The week could also be winding down, but it surely looks like SPAC merger information continues to warmth up.
In reality, this week introduced main strikes in additional than ten particular objective acquisition corporations. For traders much less accustomed to this world, SPACs are public corporations that merge with personal corporations. Basically, SPACs assist personal companies keep away from the IPO course of. Importantly, following the pandemic selloff in March, traders have had an enormous urge for food for brand spanking new choices. Which means SPAC mergers have dominated the market.
This week was no totally different. Dive into the newest information with InvestorPlace under:
No. 1: Virgin Orbit SPAC Merger Information
SPAC: VG Acquisition (NASDAQ:VGAC)
Personal Firm: Virgin Orbit
Sir Richard Branson is taking the blank-check firm craze to area… or a minimum of traders hope he’s. His VG Acquisition has been within the highlight recently due to a newfound curiosity in area exploration. Basically, many hope that he’ll use VGAC inventory to carry an area firm public. And to be honest, such a transfer would make sense. Branson is behind area pure play Virgin Galactic (NYSE:SPCE) and different personal corporations like Virgin Orbit and Virgin Hyperloop.
So what ought to traders know? For proper now, there isn’t a set merger goal for VGAC. Nonetheless, Branson did say earlier this week that he was contemplating the SPAC route for Virgin Orbit. If extra information materializes, make certain VGAC inventory is in your radar.
No. 2: AppHarvest SPAC Merger Information
SPAC: Novus Capital (NASDAQ:NOVS)
Personal Firm: AppHarvest
For a lot of traders, AppHarvest might stand out of the SPAC crowd. That’s as a result of as an alternative of specializing in a high-tech pattern, AppHarvest needs to rethink agriculture. Basically, the corporate specializes on indoor farming options for tomatoes and different produce.
So what had NOVS inventory hovering forward of the AppHarvest SPAC merger? Nicely, earlier this week, the corporate introduced that it had hit a brand new milestone. Importantly, it accomplished its first harvest of Beefsteak tomatoes and was getting ready to ship them to shops throughout the nation. Much more importantly is the truth that Walmart (NYSE:WMT) and Kroger (NYSE:KR) had been a few of these recipient shops.
No. 3: Queen’s Gambit SPAC Merger Information
SPAC: Queen’s Gambit (NASDAQ:GMBT)
Personal Firm: Unknown
You’ll discover that that is additionally some totally different SPAC information. Queen’s Gambit is a brand new particular objective acquisition firm that simply filed to return public. What makes it stand out is its management workforce. In contrast to many blank-check corporations earlier than it, all girls lead the GMBT employees.
We have no idea a lot in regards to the SPAC at this level, besides that it’s going to seemingly please those that prioritize environmental, social and governance investing. Nonetheless, we do know that GMBT needs to give attention to sustainable improvement and development. Look forward to the IPO, after which preserve GMBT inventory in your radar.
No. 4: Payoneer SPAC Merger Information
SPAC: Ftac Olympus Acquisition (NASDAQ:FTOC)
Personal Firm: Payoneer
Need some speculative SPAC merger information? Look no additional than Payoneer and Ftac Olympus Acquisition. In response to the rumors, Ftac is in talks to take Payoneer public, resulting in a rally in FTOC shares earlier this week.
So what ought to you realize about Payoneer? Proper now, there isn’t a merger mixture. Nonetheless, such a deal can be fairly thrilling as a result of Payoneer is a fintech play. Extra particularly, it gives fee processing options.
No. 5: REE Auto SPAC Merger Information
SPAC: Burgundy Know-how Acquisition (NASDAQ:BTAQ)
Personal Firm: Unknown
Let me begin by including some clarification. Proper now, we actually have no idea the acquisition goal of Burgundy Know-how. Nonetheless, social media customers are fairly positive they’ve narrowed down the record. That’s as a result of there are two information about BTAQ inventory that make it stand out. The primary is that the corporate needs to carry a tech play public. The second is that it needs to give attention to an Israeli agency. Placing two and two collectively, REE Auto and eToro are the highest guesses.
Earlier this week, traders had been hoping for affirmation of a REE Auto SPAC merger. That’s as a result of many see REE Auto as a competitor to Canoo (NASDAQ:GOEV), a well-liked EV startup. REE Auto would supply one other alternative to money in on that craze.
No. 6: Hims & Hers SPAC Merger Information
This week marked the ending of a SPAC period and the beginning of life within the public markets for one firm. That agency? Telehealth play Hims & Hers. HIMS inventory began buying and selling this week on the New York Inventory Trade, ushering in hope for its potential to 1 dominate Teladoc (NYSE:TDOC).
So what ought to traders know? Hims & Hers is an fascinating firm that occupies a singular place within the telehealth market. It caters to males, girls and kids, and it additionally provides specialised providers like behavioral psychology and dermatology. Though it should develop to actually rival Teladoc by way of telehealth consultations per 12 months, loads of hope is on the road. Particularly with Covid-19 catalysts, HIMS inventory is one to observe.
No. 7: Joby Aviation SPAC Merger Information
Personal Firm: Joby Aviation
Transfer over Blade City Air Mobility, one other disruptive transportation firm is seeking to come public through a particular objective acquisition firm. In response to a Reuters report, Joby Aviation has employed funding banks to solicit provides from SPACs.
However what precisely is Joby Aviation all about? The corporate plans to supply ride-hailing providers… besides it needs to supply these providers through all-electric flying taxis. One different factor to observe is that Joby lately acquired the flying taxi property from Uber (NYSE:UBER). Joby is eyeing a launch date in 2023, however the firm is one to begin watching now.
No. 8: Lucid Motors SPAC Merger Information
SPAC: Churchill Capital IV (NYSE:CCIV)
Personal Firm: Lucid Motors
Lucid Motors SPAC merger hopes have traders on edge this week. The most recent information comes from the Los Angeles Occasions, which reported this morning that a deal is on the way. Nonetheless, Michael Klein and his Churchill Capital IV haven’t mentioned a phrase in regards to the merger. In reality, Klein mentioned earlier this week that his blank-check firm was contemplating a wide range of acquisition targets.
So what else do traders have to know? There’s loads of danger and loads of hypothesis right here. Nonetheless, if a deal comes by, there may be additionally loads of potential. That’s as a result of many individuals see Lucid Motors as a real rival to Tesla (NASDAQ:TSLA) within the luxurious area.
No. 9: EVgo SPAC Merger Information
SPAC: Local weather Change Disaster Actual Impression I Acquisition Company (NYSE:CLII)
Personal Firm: EVgo
Fortunately for traders, Wall Avenue obtained a little bit little bit of SPAC affirmation within the electrical automobile area. In reality, we realized this morning that EVgo will probably be coming public.
What stands out about this information? EVgo is definitely the most important electrical automobile charging firm in america, with greater than 800 places. Which means that it offers traders an outsized alternative to money in on a pattern — and it makes CLII inventory look reasonably fascinating right here. Preserve this one in your radar, too.
No. 9: Liberty Media SPAC Merger Information
SPAC: Liberty Media Acquisition Company (NASDAQ:LMACU)
Personal Firm: Unknown
Final however not least on the record of SPAC merger information this week is Liberty Media Acquisition. Launched by billionaire John Malone, the brand new blank-check firm plans to carry a media or leisure enterprise to the general public markets. And importantly, LMACU inventory simply began buying and selling.
However why do Malone and his Liberty Media make LMACU inventory so interesting? Nicely, Malone instructions fairly an empire. His enterprise is break up up into three components: Liberty Media Components One (NASDAQ:FWONA, NASDAQ:FWONK), Liberty Sirius XM (NASDAQ:LSXMA, NASDAQ:LSXMK), and Liberty Braves (NASDAQ:BATRA, NASDAQ:BATRK).
On the date of publication, Sarah Smith didn’t have (both straight or not directly) any positions within the securities talked about on this article.
Sarah Smith is a Net Content material Producer for InvestorPlace.com.