2020
SEC boss Jay Clayton to take a deeper look at the blank-check company boom
Wall Street’s top regulator wants to take a closer look at blank-check companies on his way out the door. Securities and Exchange Commission Chairman Jay Clayton said Thursday that his agency is exploring how to improve disclosures for special purpose acquisition companies, or SPACs, that have become all the rage on Wall Street in 2020.
www.nypost.com