Tag: special-purpose acquisition company
23andMe set to go public via a Virgin Group SPAC merger
Genetics testing and genome research company 23andMe is set to go public via a merger with special purpose acquisition corp (SPAC) VG Acquisition Corp, a vehicle set up by Richard Branson and his company Virgin Group. The transaction is expected to result in 23andMe having around $984 million in cash…
Read More
Group Nine’s SPAC goes public
Group Nine Media revealed last month that it was forming a SPAC (short for special purpose acquisition corporation) in order to raise money for acquisitions. The company has now moved forward with those plans, announcing last night that it had priced the SPAC’s IPO $10 at per unit, to raise…
Read More
What’s behind this year’s boom in climate tech SPACs?
There’s no denying that 2020 has been the year of the special purpose acquisition company. Since the beginning of the year, 219 SPACs have raised $73 billion, according to widely reported market research from Goldman Sachs. That’s a 462% jump from 2019 and more than traditional public offerings raised by…
Read More