The Nightcap from SPAC Track
Nightly recap of the day's SPAC highlights (May 20th, 2021)
May 20th, 2021
Good evening,
Thanks for reading “The Nightcap”, a nightly recap of the highlights of the SPAC world. You can always discover and track all of the SPACs at spactrack.net.
The Stats:
The Deals:
1) DPCM Capital, Inc. (XPOA) & Jam City
$1.2B EV
$100M PIPE
Deal News Reports:
None today.
New S-1 Filings:
1) InFinT Acquisition Corp (IFIN)
$175M, 1/2 warrant
Focus: Fintech
IPOs to Begin Trading Tomorrow:
1) Graf Acquisition Corp. IV (GFOR-U)
$150M, 1/5 warrant
Sponsor’s Previous SPAC Activity: Graf Acquisition Corp (GRAF) merged with Velodyne Lidar (VLDR) last September. VLDR closed the day at $10.29.
Notable SPAC News:
1) Ford Is Considering Divesting Electric-Scooter Unit Spin (Bloomberg— behind paywall)
Ford Motor Co. is considering divesting its electric scooter-sharing service Spin, according to people familiar with the matter.
The company is working with an adviser to examine strategic options including a sale or spinoff of the unit, said the people, who asked not to be identified because they weren’t authorized to speak publicly. It could also look to merge the unit with a special purpose acquisition company, the people added.
Ford acquired Spin in 2018. The company operates dockless electric scooters on campuses and cities in North America and Europe, according to its website.
No final decision has been made and Ford could opt to keep the unit, they said.
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