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Month: July 2021

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ECP Environmental Growth Opportunities Corp. (ENNV) to Combine with Fast Radius in $995M Deal

Jul 19, 2021 INTEL by Nicholas Alan Clayton
ECP (NASDAQ:ENNV) has entered into a definitive agreement to combine with digital supply chain firm Fast Radius at an enterprise value of $995 million, or 1.6x its 2025E revenue. Chicago-based Fast Radius provides on-demand manufacturing through micro-factories connected to a cloud-based software system. The combined company is expected to trade on the Nasdaq upon the
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Omnichannel Acquisition Corp. (OCA) to Combine with Kin Insurance in $1.03B Deal

Jul 19, 2021 INTEL by Marlena Haddad
Omnichannel Acquisition Corp. (NYSE:OCA) has entered into a definitive agreement to combine with insurance technology company Kin Insurance, Inc. at an enterprise value of $1.03 billion, or 15x its 2022E gross profit. Chicago-based Kin is a pure-play direct-to-consumer digital insurer for homeowners and allows customers to insure their home within just minutes. The combined company
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The Latest SPAC News and Rumors: July 19, 2021

Jul 19, 2021 INTEL by Marlena Haddad

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

Latest SPAC News: PropertyGuru nears merger with Bridgetown 2, and Rover booms following lifted COVID rules

PropertyGuru Is Said to Near $1.8 Billion Merger With Thiel SPAC

Singapore’s online real estate firm PropertyGuru Pte is nearing a deal to go public through a merger with Bridgetown 2 Holdings Ltd.

...READ MORE
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Investindustrial Acquisition Corp. (IIAC) to Combine with Ermenegildo Zegna Group in $3.2Bn Deal

Jul 19, 2021 INTEL by Nicholas Alan Clayton
Investindustrial (NYSE:IIAC) has entered into a definitive agreement to combine with Italian fashion group Zegna at an enterprise value of $3.2 billion, or 2.2x its 2021E revenue. The Milan-based company is comprised of its namesake luxury brand as well as Thom Browne, operating out of about 276 branded stores with about 6,050 employees. The combined
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Capstar Special Purpose Acquisition Corp. (CPSR) to Combine with Gelesis in $964M Deal

Jul 19, 2021 INTEL by Nicholas Alan Clayton
Capstar (NYSE:CPSR) has entered into a definitive agreement to combine with biotherapeutics firm Gelesis at an enterprise value of $964 million, or 5.6x its 2022E net sales. Boston-based Gelesis is advancing a series of therapies for weight management and chronic gut conditions with a consumer-facing approach. The combined company is expected to trade on the
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Pershing Square Tontine Holdings (PSTH) Nixes Universal Music Group Share Purchase

Jul 19, 2021 INTEL by Nicholas Alan Clayton
Pershing Square Tontine Holdings (NYSE:PSTH) announced in an early morning letter to shareholders that it was withdrawing its intended purchase of a 10% stake in Universal Music Group, which is slated to IPO later this year. The share purchase will instead be made by the SPAC’s sponsor, Pershing Square Holdings (LON:PSH), and the SPAC will
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Stable Road Acquisition Corp. (SRAC) Re-Strikes PIPE

Jul 16, 2021 INTEL by Kristi Marvin
Stable Road Acquisition Corp. (NASDAQ:SRAC), on the heels of a both a re-struck deal and a fine by the SEC, filed an 8-K this afternoon announcing it had also re-struck it’s PIPE with PIPE investors. The headline is that the previous PIPE amount of $175 million has been reduced to $110 million, but there are
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The Latest SPAC News and Rumors: July 16, 2021

Jul 16, 2021 INTEL by Marlena Haddad

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

Latest SPAC News: Vinod Khosla says SPACs are a great alternative for tech, and Apollo’s Rowan believes the SPAC ecosystem is here to stay, while Fed’s Powell says it makes the market feel ‘frothy’ 

SPACs Are Great Alternative for Tech: Vinod Khosla

Khosla Ventures co-founder Vinod Khosla discusses the continuing popularity of tech companies deciding to go public via SPACs including Berkshire Grey, warehouse automation company and Khosla Ventures investment recipient.

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Altimar Acquisition Corp. II (ATMR) to Combine with Fathom in $1.5Bn Deal

Jul 16, 2021 INTEL by Nicholas Alan Clayton
Altimar II (NYSE:ATMR) has entered into a definitive agreement to combine with on-demand manufacturing firm Fathom at an enterprise value of $1.49 billion, or 7.3x its 2022E revenue. The Hartland, Wisconsin-based company is one of the largest on-demand digital manufacturing platforms in North America with 450,000 square feet of manufacturing capacity across 12 facilities. The
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Pathfinder Acquisition Corporation (PFDR) to Combine with ServiceMax in $1.4Bn Deal

Jul 16, 2021 INTEL by Nicholas Alan Clayton
Pathfinder (NASDAQ:PFDR) has entered into a definitive agreement to combine with enterprise software firm ServiceMax at an enterprise value of $1.43 billion, or 9.2x its 2023E revenue. Peasanton, California-based ServiceMax provides cloud-based asset management and operational tools to industrial clients through a software-as-a-service model. The combined company is expected to trade on the NASDAQ under
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Spotlight: How SPACs Can Fight Cancer

Jul 16, 2021 INTEL by Nicholas Alan Clayton

Welcome to SPACInsider’s first Spotlight feature! In this series we will seek to illuminate a particular trend in SPACs that deserves a greater focus. This week, we will be looking at Chamath Palihapitya’s second biotech SPAC, Social Capital Suvretta II (NYSE:DNAB) and the oncology market, with research compiled by SPACInsider contributor Anthony Sozzi.

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Decarbonization Plus Acquisition Corp. (DCRB) Shareholders Approve Hyzon Deal

Jul 15, 2021 INTEL by Marlena Haddad

Decarbonization Plus Acquisition Corp.  (NASDAQ:DCRB) announced in a press release today that its shareholders approved its combination with hydrogen vehicle-maker Hyzon Motors Inc. in a meeting held earlier this morning.

Approximately 95% of the votes cast on the business combination proposal at the meeting were in favor of the transaction with only 2,089,323 shares opting to redeem at $10.00 per share.

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Reinvent Technology Partners Y (RTPY) to Combine with Aurora in $10.5Bn Deal

Jul 15, 2021 INTEL by Nicholas Alan Clayton
Reinvent Y (NASDAQ:RTPY) has entered into a definitive agreement to combine with autonomous vehicle company Aurora at an enterprise value of $10.5 billion, or 5.3x its 2027E revenue. Aurora is developing driverless-car technology for use in both the logistics and taxi markets with its first roll-outs slated for 2023. The combined company is expected to
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