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Reuters ahead with key news on boom in SPACs

SPACs, or special purpose acquisition companies, were considered a backwater of the capital markets a decade ago. In 2020, they emerged as one of the most active areas on Wall Street – and Reuters has been keeping clients and readers ahead on the latest news.

The rise of SPACs has been driven by splashy deals for the likes of space tourism company Virgin Galactic Holdings, sports betting company DraftKings Inc and electric vehicle startups like Fisker Inc. This has made them an increasingly popular way for early-stage companies to list their shares instead of a traditional IPO. New SPAC managers like ex-Trump adviser Gary Cohn and former House Speaker Paul Ryan have also been attracted by the wildly lucrative payouts on offer if they can find a company with which to merge.

Among the news that Reuters delivered first and offered insight on:   EXCLUSIVE-Cannabis review site Weedmaps nears $1.5 bln deal to go public -sources  |  Read in EikonMarket reaction:  Shares of Silver Spike Acqusition Corp rose as much as 48% after Reuters was first with the news. ANALYSIS-Investors push back on blank-check company insiders’ payout bonanza  |  Read in Eikon EXCLUSIVE-Online lender SoFi explores deal to go public -sources  |  Read in Eikon   Foley-backed blank-check acquisition firm nears $9 billion Paysafe deal  |  Read in EikonMarket reaction:  Shares of Foley Trasimene Acquisition Corp II rose as much as 19% after Reuters was first to report the news. U.S. energy storage firm Stem nears $1.35 bln deal to go public -source  |  Read in EikonMarket reaction:  Shares of Star Peak Energy Transition Corp rose as much as 75% after Reuters was first with the news. Private equity firm Thoma Bravo raising blank-check acquisition vehicle -sources  |  Read in Eikon GigCapital2 to merge with 2 telehealth firms in $1.35 bln deal – sources  |  Read in Eikon   EXCLUSIVE-Used car consignment store CarLotz nears deal to go public -sources  |  Read in Eikon   EXCLUSIVE-Supply chain software firm E2open nears deal to go public -sources  |  Read in EikonMarket reaction:  Shares of CC Neuberger Principal Holdings I rose as much 10% following the Reuters report. EXCLUSIVE-TikTok rival Triller explores deal to go public -sources  |  Read in Eikon   EXCLUSIVE-Electric vehicle charge network ChargePoint nears deal to go public -sources  |  Read in EikonMarket reaction:  Shares in Switchback Energy rose 30% following the Reuters report. EXCLUSIVE-Playboy explores deal to return to the stock market -sources  |  Read in Eikon AEA, Bridges partner for $400 million blank-check company -sources  |  Read in Eikon ANALYSIS-Wall Street holds the cards as Main Street chases blank-check deal frenzy  |  Read in Eikon EXCLUSIVE-Payments firm Paya nears $1.3 billion deal to go public -sources  |  Read in EikonMarket reaction:  FinTech Acquisition Corp III rose as much as 4% following the Reuters report. Electric bus maker Proterra considers deal to go public -sources  |  Read in Eikon Hair loss treatment vendor Hims seeks deal to go public-sources  |  Read in Eikon EXCLUSIVE-Electric car maker Fisker eyes deal to go public -sources  |  Read in EikonMarket reaction:  Shares in Spartan Energy Acquisition Corp rose 40% following the Reuters report. EXCLUSIVE-Pershing Square’s Ackman eyes $1 bln-plus ‘blank-check’ company -sources  |  Read in Eikon Payments industry veteran Martire to seek $375 million for investment vehicle -source  |  Read in Eikon  
The post Reuters ahead with key news on boom in SPACs appeared first on Reuters News Agency.

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