Aeva Reports First Quarter 2021 Results – Consumer Electronics Net consumerelectronicsnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from consumerelectronicsnet.com Daily Mail and Mail on Sunday newspapers.
SPAC Momentum? 3 New Monday Deals
Three Monday morning SPAC deals (HCIC, STPC, LIVK) carry over Friday s quantity-based momentum, but will investors be excited and deliver any deal pops?
Author:
Three SPAC deals kick this morning off carrying over momentum from Friday s 3 deals. Friday s deals were mixed with
LifeSci Acquisition II Corp (LSAQ) having the most positive reaction from investors and jumping 6.6% on their announced deal with
ACON 52 s (STWO) deal with ESS gave a small boost, but it still ended the day 10 cents off of NAV at $9.90.
So, while Friday gave the feel of momentum with more quantity, investors didn t get behind the deals fully and so maybe the quality wasn t there to inspire. With another three deals today the quantity will again provide a feel of momentum, but how investors react will be the real driver.
Warren Buffett Piles on SPACs and CF Finance Lowers Deal Valuation
It was a bad day for SPACs as Warren Buffett piled on SPACs; CF Finance lowered their deal valuation with AEye; and today s MAAC deal had no pop.
Author:
May 3, 2021
Stocks were mixed on Monday, the S&P500 was up / NASDAQ down, though this morning s SPAC M&A deal (MAAC) once again underperformed. MAAC closed up just 0.9% and below NAV at $9.95 marking yet another disappointing day-1 pop for newly announced SPAC M&A.
Warren Buffett and Charlie Munger held Berkshire Hathaway s much watched virtual annual meeting over the weekend, and one of the talks of the town today (aside from naming his CEO successor) was his view on killer SPACs:
Key Points
Between September 2020 and March 2021, at least 35 SPACs have been hit with one or more shareholder lawsuits filed in New York state court.
These lawsuits generally allege that SPAC directors breached their fiduciary duties to shareholders by providing allegedly inadequate disclosures regarding proposed de-SPAC mergers. Some of these lawsuits also assert claims against the SPAC itself, as well as the target company and its board of directors, for allegedly aiding and abetting the SPAC directors’ breaches.
Although these cases are in their early stages and assert claims that are limited in scope, they signify that the plaintiffs’ bar is actively monitoring and pursuing SPACs. As additional de-SPAC transactions are announced and close, SPAC shareholder lawsuits are likely to multiply, potentially subjecting SPACs, their boards and sponsors to more significant civil risk and exposure.
InterPrivate Acquisition Partners to Host Anatomy of a SPAC Transaction, The Evolving SPAC Landscape prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.