SPAC's - Sept. 2020
Long/Short Equity, Growth, Special Situations
Seeking Alpha Analyst Since 2020
Summary
- List of today's SPAC's and basic information.
- Special focus on SPAC's without a Combination Agreement.
ETAC: E.Merge Technology Acquisition (ETACU)
Leadership: Co-CEO and CFO Jeff Clarke, the former CEO of Eastman Kodak and Co-CEO Guy Gecht, the former CEO of Electronics For Imaging. Chairman Steven Singh is Managing Director at Madrona Venture Group and former CEO of Concur Technologies/SAP Concur.
Target Industry: The company plans to target a business in the software and internet technology industries with a valuation between $1 billion and $3 billion.
SPAC Size: $522M
Target Company: Unknown
Source: Tech SPAC E.Merge Technology Acquisition prices upsized $522 million IPO at $10
NFIN - Netfin Acquisition (NFIN)
Leadership: Triterras Fintech Founder, Chairman and CEO Srinivas Koneru
Target Industry: Trade finance is a $40 trillion industry that provides funding for global trade. Kratos has rapidly become a trusted platform enabling buyers and sellers to trade commodities as well as facilitate short-term trade finance.
Target Company: Kratos (Triterras subsidiary)
FTAC - Fintech Acquisition III (FTAC)
Leadership: Paya CEO Jeff Hack; Betsy Z. Cohen, Chairman of the Board of FinTech III
Target Industry: Financial Technology
Target Company: Paya
Source: Paya and FinTech III Announce Merger Agreement
AACQ – Artius Acquisition (AACQU)
Leadership: co-founder, Mr. Charles Drucker, former Chief Executive Officer and Executive Chairman of Worldpay; co-founder, Mr. Boon Sim, former senior executive at Temasek
Target Industry: We intend to focus our efforts on technology-enabled businesses that offer specific technology solutions, broader technology software and services, or financial services to companies of all sizes.
SPAC Size: $630M
Target Company: Unknown
ACND – Ascendant Digital Acquisition (ACNDU)
Leadership: Mark Gerhard CEO and CTO Jagex, the UK’s leading games developer and publisher best known as the makers of RuneScape.
Target Industry: operate a business in what we call the “Attention Economy”-- the various converging sectors within: Interactive (digital) entertainment, Film/television, Music, E-sports, Live events
SPAC Size: $414M
Target Company: Unknown
BMRG – B. Riley Principal Merger (BMRGU)
Leadership: Joe Mastrangelo, Eos' Chief Executive Officer, is a 25-year General Electric ("GE") veteran; Russ Stidolph, Chairman of the Eos Board of Directors, is founder and Managing Director of AltEnergy LLC, a private equity firm focused on alternative energy investing.
Target Industry: Battery Storage, Alternative Energy
SPAC Size:
Target Company: Eos Energy Storage LLC
CCXX– Churchill Capital III (CCXX)
Leadership: Michael Klein, Chairman and CEO of Churchill Capital, founder of M. Klein company. Jay Taragin CFO, former CFO of Scotia Bank
SPAC Size: $1.1B
Target Industry: Healthcare Services/Technology
Target Company: Multiplan - $11B equity valuation
CCIV– Churchill Capital IV (CCIVU)
Leadership: Michael Klein, Chairman and CEO of Churchill Capital, founder of M. Klein company. Jay Taragin CFO, former CFO of Scotia Bank
SPAC Size: $1.8B
Target Industry: Unknown
Target Company: Unknown
FEAC – Flying Eagle Acquisition (FEAC)
Leadership: Hollywood executives Harry Sloan and Jeff Sagansky, successfully combined DEAC/Draftkings SPAC
SPAC Size: $600M
Target Industry: Mobile Gaming
Target Company: Skillz - $3.5B Equity valuation (6.3x 2020 rev)
Source: Mobile gaming firm Skillz to go public through merger with blank-check company
CPAA– Conyers Park Acquisition II (CPAA)
Leadership: Tanya Domier, current chief executive officer of Advantage; Current director of Conyers Park, Jim Kilts, will be chairman of the newly combined company
SPAC Size: $600M
Target Industry: Sales/Marketing Business Services
Target Company: Advantage Solutions - $5.2 billion EV or 10.1x its estimated 2021 Adjusted EBITDA of $515 million.
Source: Advantage Solutions to Combine with Conyers Park II Acquisition Corp.
DFHT– Deerfield Healthcare Technology (DFHT)
Leadership: Richard Barasch, former Chief Executive Officer of Universal American Corp
and Steven Hochberg, our Chief Executive Officer and a partner in Deerfield Management
SPAC Size: $125M
Target Industry: Healthcare
Target Company: Unknown
GXGX– GX Acquisition Corp (GXGXU)
Leadership: Jay R. BloomCEO/Co-Chariman, Managing Partner of Trimaran; Dean C. Kehler, Managing Partner of Trimaran;
SPAC Size: $287M
Target Industry: Unknown
Target Company: Unknown
HPX– HPX Acquisition (HPXU)
Leadership: Bernardo Hees, Co-Chairman, 3G Partner
SPAC Size: $220M
Target Industry: Brazil – especially consumer facing
Target Company: Unknown
HYAC– Haymaker Acquisition Corp II (HYAC)
Leadership: Stephen J. Heyer, formerly: COO Coca-cola & CEO of Starwood; Arie Kotler, Chief Executive Officer of Arko and GPM
SPAC Size: $400M
Target Industry: Consumer (Gas Stations/Convenience Stores)
Target Company: Arko Holdings & GPM Investments ($1.4B equity valuation, $2.0B EV, approx.. 9x 2021 adj. EBITDA)
IPOB - Social Capital Hedosophia Holdings II (IPOB)
Leadership: Chamath Palihapitiya, Social Capital founder & Virgin Galactic Chairman. Ian Osbourne, Hedosophia founder
SPAC Size: $360M
Target Industry: US Technology
Target Company: Opendoor (rumored)
IPOC - Social Capital Hedosophia Holdings III (IPOC)
Leadership: Chamath Palihapitiya, Social Capital founder & Virgin Galactic Chairman. Ian Osbourne, Hedosophia founder
SPAC Size: $720M
Target Industry: ex-US Technology
Target Company: Unknown
MLAC - Malacca Straits Acquisition (MLACU)
Leadership: CEO and Director Kenneth Ng, who is the founder and Managing Partner of asset management firm Ark Pacific Capital Management, and CFO and Director Stanley Wang, the founder and Managing Director of K2 Venture Capital
SPAC Size: $144M
Target Industry: SE Asian business conglomerates in the media, food processing, renewable energy, and healthcare.
Target Company: Unknown
Source: Southeast Asia-focused SPAC Malacca Straits Acquisition files for a $125 million IPO
PCPL - CC Neuberger Principal Holdings I (PCPL.U)
Leadership: Chinh E. Chu, Douglas Newton, Charles Kantor and other senior professionals of CC Capital and Neuberger Berman
SPAC Size: $414M
Target Industry: financial, technology and business services sectors.
Target Company: Unknown
Source: CC Neuberger Principal Holdings I Closes $414 Million Initial Public Offering
CCNP - CC Neuberger Principal Holdings I (CCNP)
Leadership: Chinh E. Chu, Matthew Skurbe, Douglas Newton, Jason K. Giordano, Charles Kantor and other senior professionals of CC Capital and Neuberger Berman
SPAC Size: $720M
Target Industry: Unknown
Target Company: Unknown
Source: CC Neuberger Principal Holdings I Closes $414 Million Initial Public Offering
JWS – Jaws Acqusition (JWS)
Leadership: Founder Barry Sternlicht, CEO of Starwood; Joseph Dowling, CEO of Brown University Endowment
SPAC Size: $600M
Target Industry: Unknown (Not Real-estate)
Target Company: Unknown
FUSE – Fusion Acquisition (FUSEU)
Leadership: Jim Ross, State Street Advisor, ETF Pioneer
SPAC Size: $350M
Target Industry: Fintech
Target Company: Unknown
Source: Fusion Acquisition Corp. Announces Closing of $350,000,000 Million Initial Public Offering
HECC – Hudson Executive Investment (HECCU)
Leadership: Doug Bergeron, Former CEO of Verifone
SPAC Size: $414M
Target Industry: Financial or Healthcare Services/Technology
Target Company: Unknown
Source: Hudson Executive Investment Corp | Hudson Executive Capital
WPF – Foley Trasimene I (WPFU)
Leadership: Bill Foley, Chairman of Cannae Holdings
SPAC Size: $900M
Target Industry: Financial Services or Technology
Target Company: Unknown
Source: Foley Trasimene Acquisition Corp.
BFT – Foley Trasimene II (BFTU)
Leadership: Bill Foley, Chairman of Cannae Holdings
SPAC Size: $1.3B
Target Industry: Financial Services or Technology
Target Company: Unknown
Source: Foley Trasimene Acquisition Corp. II Announces Closing of Initial Public Offering
TREB – Trebia Acquisition (TREBU)
Leadership: Bill Foley, Chairman of Cannae Holdings
SPAC Size: $450M
Target Industry: Financial Services or Technology
Target Company: Unknown
PSTH – Pershing Square Tontine Holdings (PSTH.U)
Leadership: Bill, Ackman CEO of Pershing Square
SPAC Size: $4B
Target Industry: “Mature Unicorn”
Target Company: Unknown
TWTC – TWC Tech Holdings II
Leadership: Adam Clammer and Jamie Greene are the founding partners of True Wind Capital. Mr. Clammer and Mr. Greene were founding partners of KKR's Global Technology Group in 2004.
SPAC Size: $525M
Target Industry: software, financial technology, industrial technology, healthcare IT, internet, semiconductors, and IT services
Target Company: Unknown
Analyst's Disclosure: I am/we are long JWS, IPOB, IPOC, BMRG, PSTH.
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