TPGY/EVBox Deal Falling Apart Would be a Big Blow to SPACs
The most concerning news is that the TPGY/EVBox SPAC deal may fall apart. Altimar s Blue Owl is expected to close May 19. Today s 3 IPOs traded down as expected.
Author:
This morning we discussed the 3 new IPOs that were set to trade today, and there were no surprises with each closing at or below NAV. Some thought probably more hoped than truly believed that
Catalyst Partners (CPAR), utilizing Goldman s shareholder friendly SOAR structure, would have traded up yet it closed down slightly.
It was an overall risk-off day in equity markets broadly, thus it s tough to read to much into day-1 closing prices. But, what is clear is that the market is not yet ready for more SPAC IPOs, and rather want the market to clear. So, the fast money IPO trade will remain a distant memory for the foreseeable future.
SPAC Market is Healthier Than Most Think
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15 SPAC Mergers in 30 Days
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The Pritzkers built an empire spanning hotels to manufacturing before agreeing two decades ago to split up their fortune among 11 descendants.
Karen Pritzker
Karen Pritzker, one of the heirs, has parlayed that wealth into venture capital, backing firms such as
Snap Inc. and
The Pritzker Vlock Family Office is the anchor investor for
Thimble Point Acquisition Corp., a special purpose acquisition company that raised almost $300 million in an initial public offering in February. Executives from the family office, named after Pritzker and her late husband