SPACs Continue to Shine as Super Group Holding Co. Prepares to Go Public
2021-04-27 00:00:00
Brendan Fagan,
SPAC DEAL TALKING POINTS
The SPAC will trade on the New York Stock Exchange under the ticker symbol SGHC
The merger comes as high retail interest in SPACs fades, along with SPAC performance post-IPO
Super Group Holding Co. is set to list on the New York Stock Exchange following a merger with Sports Entertainment Acquisition Corp. (NYSE:SEAH), according to a statement released on Monday. Trading under the symbol SGHC, Super Group looks set to capitalize on frothy market conditions and high retail interest in SPACs. The recent retail mania, which is showing signs of dissipating, has thrust SPACs back into the limelight. To read more about the recent retail craze, please click here.
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While the surge in blank-check companies worries some investors, Mark Yusko of Morgan Creek Capital Management sees a good entry point for an actively managed exchange-traded fund to sort through the frenzy and bet on innovation.
The Morgan Creek – Exos SPAC Originated ETF, which began trading this week, will own between 50 and 100 special purpose acquisition companies, Yusko, Morgan Creek’s chief executive officer and chief investment officer, said in a phone interview. About one-third of the SPACS held by the ETF won’t have announced a merger, he said, with the balance having already agreed to a business combination.