Last week featured eight announced SPAC deals. The week also had earnings from several well-known former SPACs.
Here is a look back at the week that was .
SPACs End Week on a High (Kind of)
The SPAC market is still stuck in a kind of stasis with most SPACs meaningfully below NAV, or for a rare few with deals fighting to stay above, but at least it didn t get worse today.
Author:
Investors saw the broader market rebound from a dismal few days with the S&P up 1.49% and the NASDAQ up 2.32% and even SPACs showed some lift. That said, the average pre-deal SPAC is still trading at $9.83 well below NAV.
Yesterday we pointed out that the pitchforks are out for Chamath and SPACs and today will have been a nice, if minor, respite for both.
Moore Kuehn Encourages LMNX, STPC, HCIC, and SOLY Investors to Contact Law Firm
News provided by
Share this article
Share this article
NEW YORK, May 14, 2021 /PRNewswire/ Moore Kuehn, PLLC, a law firm focusing in securities litigation located on Wall Street in downtown New York City, is investigating potential claims concerning whether the following proposed mergers are fair to shareholders. Moore Kuehn may seek increased consideration, additional disclosures, or other relief on behalf of the shareholders of these companies:
Luminex Corporation (NASDAQ: LMNX)
A proxy statement was recently filed with the SEC regarding DiaSorin s acquisition of Luminex. Upon completion of the proposed transaction, Luminex shareholders will receive $37.00 in cash per share. The investigation concerns whether Luminex s board of directors oversaw an unfair process and ultimately agreed to an inadequate price.
The recent SPAC deal momentum lacks any punch as 10 of 11 May deals are trading below $10. Today s deals (SWBK, CENH) not likely to break the trend. Expect more credit investors to join as it is all about yield now.