More Sovereign Wealth Fund SPAC Action, as GIC Sees Promise in View Inc
Posted on 01/11/2021
SPACs are giving life to profitless unicorns in the renewable sector, whether in electric vehicles or building supplies. Blank check company CF Finance Acquisition Corp. II (Nasdaq: CFII) (“CF II”) and Milpitas-based View, Inc. announced GIC Private Limited, Singapore’s sovereign wealth fund, has agreed to invest an additional US$ 200 million in the previously announced private investment in public equity (PIPE) issuance. The additional investment from GIC increases the fully committed PIPE investment from US$ 300 million to US$ 500 million.
On November 30, 2020, CF II, a special purpose acquisition company sponsored by Cantor Fitzgerald, and View, Inc., a Silicon Valley-based smart window company, entered into a definitive merger agreement. The transaction is now expected to deliver up to US$ 1 billion of gross proceeds including the contribution of US$ 500 million of cash held in C