1/23/2024 0 Comments Scribd ipo q4 spacThis team is a bit old-school when compared with flashy 30-something SPAC leaders, but consider this a strength. Beside him as head of business development is Jeffrey Kaplan, a veteran dealmaker and the former head of M&A at Merrill Lynch. ( AAQC.U, $10.02).įirst, there's Accelerate's CEO Robert Nardelli, former chief of both Chrysler and Home Depot ( HD) who also helped oversee dozens of acquisitions while at the helm of GE Transportation and GE Power Systems. If you're looking for a SPAC that's headed up by some big names from the C-suite, then look no further than Accelerate Acquisition Corp. says in its recent annual report, "Our management team believes that its unique access to technology assets, coupled with a demonstrable SPAC track record, will be central to its differentiated investment strategy."Īt the end of March, it was rumored that 7GC could be looking at digital media icon Vice Media, which seems the kind of flashy, tangentially tech-related company right up VII's alley. Throw in staff from Uber Technologies ( UBER) executive leadership, and you have the perfect mix for a buzzworthy SPAC looking to make a disruptive deal. It's a partnership between 7GC, a boutique technology-focused venture capital fund, and serial SPAC issuer Hennessy Capital Investment that has successfully rolled out five blank check entities – including Hennessy Acquisition I, which went public in January 2014 and acquired school bus maker Blue Bird ( BLBD) in February 2015, well before the current SPAC craze. During the first three months of 2021, less than five percent of SPAC IPOs completed globally came from Europe.7GC & Co Holdings ( VII, $9.84) is pretty exemplary of the kinds of firms you'll find on this SPAC list. have increased more each year, reaching a significant high-point in 2020 that is expected to be further surpassed by the end of 2021. Europe has still not seen annual SPAC IPO numbers exceed nine per year, while those in the U.S. have been slowly increasing over the past six years, numbers have remained significantly lower in Europe. In the previous year, SPAC IPOs raised more funds than all preceding years combined. SPAC IPOs raised the largest amount of funds between January and December 2021, with the value of funds raised surpassing 160 billion U.S. How have SPAC IPOs historically performed in the U.S.?įrom 2003 to 2019, the funds raised by SPAC IPOs remained somewhat consistent, with the value of funds never exceeding 11 billion U.S. In comparison, there were 86 SPAC IPOs in 2022, a significant decrease compared to the last two years. ranked second globally in terms of traditional IPO numbers, with the highest number of traditional IPOs occurring in mainland China. A special purpose acquisition company (SPAC) is a company with no business operations which is set up for the sole purpose of raising capital through an initial public offering with the goal of buying an existing company. In 2021, SPACs had raised capital in 613 IPOs in that year alone. 20 were a record year for SPAC IPO filings, even though they had been steadily growing in popularity over the last decade.
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