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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Israeli digital forensics startup Cellebrite DI Ltd. is the latest company set to go public via a special-purpose acquisition company through a merger with TWC Tech Holdings II Corp. in a deal that values the company at about $2.4 billion.
The deal involves Cellebrite obtaining $580 million, comprised of TWC Tech Holdings’ cash held in trust. TWC Tech Holdings’ shareholders will receive a combination of cash and stock in Cellebrite. The transaction also includes a private investment of about $300 million in Cellebrite from Light Street Capital, Makena Capital and Axon Enterprise.
Cellebrite intends to use the proceeds from the transaction to accelerate plans to pursue significant near-term growth opportunities, develop new customer solutions and expand its market reach. Founded in 1999, the company offers advanced mobile data solutions designed to enable the extensive use and management of mobile phone data for mobile lifecycle and mobile forensics.
Cellebrite, The Leading Digital Intelligence Solutions Provider, to List on Nasdaq Through Merger with TWC Tech Holdings II Corp.
Accelerate Justice and Preserve Privacy
Transaction Implies Pro Forma Equity Value of Approximately $2.4 Billion; Expected to Provide up to $480 Million of Gross Cash Proceeds to the Company; Includes a
Fully Committed $300 Million PIPE for the Purchase of Shares from Early Investors in the Company, Oversubscribed with Commitments from Strategic Investor Axon Enterprise, Inc. and Leading Institutional Investors Including Light Street Capital and Makena Capital
Transaction Seeks to Accelerate Cellebrite s Ability to Execute on Significant Near-Term Growth Opportunities in the Public Sector, Develop New Customer Solutions and Expand its Private Sector and End-Market Reach
Phone cracking firm Cellebrite to list on Nasdaq via SPAC merger timesofisrael.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesofisrael.com Daily Mail and Mail on Sunday newspapers.