Special Purpose Acquisition Company (SPAC)

Investing Highlights (and Lowlights) of 2021

Frank Holmes | |

Any way you look at it, 2021 was an eventful year—from a new president to new virus variants to new all-time highs for Bitcoin and the S&P 500 (70 record closes!). We even saw the rise of a whole new asset class: non-fungible tokens, or NFTs, with annual trading volume between $22 billion and $24 billion in 2021, up from only $100 million in 2020.

Mark Cuban and NEA-Backed FiscalNote To Go Public Via SPAC Merger

Kimberly Redmond | |

DC-based legal and regulatory software tracking technology company FiscalNote Holdings Inc will go public via a merger with a special purpose acquisition company Duddell Street Acquisition Corp in a deal valued at about $1.3 billion.

Under the agreement announced this week, the Maso Capital-backed SPAC will provide FiscalNote with proceeds of $275 million, consisting of a $100 million private placement and about $175 million currently held in trust by Duddell Street.

Forbes To Go Public Via Merger With Magnum Opus Acquisition Ltd

Kimberly Redmond | |

Forbes Global Media Holdings, one of the oldest media outlets in the US, announced Thursday it will go public through a merger with special purpose acquisition company Magnum Opus Acquisition Ltd (NYSE: OPA) in a deal that values the combined entity at $630 million.

The deal, which is expected to raise $600 million in gross proceeds for the media company, includes a private placement of $400 million.

Global M&A Deal Value Hits $3.6 Trillion in 2021, Already Eclipsing 2020

Reuters | |

Global merger and acquisition (M&A) activity has breached new highs, building on the record-breaking dealmaking streak from the beginning of the year that has been aided by low interest rates and soaring stock prices.

According to Refinitiv data, the total value of pending and completed deals announced in 2021 has already touched $3.6 trillion year-to-date, surpassing the full-year tally of $3.59 trillion in 2020.

Vacation Rental Company Vacasa To Go Public Via SPAC Merger at $4.5 Billion Valuation

Kimberly Redmond | |

Vacation rental startup Vacasa will go public through a merger with TPG Pace Solutions Corp, a special purpose acquisition company, in a deal that values the entity at $4.5 billion.

The transaction announced Thursday will provide the Portland, Oregon-based Vacasa with $485 million in gross cash proceeds to help fund future growth.

Electric Vehicle Charging Company Allego To Go Public Via SPAC Merger

Kimberly Redmond | |

European electric vehicle charging company Allego Holding will go public via a merger with Spartan Acquisition Corp III, a special purpose acquisition company (SPAC) backed by private equity giant Apollo Global Management Inc.

The deal, announced Wednesday, values Allego at $3.14 billion. The transaction will generate $702 million in proceeds, including $150 million from a private placement.

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