SPAC Stock Ideas for Friday (and Beware the SPAC Short Sellers)
It may not feel like it, but the SPAC market may be on track to become healthier than ever. It s yield + optionality for the win. But, be careful as the field hasn t cleared yet and short sellers will make life hard for the SPACs and investors who buy into overly hyped financials and technology.
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Yesterday s SPAC deal announcements were met with a tepid response by the market.
D8 (DEH) was only up 0.9% to $10.07 on news of its deal to merge with Vicarious Surgical and
Consonance-HFW Acquisition Corp (CHFW)
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The global space market could hit $2 trillion by 2040 according to some industry estimates. Several privately held space companies are making their way to the public market, including several deals done via SPACs.
A recent space stock going public via SPAC is going unnoticed and could be the best in the industry.
The SPAC Deal: Redwire Space is set to go public with
Genesis Park Acquisition Corp (NYSE: GNPK) in a deal valuing the company at a pro forma value of $645 million.
Shareholders of Genesis Park Acquisition will own 24% of the company if the merger is approved.
According to the company’s presentation, “When space wins, Redwire wins.”
05:10 AM EST Share The Jacksonville-based company with plans to go public says it is ‘the pick-and-shovel provider for the new space gold rush.’
Most people view the 1960s and the race to the moon as the golden age of space travel.
Executives of Redwire LLC see the 2020s as a second golden age of space, and they expect their company to be a leader in this space race.
“We are the pick-and-shovel provider for the new space gold rush,” CEO Peter Cannito told investors in a conference call last week after Redwire announced a plan to go public.
Peter Cannito
SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of Genesis Park Acquisition Corp - GNPK troyrecord.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from troyrecord.com Daily Mail and Mail on Sunday newspapers.
FAST TURNAROUND: Redwire Seeks to go Public via SPAC swfinstitute.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swfinstitute.org Daily Mail and Mail on Sunday newspapers.