Acorns Set to Go Public via SPAC Deal with Pioneer Merger Corp
2 hours ago by Benjamin Godfrey · 3 min read
Photo: Acorns
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Beyond its SPAC merger, Acorns will have to navigate the terrain to gain a good market stance amidst stifling competition.
Fintech startup Acorns Grow Inc is planning to make its public debut through a merger deal with a publicly-traded Special Purpose Acquisition Company (SPAC), Pioneer Merger Corp (NASDAQ: PACX). According to a report by CNBC, the deal values Acorns which runs a savings and investment product at $2.2 billion, with the deal expected to close sometime later in the second half of the year.
‘The four most dangerous words in investing are, “it’s different this time”.’
At least that’s according to the wisdom of the late Sir John Templeton, American-born British investor, banker, and fund manager.
Sir John’s words may be resonating with many in the investment community given the recent boom in coverage of Special Purpose Acquisition Company (SPACs), so much so they may seem as novel as non-fungible tokens (NFTs… the latest investment craze of 2021) even though SPACs themselves have been around for twenty years.
Simply put, a SPAC is a company with no commercial operations that is formed strictly to raise capital through an IPO for the purpose of acquiring an existing company.
Fintech Unicorn Stash Is Weighing Options for Going Public yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
<p><span>Nasdaq (Nasdaq: NDAQ) announces that trading in Aligro Planet Acquisition Company AB’s shares (short name APAC SPAC A) commences today on the Nasdaq Stockholm Main Market. The company (also called APAC) belongs the Financials segment and is the 59</span><span>th</span><span> company to be admitted to trading on Nasdaq’s Nordic markets in 2021.</span></p>