Last week featured five announced SPAC deals and several rumors. The week also had earnings from several well-known former SPACs. Here is a look back at the .
SPAC Deals and IPOE/SoFi Momentum
3 deals on Friday to close out the week, and IPOE surged into the weekend.
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10% to close on the news. It may be the positive endorsement (or short squeeze?) that could spark the market needed for SPAC M&A confidence. Especially since the market didn t exactly eat up the IPOF/Equinox rumor earlier this week. IPOE closed at $16.50.
IPOE, backed by Chamath Palihapitiya, is one of the more high profile SPAC mergers out there. The other media favorite, CCIV, climbed 2% today. Look out for a Lucid Motors appearance on SNL this weekend when Elon Musk is a guest host.
Electric startup Volta Trucks to expand model range By Syndicated Content
By Nick Carey
LONDON (Reuters) â Electric truck startup Volta Trucks said on Thursday it will add three new models for inner city zero-emissions deliveries to businesses and raised its sales forecast to 27,000 units annually by 2025.
Company founder Carl-Magnus Norden told Reuters the expanded model range â trucks in the 7.5-tonne, 12-tonne, 16-tonne and 19-tonne weight categories â is based on customer demands to add to its first model, the Volta Zero.
âCustomers have been coming to us asking forâ different sized vehicles, Norden said, âso we have an opportunity to be much more ambitious.â
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BURLINGAME, Calif., May 6, 2021 /PRNewswire/ Proterra Inc ( Proterra ), a leading innovator in commercial vehicle electrification technology, today announced the election of Joan Robinson-Berry to the company s board of directors.
A distinguished leader with extensive experience in the technology and engineering fields, Ms. Robinson-Berry recently retired from a 35-year career with The Boeing Company.
Ms. Joan Robinson-Berry
During her career with The Boeing Company, Ms. Robinson-Berry held leadership positions in global engineering, maintenance and modifications for all Boeing government and commercial product lines. Most recently, Ms. Robinson-Berry served as Senior Vice President and Chief Engineer for Boeing Global Services where she was responsible for product and services safety, technical integrity and engineering. Ms. Robinson-Berry previously held roles including Vice President and General Manager of Boeing South Carolina and
Warren Buffett Piles on SPACs and CF Finance Lowers Deal Valuation
It was a bad day for SPACs as Warren Buffett piled on SPACs; CF Finance lowered their deal valuation with AEye; and today s MAAC deal had no pop.
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May 3, 2021
Stocks were mixed on Monday, the S&P500 was up / NASDAQ down, though this morning s SPAC M&A deal (MAAC) once again underperformed. MAAC closed up just 0.9% and below NAV at $9.95 marking yet another disappointing day-1 pop for newly announced SPAC M&A.
Warren Buffett and Charlie Munger held Berkshire Hathaway s much watched virtual annual meeting over the weekend, and one of the talks of the town today (aside from naming his CEO successor) was his view on killer SPACs: