The legal tussle around special purpose acquisition companies (SPACs) intensified on Friday as a group of U.S. law firms hit out against lawsuits last week that called for blank-check firms to be regulated as investment companies. SPACs are acquisition vehicles that use IPO capital to take a private company public, and can make investments and… Continue reading U.S. Law Firm Group Pushes Back on Lawsuits Calling for SPAC Regulation
Tag: SPAC
Self-Driving Truck Startup Embark to Go Public in $5.2 Billion SPAC Deal
Embark Trucks Inc. is merging with a special-purpose acquisition company to go public in a deal that values the self-driving truck startup at about $5.2 billion, the companies said. Founded in 2016, Embark says it is the oldest U.S. self-driving truck software firm and aims to partner with shippers to bring down carrier costs and… Continue reading Self-Driving Truck Startup Embark to Go Public in $5.2 Billion SPAC Deal
Hippo to Go Public in $5B Merger with Mark Pincus, Reid Hoffman-Backed SPAC
Hippo Enterprises will go public through a $5 billion merger with a blank-check firm backed by Silicon Valley heavyweights Reid Hoffman and Mark Pincus, in a sign of rising interest in the fast-growing “insurtech” sector. The deal, announced on Thursday, comes when the COVID-19 pandemic has forced the insurance sector to rely heavily on technology… Continue reading Hippo to Go Public in $5B Merger with Mark Pincus, Reid Hoffman-Backed SPAC
AmTrust CEO-backed SPAC Files for $300 Million IPO
A blank-check firm, backed by AmTrust Financial Services Chief Executive Officer Barry Zyskind, is looking to raise $300 million through an initial public offering, a regulatory filing showed on Friday. Pine Technology Acquisition Corp said it plans to sell 30 million units, made up of shares and warrants, priced at $10 per share on the… Continue reading AmTrust CEO-backed SPAC Files for $300 Million IPO