Tesla rival Lucid Motors to go public in $24-billion mega SPAC deal
Luxury electric vehicle maker Lucid Motors on Monday agreed to go public by merging with blank-check firm Churchill Capital IV Corp in a deal that valued the combined company at a pro-forma equity value of $24 billion. Lucid, run by an ex-Tesla engineer, is the latest firm to tap the initial public offering market, with […]
Electric Truck Maker Xos to Go Public via $2 Billion SPAC Deal
Xos, a maker of electric commercial vehicles, has agreed to go public through a merger with a blank-check company, NextGen Acquisition Corp., according to a statement viewed by Bloomberg News.The deal values the combined equity at $2 billion, the companies added. To support the transaction, the special purpose acquisition company will raise $220 million from […]
As the SPAC frenzy continues, questions arise about how much the market can absorb
Another week and the SPACs continues. Some industry watchers as starting to wonder: Is the party just getting started, with more early guests still trickling in? Have we reached the party’s peak, with the music still thumping? Or did someone just quietly barf in the corner, an indicator it’s time to wrap things up before […]
Warburg Pincus Files Two SPACs Seeking Combined $750 Million
Private equity firm Warburg Pincus filed to raise $750 million in initial public offerings by two new special purpose acquisition companies. Warburg Pincus Capital I-A is seeking to raise $250 million while Warburg Pincus Capital I-B is targeting $500 million, according to filings Wednesday with the U.S. Securities and Exchange Commission that confirmed an earlier […]
Arnault and Mustier join the $100bn Spac boom
France’s richest man Bernard Arnault is teaming up with former UniCredit boss Jean-Pierre Mustier to launch a special purpose acquisition company (SPAC) aimed at European financial deals, as a boom in blank cheque vehicles spreads from the United States. French investment firm Tikehau Capital is sponsoring the SPAC alongside Mustier, Financiere Agache, a group belonging […]
Arnault and Mustier join the $100bn Spac boom
LVMH founder and ex-UniCredit CEO launch vehicle to invest in European financial companies LVMH founder Bernard Arnault and former UniCredit chief Jean Pierre Mustier are creating a special purpose acquisition vehicle to invest in European financial companies, joining the $100bn Spac boom. The Spac will look to raise in the low hundreds of millions of […]
Former Goldman Asia Banker Hitchner Raises $360 Million for SPAC
The former head of Goldman Sachs Group Inc.’s Asia-Pacific unit outside Japan raised $360 million for a blank-check company targeting health-care deals in the region, adding to the wave of former bankers joining the investing craze. Ken Hitchner, who was chairman and chief executive officer of Goldman Sachs for the region, is teaming up with […]
Rocket Internet Co-Founder Files for $250 Million Tech SPAC
The management of German startup incubator Rocket Internet SE are creating a special-purpose acquisition vehicle that will look for a technology deal outside of the U.S. Rocket’s Chief Executive Officer and co-founder Oliver Samwer, board member Soheil Mirpour, and Donald Stalter, who managed North American investments for private equity firm GFC Global Founders Capital GmbH, […]
Blank-check boom prompts Michael Klein-backed SPAC to raise IPO size to $1 billion
A blank-check firm backed by veteran Wall Street dealmaker Michael Klein has raised its initial public offering size to $1 billion from $300 million, looking to tap into a roaring investor interest in new offerings. Churchill Capital Corp VII said it was looking to sell 100 million units priced at $10 each, up from its […]
InterPrivate Plans Three New SPACs Amid Blank-Check Bonanza
InterPrivate is seeking to raise at least $600 million for three new special purpose acquisition companies, according to a person with knowledge of the matter, underscoring the expectation that the appetite for new blank-check companies is unlikely to abate. The three vehicles, dubbed InterPrivate II, III and IV, will respectively seek out targets in technology; […]
