Factbox: SPAC market defies lull with two mammoth deals

Ares Acquisition

11/05/2021 18:48

(Updates)
    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
IPO.  
    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
date.    
    
  Company name               SPAC   Deal value  Full story
 Grab Holdings  Altimeter Growth   ~$40 bln      urn:newsml:reuters.com:*:nL1N2M609X
                Corp  AGC.O                     
 Lucid Motors   Churchill Capital  $24 bln       urn:newsml:reuters.com:*:nL4N2KS4YJ
                Corp IV  CCIV.N                 
 Ginkgo         Soaring Eagle      $17.5 bln     urn:newsml:reuters.com:*:nL4N2MY2XR
 Bioworks       Acquisition Corp                
                 SRNG.O                         
 United         Gores Holdings IV  $16 bln       urn:newsml:reuters.com:*:nL3N2GK3MQ
 Wholesale      Inc  GHIV.O                     
 Mortgage                                       
 Owl Rock,      Altimar            $12.5 bln     urn:newsml:reuters.com:*:nL4N2J32XR
 Dyal Capital   Acquisition Corp                
                 ATAC.N                         
 IronSource     Thoma Bravo        $11.1 bln     urn:newsml:reuters.com:*:nL1N2LJ0IB
                Advantage  TBA.N                
 MultiPlan      Churchill Capital  $11 bln       urn:newsml:reuters.com:*:nL2N2EJ0BZ
                Corp III  CCXX.N                
 eToro          FinTech            $10.4 bln     urn:newsml:reuters.com:*:nL4N2LE31X
                Acquisition Corp                
                V  FTCV.O                       
 WeWork         BowX Acquisition   $9 bln        urn:newsml:reuters.com:*:nL4N2LO2G8
                Corp  BOWX.O                    
 SoFi           Social Capital     $8.65 bln     urn:newsml:reuters.com:*:nL1N2JI2HZ
                Hedosophia                      
                Holdings Corp V                 
                 IPOE.N                         
 
    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               urn:newsml:reuters.com:*:nL4N2J33QE
 Acquisition Corp                            
  SRNG.O                                     
 Churchill Capital     $1.38 bln               urn:newsml:reuters.com:*:nL4N2KI1PL
 Corp VII  CVII.N                            
 Austerlitz            $1.38 bln               urn:newsml:reuters.com:*:nFWN2KG0YI
 Acquisition Corp II                         
  ASZ.N                                      
 KKR Acquisition       $1.20 bln               urn:newsml:reuters.com:*:nL4N2LF2TH
 Holdings I  KAHC.N                          
 Jaws Mustang          $1.04 bln               urn:newsml:reuters.com:*:nASA01O7U
 Acquisition Corp                            
  JWSM.N                                     
 Thoma Bravo           $1.00 bln               urn:newsml:reuters.com:*:nPn98VlWda
 Advantage  TBA.N                            
 Ares Acquisition      $1.00 bln               urn:newsml:reuters.com:*:nASA01O53
 Corp  AAC.N                                 
 Reinvent Technology   $850 mln                urn:newsml:reuters.com:*:nASA016FF
 Partners  RTP.N                             
 FTAC Hera             $800 mln                urn:newsml:reuters.com:*:nASA01U64
 Acquisition Corp                            
  HERA.O                                     
 Gores Guggenheim Inc  $750 mln                urn:newsml:reuters.com:*:nASA01WZC
  GGPI.O                                     
 Compute Health        $750 mln                urn:newsml:reuters.com:*:nASA01P1Q
 Acquisition Corp                            
  CPUH.N                                     
 Pontem Corp  PNTM.N   $690 mln                urn:newsml:reuters.com:*:nASA01M2Z
 Austerlitz            $690 mln                urn:newsml:reuters.com:*:nASA01T18
 Acquisition Corp I                          
  AUS.N                                      
 Fortress Value        $650 mln                urn:newsml:reuters.com:*:nASA01VYB
 Acquisition Corp IV                         
  FVIV.N                                     
 Longview Acquisition  $600 mln                urn:newsml:reuters.com:*:nFWN2K41MJ
 Corp II  LGV.N                              
 Apollo Strategic      $600 mln                urn:newsml:reuters.com:*:nASA01PR5
 Growth II  APGB.N                           
 Slam Corp  SLAM.O     $575 mln                urn:newsml:reuters.com:*:nASA01RVD
 Liberty Media         $575 mln                urn:newsml:reuters.com:*:nASA01N2L
 Acquisition Corp                            
  LMAC.O                                     
 CM Life Sciences III  $552 mln                urn:newsml:reuters.com:*:nASA01ZIA
 Inc  CMLTU.O                                
 Churchill Capital     $552 mln                urn:newsml:reuters.com:*:nL4N2KI1PL
 Corp VI  CCVI.N                             
 Source: Refinitiv
    

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