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The Latest SPAC News and Rumors: June 2nd, 2021


The Latest SPAC News and Rumors: June 2nd, 2021

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

SoFi starts strong, Yieldstreet and Hydrow consider going public via SPAC


SoFi Jumps 12% in Nasdaq Debut After Palihapitiya SPAC Merger

Stock-trading platform SoFi Technologies Inc. jumped 12% in its Nasdaq debut after completing its merger with investor Chamath Palihapitiya’s blank-check company last week.

The shares, which trade under the ticker SOFI, rose to $22.65 Tuesday from $20.15 Friday, when it still traded under the SPAC ticker IPOE. This compares with an all-time high of $25.78 in February.


Hydrow Said to Explore Going Public at Over $1 Billion Valuation

Hydrow, maker of a $2,245 rowing machine, is exploring strategic options such as an IPO or merging with a SPAC, people with knowledge of the matter told Bloomberg.

The Cambridge, Massachusetts-based company is targeting a valuation of more than $1 billion and working with an adviser as it weighs options that also include raising fresh funding from private equity investors to fund domestic and international growth.


Yieldstreet Raises $100M As It Mulls Going Public Via SPAC

Alternative investment platform Yieldstreet announced Tuesday that it has raised $100 million in a Series C funding round which brings it to $278.5 million in total raised since its 2015 inception. Co-founder Milind Mehere shared that Yieldstreet is considering going public via a SPAC  sometime in the next year or two.