Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Post-SPAC space firms redoubling efforts to attract institutional investor
Three space companies that went public two years ago are seeking ways to build credibility with large institutional investors that have started dipping toes into the deflated market.
Launch vehicle and spacecraft developer Rocket Lab, space technology provider Redwire, and Earth observation operator BlackSky started trading shares within weeks of each other after their 2021 merger with a special purpose acquisition company (SPAC), a financial tool offering a fast-track to stock markets. […]
Redwire’s Baliff also highlighted current confusion among investors over which companies will survive the downturn and those with business models that work.
Generally, if a company listed at $10 and is now trading at $5, “you’re kind of viewed as a survivor,” he said, “you’re going to make it. If you’re below $1 … it’s teetering on investors being able to just give you any capital, and between one and five, you know, it just depends on the day.”
READVista Equity Reportedly Shopping Genius Sports Competitor
Citing unidentified sources with knowledge of the matter, Bloomberg reported the news earlier Thursday. It’s not clear what Vista Equity’s timeline is for divesting Stats Perform nor were potential suitors or sales prices mentioned. The company uses artificial intelligence (AI) and other technologies to provide sports-related data to media and gaming companies, among other clients.
Vista acquired Stats in 2014 from FOX Sports and the Associated Press. It was merged with Perform in 2019 after Texas-based Vista invested in DAZN. Through that deal, the buyer gained access to Opta, RunningBall and Watch&Bet.
Competitors include Genius Sports (NYSE:GENI) and Sportradar (NASDAQ:SRAD), which have market values of $1.25 billion and $3.20 billion, respectively. It remains to be seen if that range provides some template for Stats Perform’s ultimate sale price. Genius Sports went public in a merger with dMY II in April 2021.
READAn In-Depth Look at SPAC Activity Throughout the Third Quarter of 2023 Below is a summary of the year-to-date SPAC performance. We’re now three-quarters of the way through 2023 and while activity remains muted, there is a sense that SPACs have run the most difficult part of the “correction” gauntlet and have reached a better...
Terms Tracker for the Week Ending September 29, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As September comes to a close, SPACs did not price any IPOs during the month with the most recent IPO (99 Acquisition Group) having priced...
Athena Consumer Acquisition Corp. (NYSE:ACAQ) announced this afternoon that its stockholders approved its combination with German EV-maker e.GO at a special meeting held earlier today. Additionally, Athena Consumer’s warrant proposal to convert all outstanding warrants to 0.175 shares in the combined company was also approved. A total of 884,880 shares of Athena Class A Common...
October is set to be a quiet month for lock-up expirations with only four de-SPACs and four sponsors now open to trade their shares for the first time. The first customer is Bitdeer Technologies. Its shareholders and the Blue Safari sponsor both stand to gain the most out of this group from moving some of...
Graf Acquisition Corp. IV (NYSE:GFOR) announced in an 8-K this afternoon that its shareholders approved its combination with NKGen Biotech at a special meeting September 25. A total of 3,386,528 shares were redeemed in connection with the vote, leaving Graf IV with about $27.6 million in the tank and a final redemption rate of 84.3%....