5 SPACs To Watch In The Second Half

As the shut of the initial 50 percent of 2021 nears, investors have a chance to look at some organizations that could have large moves in the next 50 percent of 2021.

In this article is a look at five SPACs to watch in the next 50 percent.

Churchill Money Corp IV

Electric powered auto enterprise Lucid Motors is merging with Churchill Money Corp IV in a offer that has been one of the most talked over of its kind. The offer valued Lucid Motors at $24 billion centered on a pricing of $15 for the personal financial commitment in community fairness (PIPE) on the offer.

Lucid Motors is set to launch the Lucid Air sedan in the next 50 percent of 2021. There have been around 7,500 reservations of the Lucid Air in February symbolizing $650 million in profits for Lucid Motors.

The company’s manufacturing capabilities are 34,000 models annually, with enlargement programs that would just take the enterprise to 365,000 models annually. Declared upcoming models consist of the Lucid Gravity SUV in 2023 and programs for a lot more sedans and SUVs in the upcoming.

Lucid Motors has not introduced a date for the merger vote.

Altimeter Growth

The big Southeast Asian supply, mobility, and money services enterprise Grab announced a SPAC offer with Altimeter Growth in one of the greatest choices for a enterprise from the area in the United States.

Seize is the classification leader for on the web food supply, trip-hail, and digital wallets in Southeast Asia. The enterprise had gross merchandising benefit of $twelve.5 billion in 2020, which arrived in forward of pre-pandemic levels.

About 670 million persons live in Southeast Asia, which could give Seize a important runway for upcoming advancement in its existing and new segments. On the web food supply penetration and digital wallets are smaller sized in current market measurement in Asia than in regions like the U.S.

The offer is envisioned to be finished in the afterwards component of 2021.

Chamath SPACs

One particular of the best names in the SPAC entire world nonetheless has two SPACs hunting for targets. Chamath Palihapitiya’s Social Money Hedosophia Holdings (IPOD) and Social Money Hedosophia Holdings VI (IPOF) are SPACs that could carry out perfectly in the next 50 percent of 2021.

IPOD has no rumors hooked up to it, whilst IPOF is rumored to be bringing health and fitness center proprietor and Peloton Interactive rival Equinox community.

IPOD raised $400 million and has the previous CEO and co-founder of NextDoor to enable select a concentrate on.

Dick Costolo, the previous CEO of Twitter from 2010 to 2015, is assisting the $one-billion IPOF pick out a concentrate on.

Palihapitiya recently filed for 4 biotech SPACs. That could imply deals are shut to getting introduced for IPOD and IPOF — or he could have 6 lively SPACs hunting for targets afterwards this 12 months.

Trident Acquisitions

One particular craze that has performed out for SPACs in 2021 is that some perfectly-recognized models or organizations trade far better when they have the new title and ticker.

The very same could materialize for Lottery.com, which is merging with Trident Acquisitions and will trade underneath new ticker LTRY.

Lottery.com has facilities in twelve states and programs to include 6 a lot more in 2021, CEO Tony DiMatteo informed Benzinga.

A potential catalyst for the enterprise is its acquisition of the sports.com domain and intentions to enter the sports betting current market. DraftKings CEO Jason Robins serves on the company’s advisory board.

This story originally appeared on Benzinga. © 2021 Benzinga.com.

Benzinga does not deliver financial commitment suggestions. All rights reserved.

Benzinga, Lucid Motors, SPACs