Top 3 SPAC Targets – AdTech

Aug 6, 2021 INTEL by Nicholas Alan Clayton

SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets in adtech. We look at why they are compelling and why each could be a fit for a blank-check merger.

Q&A with AdTheorent CEO Jim Lawson on the Changing Adtech Space

Aug 5, 2021 INTEL by Nicholas Alan Clayton

MCAP Acquisition Corporation (NASDAQ:MACQ) announced a $775 million deal with adtech firm AdTheorent on July 27, bringing SPACs further into the rapidly changing digital advertising space.

Earlier this year, SPAC transactions brought open internet ad manager Taboola (NASDAQ:TBLA) and mobile app monetization platform ironsource (NYSE:IS) to the public markets.

Growth Capital Acquisition Corp. (GCAC) to Combine with Cepton Technologies in $1.5Bn Deal

Aug 5, 2021 INTEL by Nicholas Alan Clayton

Growth Capital (NASDAQ:GCAC) has entered into a definitive agreement to combine with lidar-maker Cepton at an enterprise value of about $1.5 billion, or 1.8x its 2025E revenue. San Jose, California-based Cepton is developing lidar arrays for autonomous driving and applications in smart cities and industrial settings. The combined company is expected to trade on the
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FTAC Athena Acquisition Corp. (FTAA) to Combine with Pico in $1.4Bn Deal

Aug 4, 2021 INTEL by Nicholas Alan Clayton

FTAC Athena (NASDAQ:FTAA) has entered into a definitive agreement to combine with fintech firm Pico at an enterprise value of $1.4 billion, or 7.2x its 2021E revenue. New York City-based Pico provides high-speed financial markets data and analysis to institutions across the globe from exchanges in 20 cities. The combined company is expected to trade
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Blue Whale Acquisition Corp. I (BWCAU) Prices $200M IPO

Aug 4, 2021 IPOs by Nicholas Alan Clayton

Blue Whale Acquisition Corp. I announced the pricing of its $200 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “BWCAU”, Wednesday, August 4.

Yellowstone Acquisition Company (YSAC) to Combine with Sky Harbour in $777M Deal

Aug 2, 2021 INTEL by Nicholas Alan Clayton

Yellowstone (NASDAQ:YSAC) has entered into a definitive agreement to combine with airport hanger manager Sky Harbour for a $777 million pro forma equity value. West Harrison, New York-based Sky Harbour develops and leases aviation infrastructure facilities across the US, with scaled up comfort features as compared to community hangars. The combined company is expected to
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Spotlight: Warrantless and Organ-Centric Biotech

Jul 30, 2021 INTEL by Nicholas Alan Clayton

Welcome to SPACInsider’s Spotlight series! With this, we will seek to illuminate a particular trend in SPACs that deserves a greater focus. This week, we will be continuing to look at Chamath Palihapitya’s biotech SPACs.

TPG Pace Solutions Corp. (TPGS) to Combine with Vacasa in $3.7Bn Deal

Jul 29, 2021 INTEL by Nicholas Alan Clayton

TPG Pace Solutions (NYSE:TPGS) has entered into a definitive agreement to combine with vacation rental management platform Vacasa at an enterprise value of $3.747 billion, or 3.7x its 2022E revenue. Portland, Oregon-based Vacasa helps homeowners manage vacation properties and book them out to renters through its own site as well as channel partners like Airbnb
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Atlas Crest Investment Corp (ACIC) Re-Strikes Deal with Archer

Jul 29, 2021 INTEL by Nicholas Alan Clayton

Atlas Crest (NYSE:ACIC) announced this morning that it had revised its deal with electric vertical take-off and landing (eVTOL) aircraft-maker Archer, dropping its enterprise value from $2.7 billion to $1.7 billion. This makes for a 38% drop in valuation for Archer, which was the first in a series of eVTOL-makers to strike deals with SPACs
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Queen’s Gambit Growth Capital (GMBT) to Combine with Swvl in $1.1Bn Deal

Jul 28, 2021 INTEL by Nicholas Alan Clayton

Queen’s Gambit (NASDAQ:GMBT) has entered into a definitive combination agreement with mobility tech firm Swvl at an enterprise value of $1.1 billion, or 2.8x its 2023E gross revenue. Dubai-based Swvl operates a shared ride-hailing service using minibuses as an urban transport solution as well as a B2B service. The combined company is expected to trade
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Spartan Acquisition Corp. III (SPAQ) to Combine with Allego in $2.6Bn Deal

Jul 28, 2021 INTEL by Nicholas Alan Clayton

Spartan III (NYSE:SPAQ) has entered into a definitive agreement to combine with Dutch electric vehicle (EV) charging company Allego at an enterprise value of $2.65 billion, or 12.3x its 2021E revenue. Arnhem, Netherlands-based Allego operates about 26,000 EV charging stations, including ultra-fast charging rigs, across 12 European countries. The combined company is expected to trade
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MCAP Acquisition Corporation (MACQ) to Combine with AdTheorent in $775M Deal

Jul 27, 2021 INTEL by Nicholas Alan Clayton

MCAP (NASDAQ:MACQ) has entered into a definitive agreement to combine with digital advertising firm AdTheorent at an enterprise value of $775 million, or 21.2x its 2022E EBITDA. New York-based AdTheorent provides a digital ad platform for online and smart TV ad space that uses machine-learning tools rather than cookies to target users. The combined company
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Bridgetown 2 Holdings Limited (BTNB) to Combine with PropertyGuru in $1.35Bn Deal

Jul 23, 2021 INTEL by Nicholas Alan Clayton

Bridgetown 2 (NASDAQ:BTNB) has entered into a definitive agreement to combine with Asian proptech firm PropertyGuru at an enterprise value of $1.35 billion, or 17.8x its 2021E revenue. Kuala Lumpur-based PropertyGuru runs a series of rental and homebuying marketplaces throughout Southeast Asia, hosting more than 2.8 million real estate listings. The combined company is expected
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Dragoneer Growth Opportunities Corp. II (DGNS) to Combine with Cvent in $5.3Bn Deal

Jul 23, 2021 INTEL by Nicholas Alan Clayton

Dragoneer II (NASDAQ:DGNS) has entered into a definitive agreement to combine with event technology provider Cvent at an enterprise value of $5.3 billion, or 10.4x its 2021E revenue. Tysons, Virginia-based Cvent provides a subscription-based event-booking platform for corporate clients, providing a range of services for in-person, virtual or hybrid summits. The combined company is expected
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Top 3 SPAC Targets – Post-Pandemic Apparel

Jul 23, 2021 INTEL by Nicholas Alan Clayton

SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets in apparel. We look at why they are compelling and why each could be a fit for a blank-check merger.

Clover Health (CLOV) Calls for Redemption of Warrants

Jul 22, 2021 INTEL by Nicholas Alan Clayton

Clover Health (NASDAQ:CLOV) announced that it will redeem all outstanding warrants at a price of $0.10 per Warrant at 5 pm EST, August 23, and the Warrants may be exercised by the holders until 5:00 p.m. New York City time on the Redemption Date to purchase the Common Stock underlying the Warrants on a cash
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Power & Digital Infrastructure Acquisition Corp. (XPDI) to Combine with Core Scientific in $4.3Bn Deal

Jul 21, 2021 INTEL by Nicholas Alan Clayton

Power & Digital (NASDAQ:XPDI) has entered into a definitive agreement to combine with blockchain hosting and crypto mining firm Core Scientific at an enterprise value of $4.3 billion, or 8.8x its 2021E revenue. Bellevue, Washington-based Core Scientific hosts blockchain infrastructure through its own server network, which it also uses to mine Bitcoin and host outsourced
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Tailwind Acquisition Corp. (TWND) Adjourns Shareholder Vote Until July 30

Jul 20, 2021 INTEL by Nicholas Alan Clayton

Tailwind Acquisition Corp. (NYSE:TWND) announced that it has adjourned its special meeting held this morning without a final vote to approve its combination with QOMPLX, and will now reconvene on July 30. The press release did not make mention of any movement in the SPAC’s redemption deadline, but in the past SPACs have used adjournments
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Velocity Acquisition Corp. (VELO) to Combine with BBQGuys in a $839M Deal

Jul 20, 2021 INTEL by Nicholas Alan Clayton

Velocity (NASDAQ:VELO) has entered into a definitive agreement to combine with outdoor living ecommerce platform BBQGuys at an enterprise value of $839 million, or 17x its 2022E EBITDA. BBQGuys is a e-retailer of higher-end grills, accessories and backyard products for homeowners and professional builders. The combined company is expected to trade on the Nasdaq under
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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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Author: Nicholas Alan Clayton