SPAC Market Continues Recovery & Biggest SPAC Discounts for Thursday
The SPAC market has come back to an equilibrium where pre-deal SPACs trade close to NAV, good deals get rewarded, post-announcement execution can drive big returns, and strong IPOs could see high demand and a little pop too.
Author:
Apr 8, 2021
SPAC investors should be pleased with how the SPAC market went from peak SPAC just a few months ago to operating efficiently. There is still more to get cleared out and any combination of bad deals, silly IPOs, or bad news could change the mood, but for now investors will have confidence in the way it is operating.
Space-based cellular broadband network provider
AST SpaceMobile is the latest special purpose acquisition company (SPAC) to go public after it completed its combination with
New Providence Acquisition Corp. AST SpaceMobile common stock and warrants will now trade on the Nasdaq exchange under the ticker symbols ASTS and ASTSW, respectively.
Speaking on a webinar hosted by
SpaceNews and
Quilty Analytics, AST SpaceMobile CEO Abel Avellan said the company took the SPAC route to its IPO so that it could bring its services to market more quickly. “The SPAC gives us the capital we need to proceed in a more timely manner and hit our target dates,” said Avellan. “It also allows the public to get more directly involved in what we’re doing as investors, which I think is a good thing for everyone.
The second largest initial public offering of the year, TerraForm Global (NASDAQ: GLBL), is set to begin trading the week of July 27. The company anticipates its offering to price 56.57 million shares between $19 and $21 per share on the NASDAQ. At its midpoint, it would have a market cap of $1.. Read More.
AST SpaceMobile Goes Public, Enters Maritime Partnership with OneWeb satellitetoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from satellitetoday.com Daily Mail and Mail on Sunday newspapers.
AST SpaceMobile (NASDAQ: ASTS) made its Nasdaq debut on Wednesday. The company went public via special purpose aquisition company (SPAC) New Providence Acquisition Corp (NASDAQ: NPA) with an estimated post-transaction enterprise value of $1.4 billion.
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