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The week may be ending, but it looks like the news about PSPC mergers continues to heat up.
Source: Shutterstock
In fact, this week brought major changes to more than ten special purpose acquisition companies. For investors less familiar with this world, PSPCs are public companies that merge with private companies. Essentially, PSPCs help private companies avoid the IPO process. Importantly, following the pandemic sell off in March, investors have had a huge appetite for new deals. This means that PSPC mergers have dominated the market.
This week was no different. Dive into the latest news with InvestorPlace below:
# 1: Virgin Orbit SPAC Merger News
SPAC: Acquisition of VG (NASDAQ:VGAC)
Private enterprise: Virgin orbit
Sir Richard Branson is taking the blank check company craze in space… or at least investors are hoping it is. Its acquisition of VG has been in the spotlight of late thanks to a new interest in space exploration. Essentially, many are hoping that he will use VGAC’s stock to bring a space company to the public. And to be fair, such a decision would make sense. Branson is behind the pure space game Galactic Virgo (NYSE:SPCE) and other private companies like Virgin orbit and Hyperloop virgin.
So what should investors know? At this time, there is no defined merger goal for VGAC. However, Branson said earlier this week that he is considering the SPAC route for Virgin Orbit. If more news does materialize, make sure VGAC stock is on your radar.
For more information, read InvestorPlace.com’s brief on Virgin Orbit SPAC news here.
N ° 2: AppHarvest SPAC merger news
SPAC: Novus Capital (NASDAQ:NOVS)
Private enterprise: AppHarvest
For many investors, AppHarvest may stand out from the PSPC crowd. Indeed, instead of focusing on a high-tech trend, AppHarvest wants to rethink agriculture. Essentially, the company specializes in indoor growing solutions for tomatoes and other products.
So what made NOVS ‘stock soar before the AppHarvest SPAC merger? Well, earlier this week the company announced that it had taken another step forward. Importantly, he finished his first harvest of Beefsteak tomatoes and was preparing to deliver them to stores across the country. More importantly, the fact that Walmart (NYSE:WMT) and Kroger (NYSE:KR) were among these recipient stores.
To find out more, read InvestorPlace.com’s brief on AppHarvest SPAC news here.
# 3: Queen’s Gambit SPAC Merger News
SPAC: Queen’s Gambit (NASDAQ:GMBT)
Private enterprise: Unknown
You will notice that these are also different new PSPCs. Queen’s Gambit is a new, special-purpose acquisition company that just filed for public offering. What sets it apart is its management team. Unlike many blank check companies before her, all women run the GMBT staff.
We don’t know much about PSPC at this point, except that it will likely appeal to those who prioritize environmental, social, and governance investments. However, we know that GMBT wants to focus on sustainability and growth. Wait for the IPO, then keep the GMBT stock on your radar.
For more information, read InvestorPlace.com’s brief on Queen’s Gambit SPAC news here.
N ° 4: Payoneer SPAC merger news
SPAC: Acquisition of Ftac Olympus (NASDAQ:FTOC)
Private enterprise: Payoneer
Want some speculative news on PSPC mergers? Look no further than Payoneer and Ftac Olympus Acquisition. Ftac is rumored to be in talks to go public with Payoneer, leading to a rally in FTOC shares earlier this week.
So what should you know about Payoneer? At present, there is no merge combination. However, such a deal would be quite exciting because Payoneer is a fintech piece. Specifically, it provides payment processing solutions.
For more information, read InvestorPlace.com’s brief on Payoneer SPAC news here.
N ° 5: REE Auto SPAC merger news
SPAC: Acquisition of technology in Burgundy (NASDAQ:BTAQ)
Private enterprise: Unknown
Let me start by adding some clarification. At this time, we really don’t know the objective of acquiring Burgundy Technology. However, social media users are pretty sure they’ve narrowed the list down. This is because there are two facts about BTAQ’s stock that set it apart. The first is that the company wants to bring an audience of tech games. The second is that he wants to focus on an Israeli business. Put two and two together, REE Auto and eToro are the best guesses.
Earlier this week, investors were hoping for confirmation of an REE Auto SPAC merger. This is because many see REE Auto as a competitor Canoo (NASDAQ:GOEV), a popular EV startup. REE Auto would provide another opportunity to capitalize on this enthusiasm.
To learn more, read InvestorPlace.com’s brief on REE Auto SPAC news here.
N ° 6: Hims & Hers SPAC merger news
SPAC: Acquisition of Oaktree (NYSE:OAC)
Private enterprise: Hims & Hers (NYSE:HIM)
This week marked the end of a PSPC era and the start of public procurement life for a business. This company? Telehealth plays Hims & Hers. HIMS stock started trading this week on New York Stock Exchange, inaugurating in hope its potential to dominate Teladoc (NYSE:TDOC).
So what should investors know? Hims & Hers is an interesting company that occupies a unique place in the telehealth market. It is aimed at men, women and children and also offers specialized services such as behavioral psychology and dermatology. Even though it will have to grow to really compete with Teladoc in terms of telehealth consultations per year, a lot of hope is at stake. Especially with the Covid-19 catalysts, the HIMS stock is one to watch.
For more information, read InvestorPlace.com’s brief on Hims & Hers SPAC news here.
N ° 7: Joby Aviation SPAC merger news
SPAC: Unknown
Private enterprise: Joby Aviation
Move Blade Urban Air Mobility, another disruptive transport company is looking to go public through a special purpose acquisition company. According to a Reuters report, Joby Aviation hired investment banks to solicit bids from PSPCs.
But what exactly is Joby Aviation? The company plans to offer carpooling services … except that it wants to offer these services via fully electric flying taxis. Another thing to watch out for is that Joby recently acquired the flying taxi assets of Uber (NYSE:UBER). Joby is eyeing a 2023 launch date, but the company has to start looking now.
To find out more, read the InvestorPlace.com brief on Joby Aviation SPAC news here.
N ° 8: Lucid Motors news on the SPAC merger
SPAC: Churchill Capital IV (NYSE:CCIV)
Private enterprise: Lucid engines
Lucid engines The PSPC merger is hoping investors are on the lookout this week. The latest news comes from Los Angeles Times, who reported this morning that a deal is underway. However, Michael Klein and his Churchill Capital IV have not said a word about the merger. In fact, Klein said earlier this week that his blank check company is considering a variety of acquisition targets.
So what else do investors need to know? There is a lot of risk and speculation here. However, if a deal is struck, there is also a lot of potential. This is because many people see Lucid Motors as a real rival for You’re here (NASDAQ:TSLA) in the luxury space.
For more information, read InvestorPlace.com’s brief on Lucid Motors SPAC news here.
N ° 9: News on the EVgo SPAC merger
SPAC: Climate change crisis Real impact I Acquisition Corporation (NYSE:CLII)
Private enterprise: EVgo
Luckily for investors, Wall Street has gotten some PSPC confirmation in the electric vehicle space. In fact, we learned this morning that EVgo will be released to the public.
What emerges from this news? EVgo is actually the largest electric vehicle charging company in the United States, with more than 800 locations. This means it gives investors a disproportionate opportunity to profit from a trend – and it makes the CLII stock quite interesting here. Keep this one on your radar as well.
To find out more, read InvestorPlace.com’s brief on EVgo SPAC news here.
# 9: Liberty Media SPAC merger news
SPAC: Liberty Media Acquisition Corporation (NASDAQ:LMACU)
Private enterprise: Unknown
Last but not least on the SPAC merger news list this week is Liberty Media Acquisition. Started by billionaire John Malone, the new blank check company plans to market a media or entertainment business in public markets. And above all, the LMACU share has just started to trade.
But why does Malone and his Liberty Media make LMACU stock so attractive? Well, Malone commands a whole empire. His business is divided into three parts: Liberty Media Formula 1 (NASDAQ:SEE, NASDAQ:FWONK), Liberty Sirius XM (NASDAQ:LSXMA, NASDAQ:LSXMK), and Braves of freedom (NASDAQ:BATRA, NASDAQ:BATRK).
For more information, read InvestorPlace.com’s Liberty Media SPAC news brief here.
As of the publication date, Sarah Smith does not hold (neither directly nor indirectly) any positions in any of the securities mentioned in this article.
Sarah Smith is a Web Content Producer for InvestorPlace.com.
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