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Seth Klarman added significantly to his SPAC portfolio in the fourth quarter.
The billionaire founder of Baupost Group pumped hundreds of millions into blank-check companies.
Klarman has now invested in SPACs run by Dan Och, Dragoneer CEO Marc Stad, and more.
Legendary value investor Seth Klarman has found a new favorite bet: SPACs.
The Boston-based billionaire pumped $195 million into a half-dozen special-purpose acquisition companies in the fourth quarter, a new regulatory filing shows. Baupost Group, the more-than-$30-billion hedge fund run by Klarman, put money in SPACs run by hedge-fund billionaire Dan Och, Dragoneer CEO Marc Stad, and Egyptian billionaire Nassef Sawiris, among others.
Feb 12, 2021 07:40 EST
Shares of blank cheque company Reinvent Technology Partners (RTP) (NYSE:RTP) are up by 9% in premarket trading as a report of its merger with Santa Cruz, California-based electrical vertical take-off and landing (eVTOL) aircraft firm Joby Aviation surface. The report, courtesy of The Financial Times, states that RTP and Joby are finalizing the final financing of the deal, which could be announced later this month and result in a valuation of $5.7 billion for Joby.
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Joby Aviation Likely To Finalize Merger With Reinvent Technology Later This Month With A $5.7 Billion Valuation
If the merger follows through then the deal will have resulted in Joby becoming a publicly-traded company on the New York Stock Exchange (NYSE) while it is in its early stages of operations. As opposed to most companies that take the public route via initial public offerings with an operational business model, Joby, like some other firms choosing special purpose acquis
Insurtech Hippo in Talks to Go Public via Merger With SPAC: Bloomberg
Hippo, an insurance technology startup, is in talks to go public through a merger with a special purpose acquisition company, according to people with knowledge of the matter.
The transaction with Reinvent Technology Partners, a special purpose acquisition company that counts Zynga Inc. founder Mark Pincus and LinkedIn co-founder Reid Hoffman as its lead directors, is set to value the combined entity at more than $5 billion, according to one of the people, who requested anonymity because the talks are private. Terms could change or talks may fall apart.
Hippo is in discussions to merge with a Special Purpose Acquisitions Company (Spac) in a deal that would value the InsurTech at over $5bn, according to a report on Bloomberg.