Social Capital Hedosophia VI (NYSE:IPOF) stock is the latest SPAC (special purpose acquisition company) from investor Chamath Palihapitiya. Based on his strong track record, which includes past winners like Virgin Galactic (NYSE:SPCE), IPOF stock has been bid up to around $15 per share, representing a 50% premium to its offering price. The SPAC is yet to announce a merger deal. Bill Ackman’s SPAC, Pershing Square Tontine (NYSE:PSTH), is in a similar situation. Just like Social Capital, PSTH trades at a rich premium to its offering price, mainly based on the reputation of its sponsor. I don’t understand why anyone would pay a 50% premium for what amounts to a pile of cash. I prefer “buy a dollar for 50 cents” kinds of situations. But, given Palihapitiya’s Silicon Valley ties and his clout among retail investors, paying a premium for this SPAC may make more sense than paying one for Ackman’s SPAC.InvestorPlace - Stock Market News, Stock Advice &#
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/PRNewswire/ The law firm of Kessler Topaz Meltzer & Check, LLP alerts investors that a securities fraud class action lawsuit has been filed against Clover.
Astra Likely To Be of the Biggest Beneficiaries of Cathie Wood’s ARK Space Exploration ETF (ARKX) as the Orbital Launch Company Plans To Go Public by Merging With the SPAC Holicity (HOL) Feb 19, 2021 09:34 EST
Astra, the company trying to make low Earth orbital missions more affordable, has been garnering quite a lot of attention lately as it gears up to go public by merging with the Special Purpose Acquisition Company (SPAC) Holicity Inc. (NASDAQ:HOL).
The market currently has a healthy appetite for space-based startups such as Astra. As an illustration of this phenomenon, Cathie Wood’s ARK Invest is about to launch a dedicated Space Exploration ETF, dubbed the ARKX. In a recent filing, ARK Invest described the objective of the ETF:
BALA CYNWYD, PA / ACCESSWIRE / February 17, 2021 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of CF Finance Acquisition Corp. III ("CF III" or the "Company") (NASDAQ:CFAC) .