SPACS

Video: 10 Top SPAC Picks For Investors To Consider In 2021

Published

3 weeks ago

January 3, 2021

SPACs were one of the hottest investment stories of 2020 and look to continue that momentum into 2021.

Here are 10 SPACs and former SPACs that could outperform for investors in 2021, shared initially on Thursday’s SPACs Attack show from Benzinga.

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Searching For Targets: Led by Zynga Inc (NASDAQ: ZNGA) founder Mark Pincus and LinkedIn founder Reid Hoffman, Reinvent Technology Partners (NYSE: RTP) is targeting the technology sector. The duo met in 2002 and have been partnered together on several deals, including leading the seed round in Friendster and being early investors in Facebook Inc (NASDAQ: FB).

Burgundy Technology Acquisition (NASDAQ: BTAQ) is targeting the technology and enterprise software markets. The SPAC is led by Leo Apotheker, the former CEO of HP Inc (NYSE: HPQ) and SAP SE (NYSE: SAP). At SAP, Apotheker helped transform the company from a single product to a multi-solution business. The SPAC is targeting a company from the U.S. or Europe, with Israel also mentioned in the prospectus. EToro, Taboola, Outbrain and REE Automotive are among the Israeli companies considering IPOs or SPAC mergers to go public in 2021.

Social Capital Hedosophia Holdings Corp VI (NYSE: IPOF) is the sixth SPAC in a series from Chamath Palihapitiya. Each of the three newest SPACs from Palihapitiya has the same management team with one added member for each team. The extra member for IPOF is Richard Costolo, the former CEO of Twitter Inc (NYSE: TWTR). This SPAC raised over $1 billion and could land the potentially largest deal for Palihapitiya. The SPAC could also see strong interest if any of the other Palihapitiya SPACs close or announce deals.

Ajax I (NYSE: AJAX) has an all-star management team led by former CEOs and founders of well-known companies. The team includes 23andMe founder Anne Wojcicki, Instagram founder Kevin Systrom, Square Inc (NYSE: SQ) founder Jim McKelvey and Chipotle Mexican Grill Inc (NYSE: CMG) founder Steve Ellis. The SPAC is also led by Daniel Och and Glenn Fuhrman, who both worked at Goldman Sachs (NYSE: GS) and have experience with private investments in Coinbase, Github, Instacart, Robinhood, Stripe and Wish. The SPAC is targeting sectors that include internet, software, fintech and consumer.

SPACS With Pending Deals: Northern Genesis Acquisition Corp (NYSE: NGA) has a pending merger with Lion Electric, a company focusing on the electric vehicle market for buses and vans. The company has current production capabilities of 2,500 units a year with plans to ramp that figure up. Lion Electric has charging infrastructure and telematics solutions to offer customers as well. The clean energy plan of President-elect Joe Biden calls for converting 500,000 school buses to zero emissions, which could favor a company like Lion Electric. The company has announced deals with ChargePoint and Blink Charging (NASDAQ: BLNK) to offer charging infrastructure with its electric vehicles to customers.

Genius Sports, which provides sports data to sports betting companies, is going public with dMY Technology Group Inc II (NYSE: DMYD). Genius Sports is on pace to provide data for over 240,000 events a year, including as the official provider for 170,000 events. Genius has deals in place with the NBA, NCAA, FIBA, FIFA, EPL, PGA and Nascar. Customers for Genius Sports include DraftKings Inc (NASDAQ: DKNG), FanDuel, William Hill, Caesars and BetMGM. Genius Sports is expecting revenue to grow at a compounded annual growth rate of 29%.

Butterfly Network, which offers portable ultrasound technology, is going public with Longview Acquisition Corp (NYSE: LGVW). The goal of Butterfly Network is to put ultrasound on a chip and make it more accessible in underserved areas and also help replace bulky traditional cart-based devices. Butterfly Networks has sold over 30,000 units and has deals in place with many of the top 100 U.S. hospitals. Butterfly Network is backed by Bill Gates and Baillie Gifford. Cathie Wood has been adding and now holds over 1.2 million shares of Longview in the Ark Genomic ETF (BATS: ARKG).

Stable Road Acquisition Corp (NASDAQ: SRAC) is merging with space company Momentus. Called the “FedEx of Space” by Barron’s and a “zero gravity logistics player,” Momentus will partner with companies to move items in space. Momentus has a deal with SpaceX and plans on launching satellites as a service in the future. Momentus forecasts it will hit $1 billion in revenue in 2024.

Former SPACs: Desktop Metal Inc (NYSE: DM) completed its merger in 2020 and saw shares fall over 20% on its first day as a publicly traded company. Desktop Metal is a play on manufacturing entering a 2.0 era and using lighter and more efficient 3D-printers in sectors like aerospace and automotive. Production of these items at scale could be the holy grail of 3D printing.

Fisker Inc (NYSE: FSR) is seeking to be a major player in the electric vehicles market in the future. The company has over 10,000 reservations for its Fisker Ocean vehicle. A partnership with Magna International (NYSE: MGA) for production allows Fisker to focus on marketing and design of future vehicles. Fisker could have a big 2021 with an influencer campaign and continued analyst coverage. CEO Henrik Fisker said he is planning on attending the virtual 2021 Consumers Electronics Show in January, which could be a potential catalyst in early 2021.

Source: Benzinga – 10 Top SPAC Picks For Investors To Consider In 2021

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SPACS

Event: TechGC SPAC & Direct Listing Virtual Forum

Published

10 hours ago

January 26, 2021

Republished by Plato

TechGC is a private, invitation only, organization for General Counsels of leading venture capital firms and venture-backed technology companies. Our mission is to drive innovation, education and mentorship in the legal industry while creating a strong peer group and community that supports each other for many years to come.

Our membership includes over 1,500 GCs across New York, San Francisco, Boston, Los Angeles, Chicago, and Seattle and we host quarterly private GC-only events across our six chapters including the TechGC National Summit and the FullStack GC Conference Series.

Source: https://spacfeed.com/event-techgc-spac-direct-listing-virtual-forum?utm_source=rss&utm_medium=rss&utm_campaign=event-techgc-spac-direct-listing-virtual-forum

SPACS

Video: Betty Liu With Three Reasons Why SPACs Are So Popular

Published

11 hours ago

January 26, 2021

Republished by Plato

http://spacHero.com is the only #SPAC tracker with live stock, warrant prices and latest news are updated every 10 minutes.

Come get your daily dose… of #SPACs at http://www.spacHero.com

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Source: https://spacfeed.com/video-betty-liu-with-three-reasons-why-spacs-are-so-popular?utm_source=rss&utm_medium=rss&utm_campaign=video-betty-liu-with-three-reasons-why-spacs-are-so-popular

SPACS

Internet Entrepreneur Patrick Grove Files for $250 Million SPAC

Published

22 hours ago

January 26, 2021

Republished by Plato

Catcha’s SPAC will focus on tech in Southeast Asia, Australia
It’s among the first Asia-focused SPACs by tech entrepreneurs

Patrick Grove, a serial entrepreneur in Southeast Asia who runs internet-focused investment company Catcha Group, is the latest figure to seek capital through a blank-check firm.

The 45-year-old Australian is listed as chief executive officer and chairman of Catcha Investment Corp., a special purpose acquisition company that filed to raise $250 million through an initial public offering on the New York Stock Exchange, according to a filing on Tuesday.

Grove is one of the earliest internet entrepreneurs in Southeast Asia. Since founding Catcha Group in 1999, he and co-founder Luke Elliott have launched several startups and brought six of them to a public listing or sale. Those include iProperty Group Ltd., which was acquired by Australian real estate website REA Group Ltd. in 2016, as well as iCar Asia Ltd. and Frontier Digital Ventures Ltd., which are listed on the Australian Securities Exchange. Grove is also known for co-founding streaming platform iFlix Ltd., which was acquired by Tencent Holdings Ltd. last year.

Prominent figures from the business and investing worlds have been rushing into the SPAC market over the past year, which marked a record in the U.S. SPACs are empty corporate shells whose sponsors raise money from investors and then look to buy into another business, usually a private one. Increasingly, investors are planning SPAC listings that will be injected with Asian assets down the road.

Several blank-check firms with prominent Asia backers have launched in the past months, including one backed by SoftBank Group Corp. and another by billionaires Peter Thiel and Richard Li. Both will target technology companies.

SPACs can provide companies with an easier alternative to going public than the traditional IPO route, which can be a riskier option when volatility is high, as it was last year. Merging with a SPAC also allows a company to pitch itself to investors using forward-looking financial figures, which isn’t allowed in a traditional IPO.

Catcha’s blank-check firm will target technology, digital media and fintech companies across the Asia-Pacific, particularly in Southeast Asia and Australia, according to the filing.

It has formed an advisory board consisting of well-known regional venture capitalists. They include Gobi Partners founding partner Thomas Tsao, 500 Startups Managing Partner Khailee Ng, Qiming Ventures partner Helen Wong, K3 Ventures founder MX Kuok and Jungle Ventures Managing Partner David Gowdey.

Source: Bloomberg – Internet Entrepreneur Patrick Grove Files for $250 Million SPAC

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Aviation

Exclusive: Wheels Up in talks with SPAC to go public: sources

Published

1 day ago

January 25, 2021

Republished by Plato

(Reuters) – Wheels Up Partners LLC is in talks to go public through a merger with blank-check acquisition company Aspirational Consumer Lifestyle Corp. in a deal which could value the private jet charter company at more than $2 billion, people familiar with the matter said on Monday.

Aspirational Consumer Lifestyle has engaged with potential investors to buy into a private investment in public equity, or PIPE, transaction to raise additional funding for the deal to invest in Wheels Up, the sources said.

The sources, who requested anonymity to discuss the transaction, cautioned that it is possible talks could still collapse. Aspirational Consumer Lifestyle and Wheels Up did not immediately respond to requests for comment.

Aspirational Consumer Lifestyle is a so-called special purpose acquisition company led by LVMH executive and veteran private equity investor Ravi Thakran. The SPAC raised around $225 million in an initial public offering (IPO) on the New York Stock Exchange in September. U.S. private equity firm L Catterton, where Thakran is chairman-emeritus of its Asia business, is a minority investor in Aspirational Consumer Lifestyle.

Wheels Up would be the latest company in the aviation sector to seek to merge with a SPAC in order to list its shares on the stock market.

Air taxi company Blade Urban Air Mobility agreed to merge last month with Experience Investment Corp. Reuters reported last week that electric passenger aircraft developer Joby Aero Inc is exploring a deal to go public through a SPAC merger.

A SPAC is a shell company that raises funds in an initial public offering (IPO) with the aim of acquiring a private company, which then becomes public as result of the merger. For the company being acquired, the merger is an alternative way to go public over a traditional IPO.

SPACs emerged last year as one of the most popular investment vehicles on Wall Street.

New York-based Wheels Up was founded in 2013. The company offers a three-tier membership program with sign-on fees ranging from $2,995 to $29,500 that allows members to rent private planes. It also operates aircraft sales and management businesses.

The company was valued at $1.1 billion in its most recent private fundraising in 2019, and its investors include Delta Air Lines Inc and venture capital firm New Enterprise Associates (NEA).

Source: Reuters – Exclusive: Wheels Up in talks with SPAC to go public: sources