Factbox: SPAC mania flows through to 2021 with bumper January

Latch

01/02/2021 17:37

Feb 1 (Reuters) - Special purpose acquisition companies
(SPACs) raised a record $82 billion through initial public
offerings last year, making them one of the most favored
investment options on Wall Street, and their popularity shows no
signs of fading in 2021.
    Ninety-one SPACs raised $25.09 billion in January, according
to data provider Dealogic.  
    A SPAC is a shell company that raises funds in an IPO to
acquire a private company, which then becomes public as a result
of the merger. For the company being acquired, the merger is an
alternative way to go public over a traditional IPO.  
    Following are some of the SPAC mergers announced so far this
year:    
    
  Company name               SPAC  Deal value  Full story
 Social         Social Capital     $8.65 bln    urn:newsml:reuters.com:*:nL1N2JI2HZ
 Finance Inc    Hedosophia                     
                Holdings Corp V                
                 IPOE.N                        
 Alight         Foley Trasimene    $7.3 bln     urn:newsml:reuters.com:*:nL4N2K02XZ
 Solutions LLC  Acquisition Corp               
                 WPF.N                         
 Hillman Group  Landcadia          $2.64 bln    urn:newsml:reuters.com:*:nL4N2K02YK
 Inc            Holdings III Inc               
                 LCY.O                         
 Taboola        ION Acquisition    $2.6 bln     urn:newsml:reuters.com:*:nL4N2K02WZ
                Corp. 1 Ltd                    
                 IACA.N                        
 EVgo Services  Climate Change     $2.6 bln     urn:newsml:reuters.com:*:nL4N2JX2L8
 LLC            Crisis Real                    
                Impact I                       
                Acquisition Corp               
                 CLII.N                        
 Achronix       ACE Convergence    $2.1 bln     urn:newsml:reuters.com:*:nL4N2JI412
 Semiconductor  Acquisition Corp               
 Corp            ACEV.O                        
 Latch Inc      TS Innovation      $1.6 bln     urn:newsml:reuters.com:*:nL4N2K042C
                Acquisitions Corp              
                 TSIA.O                        
 Proterra Inc   ArcLight Clean     $1.6 bln     urn:newsml:reuters.com:*:nL4N2JN2VM
                Transition Corp                
                 ACTC.O                        
 Talkspace      Hudson Executive   $1.4 bln     urn:newsml:reuters.com:*:nL4N2JO2NC
                Investment Corp                
                 HECCU.O                       
 Sunlight       Spartan            $1.3 bln     urn:newsml:reuters.com:*:nL4N2K0302
 Financial      Acquisition Corp               
                II  SPRQ.N                     
    Following are 10 of the largest SPACs that have priced their
IPOs so far this year.
    
         Company name              IPO size               Source
          Thoma Bravo              $900 mln          urn:newsml:reuters.com:*:nPn98VlWda
    Advantage  TBA.N                         
          Pontem Corp              $690 mln          urn:newsml:reuters.com:*:nPn9jg4VQa
            PNTM_u.N                         
  SVF Investment Corp          $603.75 mln           urn:newsml:reuters.com:*:nPreF9X4qa
             SVFAU.O                         
        Liberty Media              $575 mln          urn:newsml:reuters.com:*:nBw6KPlZ4a
     Acquisition Corp                        
             LMACU.O                         
     Altimeter Growth   $450 mln (including          urn:newsml:reuters.com:*:nPn7RqMPqa
      Corp 2  AGCB.N          underwriters'  
                                    option)  
 Gores Metropoulos II              $450 mln          urn:newsml:reuters.com:*:nBw4KVnXsa
        Inc  GMIIU.O                         
    Marlin Technology   $414 mln (including  (https://prn.to/3cfAC68)
       Corp  FINMU.O          underwriters'  
                                    option)  
    Primavera Capital   $414 mln (including          urn:newsml:reuters.com:*:nBw1GS0ssa
     Acquisition Corp         underwriters'  
              PV_u.N                option)  
  Epiphany Technology            $402.5 mln          urn:newsml:reuters.com:*:nGNX2jGPYX
     Acquisition Corp            (including  
             EPHYU.O          underwriters'  
                                    option)  
  Pioneer Merger Corp            $402.5 mln           urn:newsml:reuters.com:*:nBwnRXwHa
             PACXU.O             (including  
                              underwriters'  
                                    option)  
 Source: Company reports, Dealogic  
    

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