Blue Water Acquisition Corp. (NASDAQGS: BLUW)
Lifshitz Law Firm, P.C. announces investigation into possible breach of fiduciary duties in connection with the merger of BLUW to Clarus Therapeutics.
If you are an investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780.
Gores Metropoulos II, Inc. (NASDAQGS: GMII
)
Lifshitz Law Firm, P.C. announces investigation into possible breach of fiduciary duties in connection with the merger of GMII with Sonder Holdings.
If you are an investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at [email protected].
SPAC Deals and IPOE/SoFi Momentum
3 deals on Friday to close out the week, and IPOE surged into the weekend.
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10% to close on the news. It may be the positive endorsement (or short squeeze?) that could spark the market needed for SPAC M&A confidence. Especially since the market didn t exactly eat up the IPOF/Equinox rumor earlier this week. IPOE closed at $16.50.
IPOE, backed by Chamath Palihapitiya, is one of the more high profile SPAC mergers out there. The other media favorite, CCIV, climbed 2% today. Look out for a Lucid Motors appearance on SNL this weekend when Elon Musk is a guest host.
Will Honest s IPO Take More Shine Off SPACs?
Muted SPAC M&A pops could spark a shift back to the traditional, longer IPO process for private companies. Hoffman and Pincus file for 4th SPAC.
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Are Traditional IPOs Back in Favor?
The SPAC boom was partly fueled by the myriad of advantages that private companies were given by choosing SPAC as their path to public markets, to name a few:
- a faster/far less arduous offering process
- ability to sell investors on
future projections
Following
The Honest Company (HNST) highly successful day-1 IPO, it s fair to ask if more companies will follow their patient lead in the traditional IPO process. They were famously an early unicorn and then, infamously, lost their unicorn status in a down financing round. Yet the company ultimately recovered, and now are close to profitability and have a $2B valuation after closing yesterday up +44%.
What s Next for SPACs
With prices, mood, interest, IPO valuation, and deal valuations all coming down, SPAC investors are asking what comes next.
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SPACs joined Tuesday s tech selloff with the average price of a pre-deal SPAC hitting $9.90 that s 10 cents below NAV. It s ironic that in a SPAC market that is much more rational (and tradable) than during peak SPAC earlier this year investors have lost much of their enthusiasm.
Volume across the board has gone down for SPACs with an
average daily volume dropping from 580,000 in February dropping to 104,000 in April. In some ways this is good as the higher volumes were partly a sign of some irrational SPAC exuberance, but at these levels investors will be very worried about efficiently pricing as they get in / out of SPACs.
D8 Holdings Corp. (NYSE: DEH)
concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its merger with Vicarious Surgical Inc.
If you are a D8 Holdings shareholder,
.
Halper Sadeh LLP is investigating whether these companies and their boards of directors acted to: (i) maximize shareholder value; (ii) conduct a fair sales process; and (iii) disclose all material information to shareholders in connection with the merger.
Shareholders are encouraged to contact the firm
free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email [email protected] or [email protected].