Posts
February 06 2022
Analysis: Singapore bets on niche SPAC listings to capture tech boom
After years of struggling to emerge from the shadows of regional rivals, Singapore Exchange is looking to establish itself as the hub for blank-cheque firms, riding on regulatory overhaul, support by state firms, and a tech boom in its back yard.
www.reuters.com
January 26 2022
Maker Of $295 Prescription Video Game For Kids With ADHD To Go Public In Palihapitiya-Led SPAC Deal
Akili Interactive, a digital therapeutics company with an FDA-cleared prescription video game to treat ADHD symptoms in kids, will go public in a SPAC deal led by Chamath Palihapitiya.
www.forbes.com
January 25 2022
UAE approves first SPAC framework in the Gulf region
DUBAI, United Arab Emirates — to attract new investment, despite a fall in popularity for the controversial funding tool.
www.cnbc.com
January 25 2022
Hollywood Visual-Effects Studio DNEG Reaches $1.6 Billion SPAC Merger to Go Public
Hollywood visual-effects studio DNEG is combining with a special-purpose acquisition firm to go public with a roughly $1.6 billion valuation, the businesses stated. Identified for its Oscar-winning visuals work on motion pictures resembling “Inception” and “Tenet,” DNEG is merging with the SPAC Sports activities Ventures Acquisition Corp., a blank-check agency centered on the media and leisure industries.
www.wsj.com
January 06 2022
Tilman Fertitta Seeks a $250 Million Payday After Ditching SPAC Deal
Two years ago, the pandemic forced Tilman Fertitta to shutter his empire of casinos and restaurants, furlough 40,000 workers, and inject $50 million of his own money into his company. Now the Texas billionaire is using exuberant debt markets to pay himself back, and then some.
www.bloomberg.com
January 06 2022
Buyer Beware As Athlete-Backed SPACs Take A -70% ‘L’
Things look very grim for SPACs spearheaded by some of your favorite athletes, as these special acquisition blank check companies tied to notable sports figures have been severely trailing the S&P 500. Shaquille O’Neal, Colin Kaepernick, Jay-Z, Serena Williams, Alex Rodriquez and Steph Curry have all recently gotten into the SPAC game without much success. Specifically, 21 out of 33 SPACs tied to famous public figures have posted negative returns for 2021, according to Bloomberg.
www.forbes.com
January 05 2022
Will SPACs Cool Off in 2022? Alternatives to Consider
SPACs, or special purpose acquisition companies, are companies with no commercial operations and form an alternative path to an initial public offering (IPO). They are created strictly to raise capital through an IPO to acquire an existing company. Also called a blank-check company, a SPAC is a shell company that raises money and trades on a stock exchange.
www.entrepreneur.com
January 04 2022
Still No 2022 SPAC Deal Announcements
It was another light day for SPAC news and no deal announcements for trading day 2 of 2022. The lack of deals certainly isn’t due to a lack of SPACs looking for therm — there are just about 575 SPACs actively search at this point. As we’ve discussed before, the deal announcement and close rate will have to pick up significantly in 2022 for the market to smoothly clear out the oversupply.
www.thestreet.com