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The week kicked off with a large SPAC deal announced on Sunday, bringing a new global sports betting and online casino company public. Several other SPAC deals were announced throughout the week along with a couple rumors that could be worth a watch this week. Benzinga s SPACs Attack covered the deals and news of the week.
Here is a look back at the announced deals, rumors and some top headlines.
SPAC Deals
On Sunday, online sports betting and gaming company Super Group Holding, the owner of Betway and Spin, announced a SPAC deal with Sports Entertainment Acquisition Corp (NYSE: SEAH) valuing the company at $4.75 billion. Super Group is licensed in 23 jurisdictions with plans to use its scale and technology to expand into additional territories. In the 12-month period ending March 2021, Super Group had over $42 billion of wagers and 2.5 million monthly unique active customers.
Apr 28, 2021
Hope for positive deal flow and pops fizzled a bit today as both new SPAC deal announcements received disappointing reactions from the market.
Marquee Raine Acquisition Corp (MRAC) fell -0.3% to $9.89 and
Galileo Acquisition Corp (GLEO) fell -0.5% to $10.02. This continues yesterday s theme of underwhelming deal announcement enthusiasm.
It could still be the case of a back and forth broader stock market, fed speak, and investor attention focused on a deluge of corporate earnings. However, if I m a SPAC waiting to announce a deal based on market conditions then today s results don t instill confidence to move ahead.
Here s a look at how other recently announced SPAC deals ended the day:
Enjoy Sets Expansion Course With Merger; Plans To Become A Public Company forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
Enjoy Technology Inc., a startup that operates mobile retail stores focused on selling and helping users set up technology products, is going public through a merger with blank-check company Marquee Raine Acquisition Corp.