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PSPC has been one of the hottest stories to invest in 2020 and appears to be a major theme in 2021, with hundreds of potential deals that could be announced.
Benzinga hosts the live show SPACs Attack, which airs Monday through Friday at 11 a.m. ET. On Wednesday, co-hosts Chris Katje and Mitch Hoch shared their best SPACs which are trading between $ 10 and $ 11.
Chris’ choices: Acquisition of RedBall (NASDAQ: RBAC) has been linked with the merger with Fenway Sports Group. A deal would give investors another publicly traded sports team. Fenway Sports Group owns the Boston Red Sox of the MLB and the Liverpool Football Club of the English Premier League.
Both teams have strong brand awareness and could attract investment from fans. Another catalyst mentioned was media rights. A new agreement with Fox corp (NASDAQ: FOX) kicks off for MLB in 2022, and the EPL is also negotiating new deals. Fenway Sports Group is also the majority owner of a local sports media company that broadcasts Red Sox games.
Acquisition of Falcon Capital (NASDAQ: FCAC) targets a company in the media or consumer technology industry. The team behind SPAC includes Jeff Sagansky. The pick here follows Sagansky, who is part of the team that made deals for DraftKings Inc (NASDAQ: DKNG) and Skillz Inc (NASDAQ: SKLZ).
The team behind Hyliion Holdings (NASDAQ: HYLN) has a second SPAC which might be a good choice below $ 11. Tortoise Acquisition Corp II (NASDAQ: SNPR) targets the area of sustainability. The history of the Hyliion deal could make this SPAC attractive to a target company. Hyliion shares were trading above $ 50 and were one of the best performing PSPCs at the start of 2020.
Lefteris Acquisition Corp (NASDAQ: LFTR) targets the fintech industry. With rumors of companies like Sofi, eToro and others going public, fintech could be a host sector to watch in 2021. The PSPC leadership team has a history with ETrade, Coinbase and TD Ameritrade.
Burgundy technology (NASDAQ: BTAQ) is a company targeting enterprise technology or software. The management team includes Leo Apotheker, the former CEO of Hewlett-Packard (NASDAQ: HPE) and SAP SE (NASDAQ: SAP). Apotheker has spent over 20 years at SAP and has helped transform the business from a single product to a multi-solution business.
Co-CEO Jim Mackey has spent years at Citigroup, SAP, OpenText and Blackberry (NASDAQ: BB). At Blackberry, Mackey helped the company transition from a mobile business to endpoint management.
Burgundy Technology mentions Israel as a target area in its dossier. Apotheker graduated from the Hebrew University of Israel. Several large Israeli companies are aiming for IPOs or SPAC 2021 deals, which could make Burgundy a good choice here. The list of rumored names includes REE Automotive, Taboola, Outbrain, and eToro.
Related Link: 12 New SPACS Offers Filed Friday: What Investors Should Know
Mitch’s choices: Sports Entertainment Acquisition Corp (NASDAQ: SEAH) is a name that was mentioned several times on the show. The company targets the sports and entertainment sectors. The management includes Eric Grubman, who was president of hospitality company On Location Experiences and also held positions within the NFL. John Collins, the interim CEO of PSPC, has spent time with the NHL and the Cleveland Browns.
Acquisition of Supernova Partners (NASDAQ: SPNV) is targeting the tech industry, looking for a company with a large addressable market, a well-defined vision, competitive moats and the ability to expand operations. The management team includes Spencer Rascoff, co-founder of Zillow Group (NASDAQ: Z) and Hotwire. Rascoff was the CEO of Zillow for over 10 years and led the company through 15 acquisitions, including big rival Trulia.
A Goldman Sachs SPAC could land a high growth company, including eToro which was recently in talks with the company. GS Acquisition Holdings Corp II (NASDAQ: GSAH) is still trading below $ 11 and was a top pick for Hoch. The PSPC raised $ 700 million and did not specify a target area.
Churchill Capital Corp IV (NASDAQ: CCIV) is one of the largest PSPCs currently looking for a target. PSPC is linked as a finalist in the tender for DIRECTV, sold by AT&T (NYSE: T). Hoch favors the SPAC trading valuation closer to $ 10. Landing DIRECTV wouldn’t be much, according to Hoch, and he said he’d be more excited about a different target.
Acquisition of Cerberus Telecom (NYSE: CTAC) is a SPAC led by CEO Tim Donahue, who is the former president of Sprint Nextel. Hoch calls this a long-term, chart-based game.
Click here to watch the full SPACs Attack episode from Wednesday, December 30.
Disclosure: the author is long HYLN, BTAQ
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