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Author: Nicholas Alan Clayton

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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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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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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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Longview Acquisition Corp. II (LGV) to Combine with HeartFlow in $2.4Bn Deal

Jul 15, 2021 INTEL by Nicholas Alan Clayton
Longview II (NYSE:LGV) has entered into a definitive agreement to combine with medtech firm HeartFlow at an enterprise value of $2.37 billion, or 11.6x its 2023E revenue. Redwood City, California-based HeartFlow provides tools for visualizing blood circulation around the heart, giving physicians insights into further treatment options. The combined company will trade on the NYSE
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SEC Charges Stable Road and Momentus Executives with Misinforming Public on Technology and Risks

Jul 13, 2021 INTEL by Nicholas Alan Clayton
Stable Road (NASDAQ:SRAC) and its troubled combination with space venture Momentus took another big hit today as the SEC announced charges against all parties in an afternoon press release. Stable Road, its sponsor, its CEO Brian Kabot and Momentus’ former CEO Mikhail Kokorich each individually face charges of misleading investors about the advancement of Momentus’
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CBRE Acquisition Holdings (CBAH) to combine with Altus Power in $1.6Bn Deal

Jul 13, 2021 INTEL by Nicholas Alan Clayton
CBRE Acquisition Holdings, Inc. (NYSE:CBAH) has entered into a definitive agreement to combine with renewable energy firm Altus Power at an enterprise value of $1.6 billion, or 14.3x its 2022E EBITDA. Greenwich, Connecticut-based Altus Power has built or acquired distributed generation solar facilities totaling about 265 megawatts (MW) and provides generation facilities for commercial, residential
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Ivanhoe Capital Acquisition Corp. (IVAN) to Combine with SES in a $2.6Bn Deal

Jul 13, 2021 INTEL by Nicholas Alan Clayton
Ivanhoe (NYSE:IVAN) has entered into a definitive agreement to combine with EV battery-maker SES at an enterprise value of $2.675 billion, or 5.5x its 2025E revenue. Singapore-based SES is developing a hybrid lithium-metal rechargeable battery for electric vehicles with full production expected to launch in 2025. The combined company is expected to trade on the
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Lionheart Acquisition Corp. II (LCAP) to Combine with MSP Recovery in $32.6Bn Deal

Jul 12, 2021 INTEL by Nicholas Alan Clayton
Lionheart II (NASDAQ:LCAP) has entered into a definitive agreement to combine with Medicare billing firm MSP Recovery at an enterprise value of $32.6 billion, or 10.5x its 2023E revenue. Coral Gables, Florida-based MSP has built a proprietary model for identifying and acquiring claims against primary care payers in the healthcare industry that unduly passed costs
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Far Peak Acquisition Corporation (FPAC) to Combine with Bullish in $2.5Bn Deal

Jul 9, 2021 INTEL by Nicholas Alan Clayton
Far Peak (NYSE:FPAC) has entered into a definitive agreement to combine with cryptocurrency exchange Bullish at an enterprise value of $2.5 billion and equity value of $9 billion. Bullish is launching a new crypto exchange with unique monetization structures aimed at avoiding hyper-volatility while rewarding users for parking assets there. The combined company is expected
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Healthcare Capital Corp. (HCCC) to Combine with Alpha Tau in $650M Deal

Jul 8, 2021 INTEL by Nicholas Alan Clayton
Healthcare Capital Corp. (NASDAQ:HCCC) has entered into a definitive agreement to combine with cancer drug developer Alpha Tau at an enterprise value of $650 million. Jerusalem-based Alpha Tau is developing unique cancer treatments that utilize alpha radiation to attack tumors with reduced damage to surrounding tissues and cells. The combined company is expected to trade
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Concord Acquisition Corp (CND) to Combine with Circle in $4.5Bn Deal

Jul 8, 2021 INTEL by Nicholas Alan Clayton
Concord (NYSE:CND) has entered into a definitive agreement to combine with cryptocurrency payments platform Circle at an enterprise value of $4.5 billion, or 12.8x its 2022E revenue. Boston-based Circle is a peer-to-peer cryptocurrency service managing the USDC coin and SeedInvest crowdinvesting platform. The combined company is expected to trade on the NYSE under the symbol
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Athena Technology Acquisition Corp. (ATHN) to Combine with Heliogen in $2Bn Deal

Jul 7, 2021 INTEL by Nicholas Alan Clayton
Athena Technology (NYSE:ATHN) has entered into a definitive agreement to combine with solar energy provider Heliogen at an enterprise value of $2 billion, or 11.4x its 2023E revenue. The Pasadena, California-based company aims to launch solar power plant design that provides flat, continuous power throughout the day. The combined entity is expected to trade on
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dMY Technology Group, Inc. IV (DMYQ) to Combine with Planet in $2.25Bn Deal

Jul 7, 2021 INTEL by Nicholas Alan Clayton
dMY IV (NYSE:DMYQ) has entered into a definitive agreement to combine with environmental data provider Planet at an enterprise value of $2.25 billion, or 17.3x its 2022E revenue. San Francisco-based Planet provides daily data and insights about Earth with a fleet of satellites capturing about 3 million images per day for clients in the agriculture,
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CF Acquisition Corp. V (CFV) to Combine with Satellogic in $850M Deal

Jul 6, 2021 INTEL by Nicholas Alan Clayton
CF V (NASDAQ:CFV) has entered into a definitive agreement to combine with orbital imagery company Satellogic at an enterprise value of $850 million, or 2.3x its 2024E revenue. Buenos Aires-based Satellogic provides orbital imagery and analysis services with 17 satellites in operation around the Earth. The deal is expected to close in the fourth quarter
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Khosla Ventures Acquisition Co. II (KVSB) to Combine with Nextdoor in $3.5Bn Deal

Jul 6, 2021 INTEL by Nicholas Alan Clayton
Khosla II (NASDAQ:KVSB) has entered into a definitive agreement to combine with neighborhood social media platform Nextdoor at an enterprise value of $3.5 billion, or 19.8x its 2021E revenue. San Francisco-based Nextdoor provides a social network for communities to connect with their fellow neighbors to share information on neighborhood events as well as concern about
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