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In 2020, more than 400 companies began trading for the first time after completing a tedious initial public offering (IPO) process. However, many others such as QuantumScape (QS), an electric
Orthogonal Adds Leading Academics on SPACs and Corporate Governance From Harvard and Stanford as Advisors Professors Michael Klausner of Stanford and Guhan Subramanian of Harvard join advisory board of the Orthogonal SPAC Advantage Fund. News provided by Share this article Share this article NEW YORK, May 11, 2021 /PRNewswire/ -- Orthogonal, an asset management firm focused on legal and rule-driven investment opportunities, announced today the additions of Professor Michael Klausner of Stanford and Professor Guhan Subramanian of Harvard to the advisory board for its SPAC Advantage Fund. Profe...
Dealmaker Michael Klein’s fourth SPAC was a symbol of the mania around blank check companies when it announced a merger agreement with electric vehicle maker Lucid Motors in mid-February. Now it’s a symbol of the fall — and the most heavily shorted SPAC, or special purpose acquisition company, in the market. Rumors of the Lucid deal sent the SPAC soaring earlier this year at the peak of the frenzy. But Klein’s SPAC, Churchill Capital Corp. IV, quickly began to crash — falling from a high of $65 to around $20 Friday — and took the rest of the SPAC world with it.
Special Purpose Acquisition Companies (SPACs) – Part IV By Indexology; Jason Ye, Associate Director, Strategy Indices, S&P Dow Jones Indices In our previous blog, we’ve shown that SPACs tend to be small- and micro-cap companies that have low liquidity. Following the same framework, in this blog we will analyze SPACs’ performance. We found that relative to S&P SmallCap 600®, active SPACs underperformed when seeking the target, delivered abnormal returns during the deal announcement period, and underperformed again post-merger. SPACs’ Performance Peaks Leading Up to Announcement Day...
The initial public offer (IPO) of Nanofilm Technologies on the Singapore Exchange (SGX) may represent the same inflection point that the listing of Xero Technologies did for the Australian Securities Exchange (ASX). The listing of Xero in late 2012 laid the foundation for the ASX to establish its brand as an ‘“Asia-Pacific Nasdaq”. It has positioned itself as a bourse able to support the finance needs of growth-stage technology enterprises. So will Nanofilm’s listing in October 2020 enable the SGX to burnish itself as a platform for technology enterprises? In 2020, Singapore saw the n...