What trading platform allows to buy SPACS from the U.K and US?
T212 does. But stretched resources right now hence poor customer service. Exceptional demand, due to FOMO experienced by new entrant retail (aspiring) investors ...
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Nostramux
14 comments
nostramux
Hi Spl183, thanks for your reply. I am looking into it as well. Where do you think I can find the lists of UK SPACS? Is there a website?
Spl183
I believe that SPACs are US-centric vehicles, i.e. in the UK they do not exist strictly in name. There may be similarly-operating VCT vehicles available in the UK, but I have no knowledge of that space I'm afraid so more a presumption. Good luck in your endeavours.
Spl183
clarea
At the risk of sounding dumb what are spac's I see them being lumped in with bitcoin, clean energy and hydrogen so guessing they are something where retail hot money has been flowing into for a while.
Thanks
Rustbucket
Here is some info about SPACs: https://www.investopedia.com/terms/s/spac.asp
Seem to be shells that do an IPO to raise money and then have 2 years to do an acquisition.
I don't think there are any in the UK.
timarr
I don't think there are any in the UK.
There are plenty of SPACS in the UK:
https://www.nortonrosefulbrigh...
They're a reverse IPO, more or less. I can't see why they'd be of much interest to experienced investors but presumably there might be some special areas of interest or knowledge. Usually the management teams are high profile and come with costs to match.
It's all a bit too much like investing in a "company for carrying out an undertaking of great advantage, but nobody to know what it is" for me.
timarr
Rustbucket
Are there are any current ones listed on the main markets or AIM?
Had a look at Wilmote Holdings and J2 Acquisition, they seem to have disappeared.
clarea
Thanks Tim and Herbie with the steer now up to speed.
I remember similar happening back in the day, were you guys trading when the two fellas from the daily mirror tipped i think it was Ecentric that went from 2p to £2.50 in a day.
From memory Archie Norman and Julian Richer were involved it had assets of about 5 mil cash no revenues but was valued north of £250 mil from memory this was few months before Last Minute IPO'd and every thing went pop few months later
It was in the early internet days when companies released an rns saying we have added .com to our name and the price would go up 50% there and then, there was the tv show with Tom W on daily where again if he tipped something it would put on 30% minutes later and prices were updated on Ceefax.
mojomogoz
SPACs have been a boon in the US due to the warrants that come attached. So hedge funds been systematically buying pre announcement SPACs (not 100% sure of my terminology but before the target is known), hoovering up low price high optionality warrants and then selling them ahead of deal completion.
Checkout PLBY https://www.plbygroup.com/home which bought the assets of Playboy! Post deal the price has come off.
This was previously Mountain Crest Acquisition https://www.mcacquisition.com/... which you could have bought as a regular share in the UK. The issue would likely be whether you could get and transact the warrants. I don't know if ordinary brokers would permit these non standard instruments (and there might be ISA or SIPP issues too I'd guess...I dunno so ask someone that knows)
Some of the EV and other hot area SPACs totally moonshot.
The return to a post deal portfolio of SPACs is poor tho so all the money is in the speculative game pre game it seems.
IMO this is a mania and only play if you are a good shark
David St
There are no SPACs listed in London. Amsterdam is the only market in Europe that has any SPACs to date as far as I am aware.
smegster
At the height of the South Sea bubble, one enterprise was promoted and received money from investors (who eventually lost all of their money) with the tagline “For carrying-on an undertaking of great advantage but no-one to know what it is”
It looks like not much has changed over the last 3 centuries.....
gus 1065
Media Tech SPAC plc has announced an upcoming U.K. IPO today looking to raise £6m which includes a retail offer being made available via PrimaryBid. Shell company is targeting media/tech sectors in the U.K. and rest of Europe with focus (albeit quite a wide beamed one!) on digital content, distribution, e-gaming, cyber security etc.. Three principal directors with relevant industry backgrounds/contacts. Investor presentation and draft prospectus via the PB app. Applications due by 7th July. Once in a lifetime opportunity to buy a blue tulip?!
Gus.
shamusj
The warrants generally get called in once the price trades over a certain threshold for a certain number of days. I wave past most SPACs when they are announced but track the ones that either have a long operating history, or have assets that I can physically see, with a unique business model. The only two former SPAC names that I have conviction in are: Opendoor and Arrival.
Note: Both of these companies are now fully listed, and their SPAC histories are now irrelevant as their warrants have also been called in.
Opendoor has been growing for years before becoming public. You can read some thorough analysis of Opendoor by an analyst that I value here:
I have seen the Arrival factory in Bicester also, and you can see it online here:
Kryten from Red Dwarf also did a decent Q and A onsite at Arrival:
