The week may be ending, but it looks like the news from the SPAC merger continues to heat up.
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In fact, this week brought big moves in more than ten special-purpose acquisition companies. For investors less familiar with this world, SPACs are public companies that merge with private companies. Essentially, SPACs help private companies to avoid the IPO process. It is important to note that, after the liquidation of the pandemic in March, investors had a strong appetite for new offers. This means that SPAC mergers dominated the market.
This week was no different. Dive into the latest news with InvestorPlace below:
No. 1: Virgin Orbit SPAC news
SPAC: VG acquisition (NASDAQ:VGAC)
Private company: Virgin Orbit
Sir Richard Branson is taking the blank check craze into space … or at least investors hope it is. His VG acquisition has been in the spotlight recently, thanks to a new interest in space exploration. Basically, many expect him to use VGAC’s shares to go public in a space company. And to be fair, such a move would make sense. Branson is behind the pure game of space galactic virgin (NYSE:SPCE) and other private companies such as Virgin Orbit and Virgin Hyperloop.
So, what should investors know? For now, there is no defined merger target for VGAC. However, Branson said earlier this week that he was considering the SPAC route to Virgin Orbit. If more news comes up, make sure the VGAC stock is on your radar.
For more information, read the InvestorPlace.com summary of Virgin Orbit SPAC news here.
No. 2: AppHarvest SPAC merger news
SPAC: Novus Capital (NASDAQ:NOVS)
Private company: AppHarvest
For many investors, AppHarvest can stand out in the SPAC crowd. That’s because, 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 AppHarvest SPAC merged? Well, earlier this week, the company announced that it had reached a new milestone. It is important to note that he completed his first harvest of Beefsteak tomatoes and was preparing to deliver them to stores across the country. Even more important is the fact that Walmart (NYSE:WMT) and Kroger (NYSE:KR) were some of these recipient stores.
For more information, read the InvestorPlace.com summary of AppHarvest SPAC news here.
No. 3: News of Queen’s Gambit SPAC merger
SPAC: Queen Gambito (NASDAQ:GMBT)
Private company: Unknown
You will notice that this is also different news from SPAC. Queen’s Gambit is a new special purpose acquisition company that has just gone public. What sets him apart is his leadership team. Unlike many previous blank check companies, all women lead the GMBT team.
We don’t know much about SPAC at this point, except that it will probably appeal to those who prioritize environmental, social and governance investments. However, we know that GMBT wants to focus on sustainable development and growth. Wait for the IPO and then keep the GMBT stock on your radar.
For more information, read the InvestorPlace.com summary of Queen’s Gambit SPAC news here.
No. 4: Payoneer SPAC merger news
SPAC: Acquisition Ftac Olympus (NASDAQ:FTOC)
Private company: Payoneer
Want some speculative news about the SPAC merger? Look no further, Payoneer and Ftac Olympus Acquisition. According to rumors, Ftac is in talks to make Payoneer public, leading to a rise in FTOC shares earlier this week.
So, what should you know about Payoneer? There is currently no merger combination. However, such a deal would be quite exciting because Payoneer is a fintech move. More specifically, it provides payment processing solutions.
For more information, read the InvestorPlace.com summary of Payoneer SPAC news here.
No. 5: REE Auto SPAC merger news
SPAC: Burgundy technology acquisition (NASDAQ:BTAQ)
Private company: Unknown
Let me start by adding some clarifications. At the moment, we don’t really know what the Burgundy Technology acquisition target is. However, social media users are confident that they have narrowed the list down. This is because there are two facts about the actions of BTAQ that highlight them. The first is that the company wants to bring a technology game to the public. The second is that you want to focus on an Israeli company. Putting two and two together, REE Auto and eToro are the best guesses.
Earlier this week, investors were waiting for confirmation of a REE Auto SPAC merger. This is because many see REE Auto as a competitor for Canoe (NASDAQ:GOEV), a popular EV startup. REE Auto would offer another opportunity to profit from this craze.
For more information, read the InvestorPlace.com summary of the REE Auto SPAC news here.
No. 6: Hims & Hers SPAC Merger News
SPAC: Oaktree Acquisition (NYSE:OAC)
Private company: Hims & Hers (NYSE:HIMS)
This week marked the end of a SPAC era and the beginning of life in a company’s public market. That firm? Telehealth play Hims & Hers. HIMS shares started trading this week at New York Stock Exchange, inaugurating the hope of 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 serves men, women and children, and also offers specialized services such as behavioral psychology and dermatology. While it has to grow to really rival Teladoc in terms of telehealth consultations per year, a lot of hope is at stake. Especially with Covid-19 catalysts, the HIMS stock is worthy of attention.
For more information, read the InvestorPlace.com summary of Hims & Hers SPAC news here.
Nº 7: Joby Aviation SPAC merger news
SPAC: Unknown
Private company: Joby Aviation
move on Blade Urban Air Mobility, another disruptive transportation company is seeking to go public through a special purpose acquisition company. According to a Reuters report, Joby Aviation has hired investment banks to solicit SPAC offers.
But what exactly is Joby Aviation? The company plans to offer hitchhiking services … except that it wants to offer these services through fully electric flying taxis. Another thing to note is that Joby recently acquired the flying taxi assets from Uber (NYSE:UBER) Joby is aiming for a 2023 release date, but the company should start looking now.
For more information, read the InvestorPlace.com summary of Joby Aviation SPAC news here.
Nº 8: News of the Lucid Motors SPAC merger
SPAC: Churchill Capital IV (NYSE:CCIV)
Private company: Lucid Motors
Lucid Motors The SPAC merger hopes to make investors nervous 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 did not say a word about the merger. In fact, Klein said earlier this week that his blank check company was considering a variety of acquisition targets.
So, what else do investors need to know? There is a lot of risk and a lot of speculation here. However, if a deal is closed, there is also a lot of potential. This is because many people see Lucid Motors as a real rival for Tesla (NASDAQ:TSLA) in the luxury space.
For more information, read the InvestorPlace.com summary of Lucid Motors SPAC news here.
No. 9: EVgo SPAC Merger News
SPAC: Climate change crisis Real impact I Acquisition corporation (NYSE:CLII)
Private company: EVgo
Fortunately for investors, Wall Street got a bit of confirmation from SPAC in the electric vehicle segment. In fact, we learned this morning that EVgo will be made public.
What stands out in this news? EVgo is actually the largest electric vehicle charging company in the United States, with more than 800 locations. This means that it gives investors an extraordinary opportunity to profit from a trend – and it makes CLII’s shares look quite interesting here. Keep this on your radar too.
For more information, read the InvestorPlace.com summary of EVgo SPAC news here.
No. 9: News about the merger of Liberty Media SPAC
SPAC: Liberty Media Acquisition Corporation (NASDAQ:LMACU)
Private company: Unknown
Last, but not least, on the list of news from the SPAC merger this week is Liberty Media Acquisition. Launched by billionaire John Malone, the new blank check company plans to bring a media or entertainment business to public markets. Most importantly, LMACU’s shares started to be traded.
But why does Malone and his Liberty Media make LMACU’s shares so attractive? Well, Malone runs quite an empire. Your business is divided into three parts: Liberty Media Formula One (NASDAQ:FWONA, NASDAQ:FWONK), Liberty Sirius XM (NASDAQ:LSXMA, NASDAQ:LSXMK), and Liberty Braves (NASDAQ:BATRA, NASDAQ:BATRK)
For more information, read the InvestorPlace.com summary of Liberty Media SPAC news here.
As of the date of publication, Sarah Smith did not (directly or indirectly) hold any positions in the securities mentioned in this article.
Sarah Smith is a producer of web content for InvestorPlace.com.