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Here’s the Recent SPAC Acquisitions You Need to Know About Before 2021

By: Bullish

💉 While it may have been a shorter week on markets due to the holiday weekend, it didn’t exactly feel that way for shareholders of Moderna. $MRNA , one of a dozen such COVID-19 vaccine producers, jumped over 33% last week. The FDA is expected to review vaccine data from pharmaceutical companies which have submitted for emergency approval such as $MRNA and $PFE in the next two week.

🤝 SPACs continue to have their moment. On Friday, four SPACs made our Rippers list. It also just so happens they connect into the data or energy space. These SPACs include Apex Technology Acquisition Corporation, RMG Acquisition Corp, Pivotal Investment Corporation II and Gores Metropoulos, Inc. All four of these SPAC acquisitions are expected to close in early 2021, replacing shares of the SPAC with shares in the newly IPOed company they’re acquiring:

➡ $APXT surged over 29% on the news of their merger with AvePoint, one of Microsoft 365’s biggest solutions providers.

➡ $RMG rose 20% as investors continued to pile into the stock. This follows the news they would acquire Romeo Power, a designer and manufacturer of lithium-ion battery modules and packs.

➡ $PIC similarly rose as investors pile into the SPAC, sending shares climbing over 16%. This follows the September announcement $PIC would acquire the electric truck company XL Fleet.

➡ $GMHI rose 13% on our Rippers list today. This jump follows news in August of their acquisition of Luminar, a designer and manufacturer of LIDAR equipment. LIDAR is expected to be a component of autonomous vehicles, which makes Luminar a really interesting acquisition. However, some ardent critics of LIDAR like Elon Musk say it will not be sufficient.

The post Here’s the Recent SPAC Acquisitions You Need to Know About Before 2021 appeared first on Bullish.

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