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FACTBOX-SPAC market defies lull with two mammoth deals

Tue 11th May, 2021 6:48pm
    May 11 (Reuters) - Wall Street's biggest gold rush in recent
years, special purpose acquisition companies (SPACs) have raised
a record $140 billion globally so far in 2021, more than four
times what they brought in over the same period last year.
    Also known as blank-check companies, SPACs are listed on
bourses but have no business operations other than searching for
a private company to merge with. For the company being acquired,
the merger is an alternative way to go public over a traditional
    Waning investor appetite and regulatory scrutiny led to the
SPAC market losing steam in recent weeks, but two large mergers
announced on Tuesday could potentially help kick-start activity
in the space.
    Following are the 10 biggest SPAC mergers announced till
  Company name               SPAC   Deal value  Full story
 Grab Holdings  Altimeter Growth   ~$40 bln*:nL1N2M609X
                Corp  AGC.O                     
 Lucid Motors   Churchill Capital  $24 bln*:nL4N2KS4YJ
                Corp IV  CCIV.N                 
 Ginkgo         Soaring Eagle      $17.5 bln*:nL4N2MY2XR
 Bioworks       Acquisition Corp                
 United         Gores Holdings IV  $16 bln*:nL3N2GK3MQ
 Wholesale      Inc  GHIV.O                     
 Owl Rock,      Altimar            $12.5 bln*:nL4N2J32XR
 Dyal Capital   Acquisition Corp                
 IronSource     Thoma Bravo        $11.1 bln*:nL1N2LJ0IB
                Advantage  TBA.N                
 MultiPlan      Churchill Capital  $11 bln*:nL2N2EJ0BZ
                Corp III  CCXX.N                
 eToro          FinTech            $10.4 bln*:nL4N2LE31X
                Acquisition Corp                
                V  FTCV.O                       
 WeWork         BowX Acquisition   $9 bln*:nL4N2LO2G8
                Corp  BOWX.O                    
 SoFi           Social Capital     $8.65 bln*:nL1N2JI2HZ
                Holdings Corp V                 
    Following are 20 of the largest SPACs that have priced their
IPOs so far this year.
         Company name              IPO size               Source
 Soaring Eagle         $1.73 bln     *:nL4N2J33QE
 Acquisition Corp                            
 Churchill Capital     $1.38 bln     *:nL4N2KI1PL
 Corp VII  CVII.N                            
 Austerlitz            $1.38 bln     *:nFWN2KG0YI
 Acquisition Corp II                         
 KKR Acquisition       $1.20 bln     *:nL4N2LF2TH
 Holdings I  KAHC.N                          
 Jaws Mustang          $1.04 bln     *:nASA01O7U
 Acquisition Corp                            
 Thoma Bravo           $1.00 bln     *:nPn98VlWda
 Advantage  TBA.N                            
 Ares Acquisition      $1.00 bln     *:nASA01O53
 Corp  AAC.N                                 
 Reinvent Technology   $850 mln      *:nASA016FF
 Partners  RTP.N                             
 FTAC Hera             $800 mln      *:nASA01U64
 Acquisition Corp                            
 Gores Guggenheim Inc  $750 mln      *:nASA01WZC
 Compute Health        $750 mln      *:nASA01P1Q
 Acquisition Corp                            
 Pontem Corp  PNTM.N   $690 mln      *:nASA01M2Z
 Austerlitz            $690 mln      *:nASA01T18
 Acquisition Corp I                          
 Fortress Value        $650 mln      *:nASA01VYB
 Acquisition Corp IV                         
 Longview Acquisition  $600 mln      *:nFWN2K41MJ
 Corp II  LGV.N                              
 Apollo Strategic      $600 mln      *:nASA01PR5
 Growth II  APGB.N                           
 Slam Corp  SLAM.O     $575 mln      *:nASA01RVD
 Liberty Media         $575 mln      *:nASA01N2L
 Acquisition Corp                            
 CM Life Sciences III  $552 mln      *:nASA01ZIA
 Inc  CMLTU.O                                
 Churchill Capital     $552 mln      *:nL4N2KI1PL
 Corp VI  CCVI.N                             
 Source: Refinitiv

 (Reporting by Niket Nishant and Noor Zainab Hussain in
Bengaluru; Editing by Ramakrishnan M.)
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