Goldman Sachs sharpens push to win Asia SPAC market share
Goldman Sachs is aiming to snare a bigger share of the booming number of Special Purpose Acquisition Company (SPAC) deals in Asia by having senior bankers specifically target these blank cheque transactions across the region. The initiative was put in place towards the end of last year – but has not been reported – when […]
Why PE firms targeting tech buyouts could face competition from SPACs
Private equity has become a well-established path to liquidity for VC-backed startups, but a rebound in IPO activity and the rise of SPACs could mean more competition for deals. Notable examples include Platinum Equity-backed Cision’s $450 million purchase of Brandwatch from investors including Highland Europe and Nauta Capital, and Vista Equity Partners’ reported $1.1 billion […]
KORE to go public via $1.01 billion deal with Cerberus SPAC
KORE Wireless Group Inc has agreed to go public through a merger with a blank-check firm backed by private equity company Cerberus Capital Management, in a deal that values the combined entity at a pro-forma enterprise value of $1.01 billion. KORE said on Friday the deal with Cerberus Telecom Acquisition Corp will fetch the merged […]
Global SPAC deal volumes this year surpass total for 2020
Global blank-check deal volumes, or mergers through special purpose acquisition companies (SPACs), have surged to a record $170 billion this year, already outstripping last year’s total of $157 billion, Refinitiv data showed. The record number of deals comes as SPACs are emerging as a popular IPO alternative for companies, providing startups with a path to […]
Branson-backed SPAC to raise $500 million through U.S. IPO
A blank-check firm, backed by Virgin Group’s billionaire founder Richard Branson, is looking to raise as much as $500 million through an initial public offering, a regulatory filing showed on Tuesday Virgin Group Acquisition Corp III, a special purpose acquisition company, or SPAC, plans to sell 50 million units, composed of shares and warrants, priced […]
TPG-backed SPACs to raise more than $1 bln via IPOs
Three blank-check companies, backed by private equity firm TPG Capital, are looking to raise over $1 billion through initial public offerings, according to regulatory filings on Monday. The firms, TPG Pace Tech Opportunities II Corp, TPG Pace Beneficial II Corp and TPG Pace Solutions Corp, have filed to raise $450 million, $350 million and $250 […]
Former Apollo partner Beard preps $200 million energy SPAC
Greg Beard, a former senior partner at private equity company Apollo Global Management Inc, plans to raise $200 million in an IPO for a blank-check acquisition firm focused on the energy sector, according to people familiar with the matter. Beard’s special purpose acquisition company (SPAC) will file for an IPO with the U.S. Securities and […]
SPACs Look to India for Next Wave of Targets, Nomura Says
Blank-check companies are increasingly looking to India for acquisition targets, which will keep the country’s recent dealmaking streak going, according to Nomura Holdings Inc. ReNew Power last week agreed to merge with a U.S.-listed special purpose acquisition company in a deal that will give India’s biggest renewable power producer an enterprise value of $8 billion. […]
London to Join SPAC Boom in Post-Brexit Market Overhaul
The U.K. is set to allow blank-check firms to join its stock markets as part of wide-ranging reforms to boost the attractiveness of London after Brexit. Company founders will also be able to keep greater control when they list their businesses in the city, according to a state-backed report published late Tuesday. London Stock Exchange […]
One of India’s biggest renewable energy groups joins Spac craze
ReNew Power, one of India’s largest renewable energy groups, plans to go public in New York through an $8bn deal with a blank cheque company, as Wall Street’s Spac craze reaches one of Asia’s biggest economies. The energy company, which counts Goldman Sachs among its backers, will list on the Nasdaq in a deal with […]
