SPACs could stage a summer comeback

CNN Business2021-06-16

London (CNN Business) - Special-purpose acquisition companies, or SPACs, were one of the stock market's hottest trends in early 2021, drawing in billionaires, celebrities and athletes. Then, in early ...

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Comments

JR93
2021-06-16
JR93
SPACs without fundamental will be crash into ground one day
ZuYangKennet
2021-06-16
ZuYangKennet
??
GeoLegends
2021-06-16
GeoLegends
Yes pls
Baubausaur
2021-06-16
Baubausaur
Hmm
moliya
2021-06-16
moliya
Summer comebacks
Estada
2021-06-16
Estada
Still a risky one for retail investors
- KH17:
  Agreed

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Maxine Waters, the chair of the House Financial Services Committee, said at a hearing last month.\nBut SPACs could be coming back into vogue. Nine new SPACs raised $1.4 billion last week, according to Bill Smith of Renaissance Capital, making it the busiest week since March.\nMore data: It's clear there's been a marked slowdown. So far this quarter, just 50 new SPACs have listed globally, raising $10.9 billion, according to Dealogic data provided to CNN Business. That's compared to 304 listings that raised $98.4 billion between January and March.\nActivity could pick back up, however, as investors continue to hunt for creative places to park their money. According to a Bank of America survey published Tuesday, 18% of global fund managers say they are taking higher-than-normal risks, up 4 percentage points compared to the previous month.\nWatch this space: While there is still skepticism among some startups that merging with a SPAC is the best way to go public, there are firms willing to take this route instead of pursuing a traditional initial public offering.\nOn Monday, online grocery shop Boxed announced it was going public in an $887 million deal with a SPAC called Seven Oaks Acquisition Corp.\nAnd last week, Vertical Aerospace, a UK electric aircraft manufacturer, said it wouldgo publicby merging with the New York SPAC Broadstone Acquisition Corp., while the banking app Dave said it would merge with a SPAC sponsored by the investment firm Victory Park Capital.\nHedge fund billionaire Bill Ackman's SPAC is also said to be nearing a complex deal with Universal Music Group that would value the business at $40 billion.\nThe success of these arrangements may dictate whether other SPACs searching for companies to take public can do so with ease.So far this quarter, there have been 63 SPAC merger announcements globally, with deal value topping $140.6 billion, according to Dealogic. 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comebacks","listText":"Summer comebacks","text":"Summer comebacks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/169358379","repostId":1180909583,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":169321165,"gmtCreate":1623817794557,"gmtModify":1703820421828,"author":{"id":"3569638094156050","authorId":"3569638094156050","name":"Estada","avatar":"https://static.tigerbbs.com/035b646e17ea259fd1e75b59654ef1ff","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3569638094156050","authorIdStr":"3569638094156050"},"htmlText":"Still a risky one for retail investors","listText":"Still a risky one for retail investors","text":"Still a risky one for retail investors","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/169321165","repostId":1180909583,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4802970,"gmtCreate":1623820613954,"gmtModify":1663228992547,"authorId":3581725928308654,"author":{"id":3581725928308654,"idStr":"3581725928308654","authorId":3581725928308654,"name":"KH17","avatar":"https://community-static.tradeup.com/news/fca4709c9440c2051f34c45337436bca","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":169321165,"type":1,"supId":0,"prevId":0,"content":"Agreed","text":"Agreed","html":"Agreed"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":72,"commentSize":17,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like 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