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The 2020s are on course to become the decade of the special purpose acquisition companies (SPACs), also known as blank check or shell companies. SPACs are set to outpace IPOs once again in 2021, after a record year that saw SPACs mature from a once obscure method of going public to a rabid, flavor-of-the-month frenzy amidst both institutional and retail investors.
The year of COVID-19 saw 227 SPACs top traditional IPOs for the first time in history, raising $76 billion, compared to 67 billion raised from traditional IPOs. The first two months of 2021 have so far generated 144 SPACs, raising $44 billion. Digital Health has certainly ridden the recent SPAC wave, with yet a few more splashes yet to come.
Better Days Ahead for Oaktree Acquisition (OACB), But Alphyn Capital is Prepared for a Black Swan
Alphyn Capital Management, an investment management firm, published its fourth-quarter 2020 Investor Letter – a copy of which can be downloaded here. A net return of 17.2% was recorded by the fund for the Q4 of 2020, above its S&P 500 benchmark that returned 11.7%. You can view the fund’s top 10 holdings to have a peek at their top bets for 2021.
Alphyn Capital Management, in their Q4 2020 Investor Letter said that they placed a new position in a Special Purpose Acquisition Company, Oaktree Acquisition Corp. II (NYSE: OACB), because of the its merger with Hims and Hers Ltd, a rising telehealth company. Oaktree Acquisition Corp. II is a blank check company that currently has a $322.5 million market cap. For the past month, OACB delivered a -0.88% return and settled at $10.32 per share at the closing of January 27th.
Hims & Hers, a San Francisco-based telehealth startup that sells sexual wellness and other health products and services to millennials, began trading publicly today on the NYSE after completing a reverse merger with the blank-check company Oaktree Acquisition Corp. Its shares slipped a bit, ending the day down 5% from where they started, but the […]
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Consumer telehealth and wellness brand Hims & Hers wrapped up its merger with special purpose acquisition company (SPAC) Oaktree Acquisition Tuesday, and today began trading on the New York Stock Exchange.
The deal was first announced in October, and was originally expected to close before the end of its Q4 2020. After Tuesday s approval, the deal has provided Hims with $279.5 million, $205 million of which comes as cash from Oaktree Acquisition Corp., and $75 million from the concurrent private placement of common stock priced at $10 per share. We drove tremendous progress in 2020 toward our mission of becoming the front door to the healthcare system, Andrew Dudum, CEO and cofounder of Hims & Hers, said in a statement. Today s milestone brings us even closer to making modern, affordable care accessible to more Americans. By providing a seamless patient experience combined with proprietary technology, we intend to transform many of healthcare’s most important catego
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