Posts
October 26 2020
The Gores Group’s SPAC Gores Holdings VI increases deal size by 75% ahead of $525 million IPO
Gores Holdings VI, a sixth blank check company formed by The Gores Group, raised the proposed deal size for its upcoming IPO on Monday.
www.nasdaq.com
October 26 2020
Lordstown Motors Jumps in SPAC Debut on Nasdaq
Shares of electric-vehicle maker Lordstown Motors RIDE raced out of the gate, then pared the gains in their public debut on the Nasdaq.
www.thestreet.com
October 26 2020
Genius Sports in Talks to Go Public Through SPAC
Genius Sports Group is nearing a deal to go public through a merger with DMY Technology Group Inc. II, a blank-check firm led by former EMC Corp. executive Harry You and former Glu Mobile Inc. Chief Executive Officer Niccolo De Masi, according to people with knowledge of the matter.
www.bloomberg.com
October 26 2020
Blank-check firm backed by billionaire Charles Ergen cuts IPO size
CONX Corp, a blank-check company led by billionaire Charles Ergen, downsized its initial public offering on Monday, the latest special-purpose acquisition company (SPAC) to cut its offering size in recent weeks.
www.reuters.com
October 24 2020
Where Did All These SPACs Come From And Could They Inflate A New Bubble?
A SPAC, or special purpose acquisition company, is a shell company with no operations of its own set up to take another company public without going through the traditional IPO process. The idea is to group a series of retail investor funds to finance a merger or a leveraged acquisition within a set period.
www.forbes.com
October 22 2020
Warren Buffett’s great-nephew joins the SPAC boom by listing a $150 million blank-check company
Warren Buffett’s great-nephew took his “blank-check” company public on Thursday, joining the likes of billionaire investors Bill Ackman and Chamath Palihapitiya in raising money to make a future, as-yet-unknown acquisition.
www.markets.businessinsider.com
October 22 2020
King of SPACs: Doug Ellenoff of EGS Discusses the Hot SPAC Market – “Not a Fad”
The law firm of Ellenoff, Grossman, and Schole (EGS) has long been a leading Manhattan firm in the SPAC sector (Special Purpose Acquisition Company). This year, SPACs have boomed, including multiple high profile issuers as well as several Fintech focused SPACs.
www.crowdfundinsider.com
October 21 2020
Warning to Wall Street: SPACs may be out of control
Reverse mergers were long reserved to the backwaters of Wall Street. Today, they’ve become the hottest way to go public. Virgin Galactic (SPCE), DraftKings and Nikola have all gone public by merging with special purpose acquisition companies, or SPACs. Even Playboy is joining the SPAC craze.
www.cnn.com