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NEW YORK, May 29, 2021 /PRNewswire/ Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm rated
Top 50 in the 2018-2020 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City, is investigating
Fintech Acquisition Corp. IV ( FTIV or the Company ) (FTIV) relating to its proposed acquisition of Perella Weinberg Partners. Under the terms of the agreement, FTIV will acquire Perella through a reverse merger, with Perella emerging as a publicly traded company.
The investigation focuses on whether Fintech Acquisition Corp. IV and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether the transaction is properly valued.
NEW YORK, May 29, 2021 /PRNewswire/ Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm rated Top 50 in the 2018-2020 ISS. | May 29, 2021
SPAC IPOs Mixed, DCRN Deal Slightly Rises, IPOE/SoFi Up Next
IPOE fell ahead of its vote tomorrow, while DCRN rose slightly on its deal with Tritium. Of today s SPAC IPOs: 1 rose, and 2 fell.
Author:
This morning
Decarbonization Plus II (DCRN) announced a deal to take Tritium, an Australian EV charge company, public in a $1.4B SPAC deal. The deal has no PIPE and they currently have $403M in trust. The market was, somewhat, pleased with the deal as DCRN rose modestly +1.4%, though it still trades at a sizable discount to NAV at $9.79. This represents
a potential ~6% yield opportunity if you believe that the deal vote (when an investor could redeem its shares) happens within ~4-6 months.
SPACs Close Down Again on a Sleepy Friday
SPACs closed down on the day again, with the average pre-deal SPAC trading at $9.80. No new deals today, with just 4 announced on the week.
Author:
It s definitely been a sad May for SPACS with little good news to get investors excited. That being said, we continue to reiterate our view that the slowdown is positive for the longterm health of the broader SPAC market.
Little activity today with no new mergers getting announced, and just one new IPO traded with
Graf Acquisition Corp. closing down 0.7%. SPACs slid lower, once again, and the average pre-deal SPAC is now trading at $9.80 a steep discount to NAV.