Author: Eric Weidemann

spacs on sale

SPACs on Sale: SPACs Below NAV Now the Majority

SPACs on Sale SPAC new issuance has ground to a halt with the change in accounting treatment of warrants and inquiry into SPAC merger projections initiated by the SEC. Alongside this, the market has also cooled and term changes for new SPACs have been slightly negative to flat as many teams would rather wait out
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D8 Holdings Corp. (DEH) to Combine with Vicarious Surgical in $1.1Bn Deal

D8 Holdings Corp. (NYSE: DEH) announced this morning that it will combine with surgical robot company Vicarious Surgical, Inc. at a proforma enterprise value of $1.119 billion, or 3.1x 2025 Revenue. Founded in 2014, Charleston, Massachusetts based Vicarious is a next generation robotics company developing a technology with the goal of increasing the efficiency of
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CM Life Sciences II (CMIIU) to Combine with SomaLogic in $1.23Bn Deal

CM Life Sciences II (NASDAQ:CMIIU) announced this morning that it will combine with proteomics firm SomaLogic at an enterprise value of $1.23 billion, or 14.6x its 2022E revenue. SomaLogic provides a technology platform for use both in proteomics research and medical diagnostics. The deal is expected to close in the third quarter, with SomaLogic trading
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spacs on sale

SPACs on Sale: Many Trading Below Trust Value

Getting into the 4th week of the most recent SPAC selloff, there are now quite a few searching and announced SPACs that are trading marginally above or even under trust value. Trading under trust value means that an investor could purchase the share prior to a shareholder vote and have the ability to redeem for
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SPACDex
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Empower Ltd. (EMPW) to Combine with Holley in $1.64Bn Deal

Empower Ltd. (NYSE: EMPW) announced this morning that it will combine with auto-systems company Holley at a proforma enterprise value of $1.64 billion, or 10.3x 2021 EBITDA. Founded more than 115 years ago, Bowling Green KY based Holley makes and sells parts, including fuel-injection systems, carburetors, engine products and exhaust systems, for high-performance cars. It
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Reinvent Technology Partners (RTP) to Combine with Joby Aviation in $4.6Bn Deal

Reinvent Technology Partners (NYSE: RTP) announced this morning that it had entered into a definitive agreement to combine with electric vertical takeoff and landing (“eVTOL”) company Joby Aviation at an enterprise value of $4.629 billion, which is 2.3x EV/2026E Revenue. Founded in 2009, Santa Cruz, CA based Joby Aviation is a transportation company developing an all-electric
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Osprey Technology Acquisition Corp. (SFTW) to Combine with BlackSky in $1.1Bn Deal

Osprey Technology Acquisition Corp. (“SFTW”) announced this morning that it had entered into a definitive agreement to combine with satellite imaging company BlackSky Holdings, Inc. (“BlackSky”) at an enterprise value of $1.106 billion. Founded in 2014, Herndon V.A. based BlackSky is a a real-time Earth observation company leveraging the innovative performance and economics of small
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Alpha Healthcare Acquisition Corp. (AHAC) to Combine with Humacyte in $849Mn Deal

Alpha Healthcare Acquisition Corp. (“AHAC”) announced this morning that it had entered into a definitive agreement to combine with biotech company Humacyte, Inc. (“Humacyte”) at an enterprise value of $849 million. Durham N.C. based Humacyte is a a clinical-stage biotechnology platform company developing universally implantable bioengineered human tissue at commercial scale. The combined company is
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FG New America (FGNA) to Combine with OppFi in $900Mn Deal

FG New America Acquisition Corp. (FGNA) announced this morning that it had entered into a definitive agreement to combine with fintech lender Opportunity Financial (OppFi) at an enterprise value of $909 million. Chicago-based OppFi provides short-term credit to underbanked borrowers, having processed about 1.5 million loans to about 594,000 customers to date. The combined company
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CM Life Sciences (CMLF) to Combine with Sema4 in $2.1Bn Deal

CM Life Sciences (CMLF) announced this morning that it had entered into a definitive business combination agreement with Sema4, an AI and machine learning-driven patient-centered genomic and clinical data intelligence company. Founded in 2016, Sema4 is dedicated to transforming healthcare by building dynamic models of human health and defining optimal, individualized health trajectories, starting in
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Dragoneer Growth Opportunities Corp. (DGNR) to Combine with CCC Information Services in $7Bn Deal

Dragoneer Growth Opportunities Corp. (DGNR) announced this morning that it had entered into a definitive business combination agreement with CCC Information Services Inc., a leading SaaS platform for the property and casualty (“P&C”) insurance economy. Founded in 1980, CCC’s solutions and big data insights are delivered through the CCC ONE® platform to a network of 300+
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Andina Acquisition Corp. III (ANDA) to Combine with Stryve Foods in $170Mn Deal

Andina Acquisition Corp. III (ANDA) announced this morning that it had entered into a definitive business combination agreement with Stryve Foods, an emerging healthy snacking platform. Stryve’s flagship Beef Biltong product is a high protein meat snack with 0g sugar. Stryve products are available through their website, Amazon, and over 17,000 retail stores across the U.S.
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RUMORS

VG Acquisition Corp. (VGAC) in Talks with 23andMe

VG Acquisition Corp. (NYSE: VGAC) is reportedly in talks to merge with DNA-testing company 23andMe Inc. and take it public, according to Bloomberg. The deal would be valued at roughly $4 billion and could be announced in the coming weeks if talks are successful. Co-Founded by Linda Avey and Anne Wojcicki in 2006, 23andme sells
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RUMORS

Falcon Capital Acquisition Corporation (FCAC) in Talks with Sharecare

Falcon Capital Acquisition Corporation (NASDAQ: FCAC) is reportedly in talks to merge with digital health startup Sharecare Inc. and take it public, according to Reuters. Under the terms of the proposed deal, Sharecare would buy Palo-Alto-based healthcare artificial intelligence startup Doc.ai and then merge with FCAC. The deal would value the combined entity at close
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RUMORS

Social Capital Hedosophia V (IPOE) Reportedly Near a Deal with SoFi

Social Capital Hedosophia V (NYSE: IPOE) is reportedly near a deal with Social Finance Inc (SoFi) to take SoFi public, according to Reuters. The deal would value SoFi at more than $6 billion and could be announced in the coming days. Founded in 2011, SoFi is an online first personal finance company offering services in
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BLUE OWL

Altimar (ATAC) to Combine with Owl Rock and Dyal in $12.7Bn Deal

Altimar Acquisition Corporation (ATAC) announced this morning that it had entered into a definitive business combination agreement with Owl Rock Capital Group and the Dyal Capital Partners division of Neuberger Berman Group LLC to form Blue Owl Capital Inc., an alternative asset management firm with over $45.0 billion in assets under management. Founded in 2015,
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Juniper Industrial Holdings (JIH) to Combine with Janus International in $1.9Bn Deal

Juniper Industrial Holdings, Inc. (JIH) announced this morning that it had entered into a definitive agreement to acquire Janus International from Clearlake Capital Group, L.P., a private equity fund with $25 billion AUM. Janus International is a global manufacturer and supplier of turn-key self-storage, commercial and industrial building solutions, including: roll up and swing doors, hallway
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