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Author: Marlena Haddad

RUMORS

Friday Rumor Roundup: SPACs Dreaming a Little Bigger

May 7, 2021 INTEL by Marlena Haddad
SPAC deal activity appears to be picking up after an April lull with a triple-announcement Friday and more transactions in the chatter. We’re all trying to get our summer bods ready in time, and at least one SPAC may be jumping right into the gym with us. Equinox Luxury gym operator Equinox is reportedly in
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IPO-Pricing

ACON S2 Acquisition Corp. (STWO) to Combine with ESS Tech in $1.1Bn Deal

May 7, 2021 INTEL by Marlena Haddad
ACON S2 Acquisition Corp. (STWO) has entered into a definitive agreement to combine with battery manufacturer firm ESS Tech at an enterprise value of $1.072Bn, or 0.7x its 2025E Revenue. California-based ESS Tech produces energy storage solutions based on iron, salt, and water as opposed to the typical hazardous materials like lithium. The combined company
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IPO-Pricing
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Stable Road Acquisition Corp. (SRAC) Adjourns Shareholder Vote Without Extension

May 6, 2021 INTEL by Marlena Haddad
Stable Road Acquisition Corp. (NASDAQ:SRAC), which previously announced a combination with commercial space company Momentus, held a virtual meeting earlier today to extend its transaction deadline where it adjourned due to insufficient votes. The new meeting is May 13, 2021, giving Stable Road one week to find to find the requisite votes. The SPAC has
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Amplitude Healthcare Acquisition Corporation (AMHC) to Combine with Jasper Therapeutics in $290M Deal

May 6, 2021 INTEL by Marlena Haddad
Amplitude Healthcare (NASDAQ:AMHC) has entered into a definitive agreement to combine with hematopoietic cell transplant firm Jasper Therapeutics at an enterprise value of $290 million. Biotechnology firm Jasper is working to cure several life threatening diseases such as blood cancers, sickle cell, and autoimmune disorders in underserved patients including infants, women, and minorities. The Palo-Alto
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IPO-Pricing

CF Finance Acquisition Corp III (CFAC) Revises AEye Deal, Slashing Valuation From $1.9Bn to $1.52Bn

May 3, 2021 INTEL by Marlena Haddad
CF Finance III (NASDAQ:CFAC) amended its merger agreement with lidar-maker AEye today due to recent valuation changes of publicly traded lidar companies and changing conditions in the automotive lidar industry. Under the amended merger agreement, AEye’s valuation was lowered approximately by 20%, from $1.9Bn to $1.5Bn. Cantor Fitzgerald-sponsored CF Finance III has also deposited an
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RUMORS

Friday Rumor Roundup: SPACs’ European Vacation

Apr 30, 2021 INTEL by Marlena Haddad
Regulators have generated a fair amount of the buzz in recent weeks, as watchdogs in multiple countries consider tightening and loosening screws. But, the birds are chirping and spring winds continue to be scented with whiffs of deals in the air. Here’s a selection of what we sniffed this week: Plus Autonomous truck startup Plus
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Gores Metropoulos II (GMII) to Combine with Sonder Holdings in $2.2Bn Deal

Apr 30, 2021 INTEL by Marlena Haddad
Gores Metropoulos II, Inc. (NASDAQ:GMII) has entered into a definitive agreement to combine with next-generation hospitality firm Sonder Holdings at an enterprise value of $2.2 billion, or 3.6x its 2022E revenue. Lodging startup Sonder is working to redefine the guest experienced by transforming apartments and hotel rooms into short term rentals with a modern touch.
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IPO-Pricing

Marquee Raine (MRAC) to Combine with Enjoy in $1.2Bn Deal

Apr 28, 2021 INTEL by Marlena Haddad
Marquee Raine (NASDAQ:MRAC) has entered into a definitive agreement to combine with technology-powered service platform Enjoy Technology Inc. at an enterprise value of approximately $1.2 billion, or 4.8x the estimated 2022 revenues. Enjoy offers “commerce at home” by hand-delivering consumer orders and configuring electronic devices in the comfort of their own home. The combined company
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news update

EV Targets Announce Strategic Partnerships

Apr 27, 2021 INTEL by Marlena Haddad
Over the past several quarters, automotive tech firms generated a great deal of excitement as they attempted to disrupt the industry via SPACs, but have since had a rough ride with a down market across the SPAC space. Pre-revenue SPAC targets have also been the subject of some open-air critiquing by the SEC for trumpeting
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