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.
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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.
Inflation News Hits SPACs, Pershing Square Tontine Surges
The 4% YoY CPI jump dominated market news and sent stocks and SPACs both sliding. Switchback s Bird deal flopped and Ackman boosted PSTH.
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The two deals announced this morning were a mixed bag, though both are still trading at significant discounts to NAV, and certainly lacking punch:
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+2.17% to $9.89
It s very tough to announce a deal in such difficult market conditions, so perhaps we will see CENH trade above NAV as equity markets recover. On a really tough day overall for stocks following this morning s CPI print, SPACs were not immune to the selloff. Current pre-deal SPACs are
AgileThought in Tampa to go public through a SPAC - Tampa Bay Business Journal bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
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NEW YORK, May 12, 2021 /PRNewswire/ Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm rated
Top 50 in the 2018-2020 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City, is investigating
LIV Capital Acquisition Corp. ( LIVK or the Company ) (LIVK) relating to its proposed acquisition by AgileThought, Inc. Under the terms of the agreement, LIVK will acquire AgileThought through a reverse merger, with AgileThought emerging as a publicly traded company.
The investigation focuses on whether LIV Capital Acquisition Corp. and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether the transaction is properly valued.