B. Riley Principal Merger Corp. and Alta Equipment Holdings Complete Business Combination
B. Riley Principal Merger Corp. (NYSE: BRPM, BRPM WS, BRPM.U), a special purpose acquisition company sponsored by an affiliate of B. Riley Financial, Inc. (Nasdaq: RILY), and Alta Equipment Holdings, Inc., a leading provider of premium industrial and construction equipment and related services, today announced the completion of their previously announced business combination, forming a leading publicly traded equipment dealership platform.
www.newyork.citybizlist.com
TKK Symphony Acquisition Corporation (NASDAQ:TKKS) (“TKK”), a special purpose acquisition company, and Glory Star New Media Group Limited (“Glory Star”), a leading mobile and online digital media and entertainment company in China, today announced the closing of the transactions contemplated by their previously-announced share exchange agreement, pursuant to which TKK acquired Glory Star (the “Business Combination”).
www.benzinga.com
Boxwood Merger Corp. and Atlas Technical Consultants Complete Business Combination
Boxwood Merger Corp. (Nasdaq: BWMC, BWMCU and BWMCW) (“Boxwood”), a publicly-traded special purpose acquisition company, and Atlas Intermediate Holdings LLC (“Atlas”), a leading provider of professional testing, inspection, engineering, program management and consulting services under the name Atlas Technical Consultants, announced today the completion of their previously announced business combination, pursuant to which Boxwood acquired Atlas, a Bernhard Capital Partners portfolio company, for approximately $617 million in total consideration.
www.finance.yahoo.com
SCVX launches with $230M IPO, eyes cybersecurity acquisition
SCVX Corp. is looking to make acquisitions in the cybersecurity industry, and it’s taking a different route to reach that goal. Washington, D.C.-based investment firm Strategic Cyber Ventures this week launched the IPO of SCVX, which raised $230 million Wednesday. The new company entered the New York Stock Exchange as a special purpose acquisition company (SPAC), which is a blind pool of capital raised through an IPO with the purpose of acquiring an asset.
www.searchsecurity.techtarget.com
‘Blank-Check’ Companies Are Hot on Wall Street. Investors Can’t Ignore Them.
Some big-name initial public offerings last year were panned for not having a profitable business. Yet more than a quarter of the offerings were of companies with no business at all—by design.
These were special purpose acquisition companies, or SPACs, also known as “blank-check companies.” Their goal is to raise money from public and private investors and then identify an acquisition target and buy it, typically within two years. SPACs raised $13.6 billion in 59 IPOs last year.
www.barron’s.com
Fintech SPAC East Stone Acquisition files for a $100 million IPO
East Stone Acquisition, a blank check company formed by East Stone Capital to acquire a fintech business, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
www.nasdaq.com
Far Point to Buy Global Blue From Silver Lake
Far Point Acquisition Corp., FPAC +0.75% the blank-check company launched by former New York Stock Exchange President Thomas Farley, said Thursday it plans to buy Swiss payments company Global Blue for $2.6 billion, including debt.
www.wsj.com
“SPAC” No Longer A Four-Letter Word On Wall Street
Sometimes called a ‘buyer of last resort,’ SPACs, or special purpose acquisition companies, are revamping their image and enjoying a resurgence after a 25% uptick last year. These entities, also called blank check companies, raise capital through an initial public offering and use the proceeds to acquire an existing company, usually within two years. The money raised through the IPO is put into a trust until the SPAC identifies a target. That makes the people behind the SPAC a major selling point for investors.
www.forbes.com