Posts filtered by tags: SPAC[x]


Tom Barrack's SPAC withdraws its IPO filing days after the billionaire was arrested and charged with illegal lobbying

Thomas Barrack Alex Wong/Getty Images The SPAC backed by Thomas Barrack withdrew its IPO application with the SEC on Friday. The move comes days after the billionaire was arrested and charged with seven felony counts. Falcon Acquisition had filed for a $250 million IPO in March with the goal of targeting tech-driven businesses. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. The blank-check company backed by billionaire Thomas Barrack withdrew its application for...
Tags: Los Angeles, Trends, SEC, Donald Trump, Securities And Exchange Commission, Trump, SPAC, Colony Capital, Barrack, Tom Barrack, Thomas Barrack, Sylmar California, Isabelle Lee, Matthew Grimes, Rashid Sultan Rashid Al Malik Alshahhi, United Arab Emirates Barrack

Lucid Motors’ SPAC merger approved after executives issue plea to shareholders to vote

Shareholders approved Friday EV startup Lucid Motors’ merger with special purpose acquisition company Churchill Capital IV, after the companies extended the deadline by one day because not enough retail investors showed up to cast their vote. The issue is an unusual but could become more common as more companies eschew the traditional IPO path to public markets and instead merge with SPACs.  The hiccup occurred on Thursday, when shareholders voted to approve all but one of the proposals as par...
Tags: Transportation, Amc, Tech, Automotive, Electric Vehicles, Reddit, Private Equity, Morgan Stanley, Robinhood, Churchill, Gamestop, Lucid, SPAC, Michael Klein, Klein, Lucid Motors

Billionaire Thomas Barrack-Backed SPAC Withdraws IPO Filing

(Reuters) - Falcon Peak Acquisition Corp, a blank-check company backed by former U.S. President Donald Trump's billionaire ally Thomas Barrack, on...
Tags: Donald Trump, SPAC, Thomas Barrack, Reuters Falcon Peak Acquisition Corp

After going public via a SPAC, Taboola acquires e-commerce marketing network Connexity for $800M

Taboola, the company that operates a popular grid-based advertising and content recommendation network across media properties, today announced an acquisition to expand its reach further into e-commerce, its first big move since going public in June by way of a SPAC: it is paying $800 million in a combination of cash and stock to buy Connexity, a marketing technology company that operates an retail- and e-commerce-focused advertising network. Connexity has been owned by Symphony Technology Partn...
Tags: Ecommerce, Media, US, Affiliate Marketing, Tech, Commerce, M&a, Influencer Marketing, Connexity, Taboola, Outbrain, SPAC, Otto, EBITDA, Shopzilla, Adam Singolda

United States: SPAC Founders, Beware: SEC Targets Founders Shares - Jones Day

The Securities and Exchange Commission ("SEC") charges a special purpose acquisition company ("SPAC"), its CEO, and sponsor, as well as the merger acquisition target...
Tags: News, United States, SEC, SPAC, Securities and Exchange Commission SEC

3D tour giant Matterport makes its stock market debut

The company will begin selling shares via a SPAC merger at a moment when interest in 3D tours is surging — and when more competitors are inching onto Matterport's turf.
Tags: Facebook, Technology, Radio, Stock Market, Nasdaq, Zillow, Matterport, Tiger Global Management, SPAC, Spencer Rascoff, Markets & Economy, Select, Opendoor, Dragoneer, RJ Pittman, Offerpad

Commercial EV company Arrival to build electric buses for Anaheim

Arrival, the commercial electric vehicle company that is shaking up the traditional auto production line with AI-run microfactories, has been chosen to build electric buses for the City of Anaheim, California. The Federal Transportation Administration awarded Anaheim a $2 million grant in 2019, and on Thursday the city’s transportation network announced the plan to partner with Arrival to achieve its goal of running California’s first all-electric bus fleet by 2025. The U.K.-based company said A...
Tags: Transportation, California, Tech, UPS, Automotive, Disneyland, Anaheim, SPAC, Charlotte North Carolina, Rock Hill South Carolina, Anaheim California, Federal Transportation Administration, Arrival, Electric Buses, Mike Ableson, Denis Sverdlov

You’re Nobody If You’re Not Settling Some Allegation Of Wrongdoing Before Going Public

No lame-o’s allowed in the cool kids SPAC club.
Tags: Law, Finance, SPAC, ATL Finance, Finance Docket

Bitcoin mining firm Core Scientific is going public via SPAC in a $4.3 billion deal

Lars Hagberg/Getty Images Crypto mining firm Core Scientific is going public via a SPAC in a deal that values the combined entity at $4.3 billion. The mining firm will merge with Power and Digital Infrastructure Acquisition Company. Core Scientific operates proprietary mining facilities and hosts digital asset mining hardware for customers. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Core Scientific, one of North America's largest crypto miners, is going...
Tags: US, Trends, Markets, Bitcoin, Mining, Crypto, North America, Blackrock, SPAC, Bitcoin mining, Crypto Mining, Lars Hagberg, Emily Graffeo, Getty Images Crypto, MI Exclusive, Core Scientific

Zoom may invest in a $5 billion SPAC deal to take event-manager Cvent public, report says

Kena Betancur/Getty Images Zoom is a potential investor in a SPAC deal that could take Cvent public, Bloomberg reported. The video-conferencing group is apparently vying for a 10% stake. Zoom recently announced a $14.7 billion deal to acquire Five9 in its biggest acquisition yet. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Zoom is in discussions to invest in a $5 billion blank-check deal that would take event-management software company Cvent public, Bloomber...
Tags: Trends, Bloomberg, SPAC, Cvent, Kena Betancur Getty, Shalini Nagarajan, Opening Bell Zoom, Dragoneer Growth Opportunities Corp, Zoom Phone Zoom Room

US stocks could tumble 15% in a rough fall - and the bitcoin bubble could deflate further this year, Guggenheim's Scott Minerd says

Guggenheim Investments Global Chief Investment Officer Scott Minerd. Milken Institute US stock prices and bond yields could decline further this fall, Scott Minerd told Bloomberg. Fears that the delta variant will cause the economy to weaken could see US stocks fall 15%, he said. Minerd said "there's still more air to come out" of the bitcoin bubble. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US equities could drop 15% by the end of October, driven lower ...
Tags: US, Trends, Bloomberg, Treasury, Federal Reserve, Dow Jones, Guggenheim, SPAC, Scott Minerd, COVID, Minerd, Shalini Nagarajan, Guggenheim Investments Global, Milken Institute US, Bloomberg Fears, Minerd He

United States: The SEC Pursues Action Against SPAC And Insiders For Misleading Investors - Mayer Brown

On July 13, 2021, the US Securities and Exchange Commission ("SEC") announced charges against a special purpose acquisition company ("SPAC"), the proposed merger target company in the...
Tags: News, United States, SPAC, Mayer Brown, US Securities and Exchange Commission SEC, SEC Pursues Action Against SPAC

Bitcoin rises 10% as Elon Musk, Jack Dorsey, and Cathie Wood gather to discuss the volatile cryptocurrency

David McNew/AFP via Getty; ARK Invest; Patricia De Melo Moreira/AFP via Getty; Bitcoin; Samantha Lee/Insider Bitcoin jumped as much as 10% on Wednesday as Elon Musk, Cathie Wood, and Jack Dorsey talked crypto at The B Word conference.Musk, Wood, and Dorsey all advocated for the cryptocurrency and talked about its future potential.Bitcoin reclaimed the key support level of $30,000 and traded as high as $32,415 on Wednesday.Sign up here for our daily newsletter, 10 Things Before the Opening ...
Tags: Trends, Markets, Bitcoin, Stockton, Crypto, Trading, Getty, Jack Dorsey, Wood, Technical Analysis, Dorsey, SPAC, Matthew Fox, David McNew, Katie Stockton, Bitcoin Price

Cryptocurrencies can be valued based on network size just like social media companies employ metrics like monthly active users, Goldman Sachs says

INA FASSBENDER/AFP via Getty Images Cryptocurrencies can be valued on the basis of their network size, Goldman Sachs said. Prices may be related to a network of users, just as Facebook counts active users, a note said. The team used blockchain addresses to work out network sizes for eight cryptocurrencies. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Correctly valuing cryptocurrencies is complex, given their lack of tangible fundamentals. While digital assets ...
Tags: Facebook, Trends, Crypto, Goldman Sachs, SPAC, Metcalfe, Zach Pandl, INA FASSBENDER AFP, Shalini Nagarajan, Isabella Rosenberg

How WeWork’s Adam Neumann made a pigeon look like a swan

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. For this week’s deep dive, Alex and Natasha took a trip down memory lane to the great WeWork saga. We had WSJ reporter and author Eliot Brown on the show to chat about his new book, The Cult of We, written with his colleague Maureen Farrell. You can snag it here if you haven’t already. Brown and Farrell were key reporting voices during WeWork’s rise, and fall, cove...
Tags: Apple, TC, Tech, WeWork, Equity, Alex, WSJ, Brown, SPAC, Farrell, Natasha, Adam Neumann, Maureen Farrell, Equity podcast, Eliot Brown

Apps and video games are changing the way we treat diseases. Experts say they're prime M&A targets for telehealth firms.

BI Graphics A patient uses Pear's reSET-O app to treat opioid use disorder. Pear Therapeutics Apps and video games that can treat health conditions nabbed $1.2 billion in VC dollars in 2019. Only a few commercial products have been launched so far, and they're struggling to penetrate the healthcare system. Experts say this field is primed for consolidation and could be a great target for telehealth firms. This article is part of a series called "Future of Healthcare,...
Tags: Digital, US, Trends, Food And Drug Administration, Novartis, Pharma, Pear, Boston Globe, SPAC, Sanofi, Dina Rudick, Eddie Martucci, Akili Interactive, Akili, Pear Therapeutics, ZS Associates

Crypto Miner Core Scientific to Go Public Via $4.3 Billion SPAC Deal

(Reuters) -Core Scientific Holding Co said on Wednesday it would go public through a merger with a blank-check company backed by BlackRock Inc, in...
Tags: SPAC, BlackRock Inc, Crypto Miner Core Scientific, Reuters Core Scientific Holding Co

Billionaire investor Bill Ackman laments his nixed SPAC deal, sounds the inflation alarm, and predicts a massive economic boom in a new interview. Here are the 12 best quotes

Bill Ackman. Mike Blake/ Reuters Bill Ackman discussed his SPAC deal's demise and said he's already eyeing substitute targets. The Pershing Square chief predicted higher interest rates and a post-pandemic economic boom. Ackman also rang the inflation alarm, pointing to soaring house prices and rising wages. See more stories on Insider's business page. Bill Ackman bemoaned his nixed SPAC deal, hinted he already has alternative targets in mind, and predicted a massive economic bo...
Tags: Trends, Netflix, SEC, Bill Ackman, Cnbc, Nyse, SPAC, Universal Music Group, Pershing Square, Ackman, Theron Mohamed, PSTH, Bill Ackman Mike Blake Reuters Bill Ackman, Federal Reserve Short

Extra Crunch roundup: Seed stage basics, SaaS marketing live chat, Zoom’s Five9 buy

A famous poem advises us not to compare ourselves with others, “for always there will be greater and lesser persons than yourself.” The same holds true for startup fundraising; the size of your seed round will be determined solely by your company’s immediate needs and the investors you’re working with. “Remember that fundraising is not the goal,” says three-time YC alum Yin Wu. “Building a successful business is.” Full Extra Crunch articles are only available to members Use discount code ECFrid...
Tags: Startups, TC, London, Entrepreneurship, Tech, Intellectual Property, Alex, Robinhood, Duolingo, Citi Ventures, Angellist, Alex Wilhelm, Citi, SPAC, Emily, Natasha

Nearly 600 IPOs rolled out globally in the second quarter, dominated by traditional listings while SPAC activity cooled, says EY

Didi Global shares went public in the US in June. Xin Yue/ via Getty Images 597 IPOs came online in the second quarter of 2021, the busiest quarter for that market in 20 years, said EY. There were 59 SPAC IPOs during the period, a slowdown from 299 during the first quarter. But SPAC activity is poised to pick up again in the second half of 2021. See more stories on Insider's business page. The second quarter of 2021 marked the most active for companies entering the pu...
Tags: China, US, Trends, Investing, Markets, Ey, Stock Market, IPO market, SPAC, US Securities and Exchange Commission, VCG, Carla Mozee, Didi Chuxing, Xin Yue Huanqiu, MI Exclusive, SPAC activity

Billionaire investor Bill Ackman said the US economy will see a 'massive' economic boom in the fall despite the Delta variant

REUTERS/Brendan McDermid Bill Ackman told CNBC on Monday the economy will see a "massive" boom in the fall despite COVID-19's Delta variant. The hedge fund manager cited trillions in stimulus, an increase in wages, and the rise in vaccinations. Last month, JPMorgan said the spread of the Delta variant does not post a risk to the stock market. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Billionaire hedge fund manager Bill Ackman told CNBC on Monday the...
Tags: US, Trends, Markets, Delta, Bill Ackman, Cnbc, Jpmorgan, SPAC, Ackman, COVID, Stock Market Outlook, Emily Graffeo, US economic forecast, Pandemic Economy, Pandemic And Stocks, MI Exclusive

WeWork founder Adam Neumann once argued to Elon Musk that getting to Mars would be easy but "building community" there was the hard part, new book says

Former WeWork CEO Adam Neumann. Michael Kovac/Getty Images for WeWork WeWork founder Adam Neumann told SpaceX CEO Elon Musk getting to Mars was easy, a new book says. "The Cult of We" adds that Neumann said building community on the Red Planet was the hard part. Musk "was unimpressed and lectured Neumann," who wanted to collaborate on Mars plans, the book says. See more stories on Insider's business page. WeWork founder Adam Neumann has some unconventional thoughts about space, a new b...
Tags: Apple, Space, Spacex, Elon Musk, Real Estate, Cook, Softbank, US, Trends, Airbnb, WeWork, Mars, Son, Blackstone, Brian Chesky, Musk

Pillar VC closes $192M for two funds targeting SaaS, crypto, biotech, manufacturing

As its name suggests, venture firm Pillar VC is focused on building “pillar” companies in Boston and across the Northeast. The Boston-based seed-stage firm closed a raise of $192 million of capital that was split into two funds, $169 million for Pillar III and $23 million for Pillar Select. More than 25 investors are backing the new fund, including portfolio founders. Jamie Goldstein, Sarah Hodges and Russ Wilcox are Pillar VC’s three partners, and all three lead investments for Pillar. The trio...
Tags: Amazon, Startups, TC, Enterprise, Boston, Funding, Venture Capital, Cryptocurrency, PillPack, Accel, Pluralsight, Circle, SPAC, Russ Wilcox, Hodges, Wilcox

Metal 3D printing company Fabric8Labs raises $19M

Fabric8Labs this morning announced that it has raised $19.3 million. The Series A was led by Intel Capital and features Lam Capital, TDK Ventures, SE Ventures, imec.xpand, Stanley Ventures and Mark Cuban. It follows $4 million in seed funding raised in mid-2018. The San Diego-based startup specializes in metal 3D printing. It’s a hot category, of late, as evidenced by Desktop Metal and Markforged’s decisions to go public via SPAC over the past two years. Fabric8Labs says lower cost and less ener...
Tags: Startups, Metal, Hardware, Funding, 3d Printing, San Diego, Intel Capital, Additive Manufacturing, SPAC, Herman, Desktop Metal, Jeff Herman, MarkForged, Stanley Ventures, Fabric8Labs, Recent Funding

Daily Crunch: In all-stock transaction, Zoom to purchase Five9 for $14.7 billion

To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Hello and welcome to Daily Crunch for July 19, 2021. In the old days, venture capital had seasons. VCs didn’t work in December, and the July-August period could be a bit hazy. Such variations have declined. Deal-making, it turns out, is now pretty much the theme for all seasons. Evidence? Just read what’s below! — Alex The TechCrunch Top 3 Rappi raises $500M: Th...
Tags: TC, China, Russia, Tech, Cnn, Fbi, United States, Dover, Robinhood, Latin America, Jones, Duolingo, SPAC, Carlyle, Newsletters, Microsoft Exchange

Velodyne Lidar CEO resigns in latest internal drama

Velodyne Lidar CEO Anand Gopalan is leaving the lidar company at the end of July as the sensor supplier continues to struggle with internal drama. Gopalan, who was previously CTO, is leaving the top leadership position after about a year and a half on the job. Velodyne said Monday in a statement that a team of top executives that includes COO Jim Barnhart, CFO Drew Hamer, Chief People Officer Kathy McBeath and Chief Commercial Officer Sinclair Vass will run the company as a search for a new chie...
Tags: TC, Transportation, Tech, Automotive, Ford, Argo, Lidar, Hall, Cto, David Hall, SPAC, Nikon Corp, Gopalan, Argo AI, Princeton Lightwave, Marta Thoma Hall

Dow plunges as much as 935 points as fears grow over spread of COVID-19 Delta variant

JOHANNES EISELE/AFP via Getty Images US stocks fell sharply to start the week as investors grow concerned about the global spike in COVID-19 cases. The 10-year Treasury yield fell 8.2 basis points to 1.217%. Cryptocurrencies, gold, and oil were all trading lower. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US stocks fell sharply Monday as investors eye a spike in global COVID-19 cases led by the Delta variant, creating a roadblock to a full recovery of the ec...
Tags: Saudi Arabia, US, Trends, Opec, Delta, Treasury, Goldman Sachs, Bill Ackman, Morgan Stanley, Nasdaq, Robinhood, Dow Jones, Securities And Exchange Commission, SPAC, Michael Wilson, Johannes Eisele

Bill Ackman Calls Off SPAC Deal for Universal Music Group

Billionaire investor Bill Ackman announced early Monday that he has decided not to use his SPAC to acquire a 10% stake in Universal Music Group after the Securities and Exchange Commission voiced concerns about the the complicated agreement, which would have been the biggest SPAC transaction to date. However, Ackman plans to use his hedge fund […]
Tags: News, Bill Ackman, Securities And Exchange Commission, SPAC, Universal Music Group, Ackman

Live: Jim Cramer on Oil, Zoom, Bill Ackman Monday's Market Selloff

Jim Cramer discusses Monday's market selloff, Bill Ackman's dropped SPAC plan, oil prices, Zoom and much more in Monday's live video interview.
Tags: Bill Ackman, SPAC, Jim Cramer