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Good After Ladies and Gentlemen... there’s a K-Mart Blue Light Special going on... here are some $20 & Under SPACs that have no reason to be there:
$IPOE
@SoFi
$THCB
@Microvast
$BFT
@PlugIntoPaysafe
$TPGY
@evbox
$FRX
@Beachbody
$NGA
@LionElectricCo
$SNOR
@VoltaCharging
https://twitter.com/alexcutler247/status/1365046433553010694
Pending Choice Consolidation
SPAC NEWS 2-24-21 $AONE/WS $DMYI/WS $RAAC $RAACW $RMBG $RTP/WS
the "R's" have it ....did I miss any new SPAC's? let me know~!
One way to go about this is to set stock price alerts at $11.00 $11.50 and $12.00
When Amazon announces that they will use this company $10 to $40 in one day and eventually over $100.00
Here is the answer. And this has taken me 35 years to get this right.
Download the smartphone app "Stocks Alert."
Pick a percentage of your total shares in your position that you will use to trade around your core position. 33 percent?
Set the RSI(14) alert to 80.
When 80 is triggered, sell 33 percent.
Buyback at 60 and either pocket the cash difference, or buy back more shares than you sold.
JohnCM
$THCB Microvast Enters Electrification Joint Development Agreement With Oshkosh Corporation
Oshkosh to make a $25 million strategic investment in Microvast
February 05, 2021 07:00 AM Eastern Standard Time
HOUSTON--(BUSINESS WIRE)--Microvast, Inc., a leading global provider of next-generation battery technologies for commercial and specialty vehicles ("Microvast" or the "Company"), announced today that Oshkosh Corporation (NYSE: OSK) (“Oshkosh”), a leading innovator of mission-critical vehicles and essential equipment, and Microvast have entered into a Joint Development Agreement to facilitate future battery collaboration and innovation. Oshkosh also confirmed that it had agreed to invest $25 million as part of the previously announced $540 million private investment in public equity (“PIPE”) entered into in connection with Microvast’s previously announced pending merger with Tuscan Holdings Corp. (Nasdaq: THCB) (“Tuscan”), a publicly-traded special purpose acquisition company.
“We are proud to work with leading OEMs like Oshkosh Corporation and we appreciate Oshkosh’s strategic investment in Microvast”
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“We are proud to work with leading OEMs like Oshkosh Corporation and we appreciate Oshkosh’s strategic investment in Microvast,” said Yang Wu, Founder, Chairman and CEO of Microvast. “We believe that our best-in-class battery cells, a strong technology pipeline, and anticipated proceeds of our pending transaction with Tuscan will allow Microvast to finance the buildout of world-class manufacturing facilities and fulfill our commitments to our valued customers. We are pleased to have Oshkosh’s support in these efforts and we look forward to a long-term, thriving partnership focused on advancing Oshkosh’s electrification strategy.”
Microvast expects that the Joint Development Agreement will act as a foundation to encourage collaboration and integration on next-generation battery technologies. Based on field proven battery technologies, Microvast believes it is well positioned to custom design and develop tailored battery solutions for Oshkosh’s future electrification projects and support Oshkosh’s heavily utilized, high-performing applications.
Microvast’s product engineering teams remain focused on supporting Oshkosh’s leading position in its markets by developing differentiated battery solutions that will enable Oshkosh to provide premium performing solutions to its customers.
On February 1, 2020, Microvast and Tuscan announced that they entered into a definitive merger agreement that will result in Microvast becoming a publicly listed company. The transaction, with an estimated post-transaction equity value of approximately $3.0 billion, is expected to result in a total of $822.0 million of gross proceeds to Microvast, assuming no redemptions by Tuscan’s stockholders from Tuscan’s cash in trust. In addition to Oshkosh’s investment, other PIPE anchor investors include funds and accounts managed by BlackRock, Koch Strategic Platforms and InterPrivate. Upon the closing of the merger, which is expected to occur in the second quarter of 2021, the combined company will be named Microvast Holdings, Inc. and is expected to be listed on the Nasdaq Stock Market under the new ticker symbol “MVST.”
About Microvast
Microvast, Inc. is a technology innovator that designs, develops and manufactures lithium-ion battery solutions. Founded in 2006 and headquartered in Houston, TX, Microvast is renowned for its cutting-edge cell technology and its vertical integration capabilities which extends from core battery chemistry (cathode, anode, electrolyte, and separator) to battery packs. By integrating the process from raw material to system assembly, Microvast has developed a family of products covering a broad breadth of market applications. More information can be found on the corporate website: www.microvast.com.
About Tuscan
Tuscan Holdings Corp. is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Tuscan’s management team is led by Stephen Vogel, Chairman and Chief Executive Officer. Tuscan is listed on Nasdaq under the ticker symbol "THCB."
$THCB? U.S. Postal Service Awards Contract to Launch Multi-Billion-Dollar Modernization of Postal Delivery Vehicle Fleet
- Oshkosh Defense Will Finalize Design of Next Generation Delivery Vehicle (NGDV), Delivering Up to 165,000 of the U.S.-Built Vehicles Over the Next Decade
- Investment is Part of Soon-to-be-Released, 10-Year Plan to Transform USPS Into the Preferred Delivery Service Provider for the American Public
- Modernization to Reduce USPS Fleet's Costs and Greenhouse Gas Emissions as Cleaner Technologies, such as Electric Powertrains, Power Carrier Routes
- Video remarks from Postal Service officials on this major announcement are available on the USPS Newsroom
(PRNewsfoto/U.S. Postal Service)
NEWS PROVIDED BY
U.S. Postal Service
Feb 23, 2021, 15:00 ET
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WASHINGTON, Feb. 23, 2021 /PRNewswire/ -- The U.S. Postal Service announced today it awarded a 10-year contract to Oshkosh, WI, based Oshkosh Defense, to manufacture a new generation of U.S.-built postal delivery vehicles that will drive the most dramatic modernization of the USPS fleet in three decades.
The historic investment is part of a soon-to-be-released plan the Postal Service has developed to transform its financial performance and customer service over the next 10 years through significant investments in people, technology and infrastructure as it seeks to become the preferred delivery service provider for the American public.
Under the contract's initial $482 million investment, Oshkosh Defense will finalize the production design of the Next Generation Delivery Vehicle (NGDV) — a purpose-built, right-hand-drive vehicle for mail and package delivery — and will assemble 50,000 to 165,000 of them over 10 years. The vehicles will be equipped with either fuel-efficient internal combustion engines or battery electric powertrains and can be retrofitted to keep pace with advances in electric vehicle technologies. The initial investment includes plant tooling and build-out for the U.S. manufacturing facility where final vehicle assembly will occur.
The contract is the first part of a multi-billion-dollar 10-year effort to replace the Postal Service's delivery vehicle fleet, one of the world's largest. The Postal Service fleet has more than 230,000 vehicles in every class, including both purpose-built and commercial-off-the-shelf (COTS) vehicles. Approximately 190,000 deliver mail six, and often seven, days a week in every U.S. community. The NGDV, along with other COTS vehicles, will replace and expand the current delivery fleet, which includes many vehicles that have been in service for 30 years.
The first NGDVs are estimated to appear on carrier routes in 2023.
"As the American institution that binds our country together, the U.S. Postal Service can have a bright and modern future if we make investments today that position us for excellence tomorrow," said Postmaster General and USPS Chief Executive Officer Louis DeJoy. "The NGDV program expands our capacity for handling more package volume and supports our carriers with cleaner and more efficient technologies, more amenities, and greater comfort and security as they deliver every day on behalf of the American people."
The NGDV vehicles will include air conditioning and heating, improved ergonomics, and some of the most advanced vehicle technology — including 360-degree cameras, advanced braking and traction control, air bags, a front- and rear-collision avoidance system that includes visual, audio warning, and automatic braking. The vehicles will also have increased cargo capacity to maximize efficiency and better accommodate higher package volumes stemming from the growth of eCommerce.
"Our fleet modernization also reflects the Postal Service's commitment to a more environmentally sustainable mix of vehicles," DeJoy said. "Because we operate one of the largest civilian government fleets in the world, we are committed to pursuing near-term and long-term opportunities to reduce our impact on the environment."
The Postal Service awarded the Oshkosh Defense contract in accordance with competitive Postal Service procurement policies after extensive testing of prototype vehicles, evaluation of offered production proposals, and discussions of technical specifications with the offerors.
The award is an indefinite delivery, indefinite quantity (IDIQ) contract, meaning that after an initial dollar commitment, the Postal Service will have the ongoing ability to order more NGDV over a fixed period of time, in this case,10 years. Oshkosh Defense is evaluating which of their several U.S. manufacturing locations is best suited to potentially increase the production rate of the NGDV.
Video remarks featuring Postmaster General Louis DeJoy and other Postal Service executives, and an image of the new NGDV are available on the USPS Newsroom.
The Postal Service receives no tax dollars for operating expenses and relies on the sale of postage, products and services to fund its operations.
$CFACW CF(Cantor Fitz) Finance Acquisition Corp. III. Merging comp. AEye, Lidar play w/2b valuation. Merged on 2/17/21
USA Rare Earth Partners with Source Certain International to Launch Transparent and Trusted Supply Chain for Critical Minerals
February 18, 2021 06:00 ET | Source: USA Rare Earth LLC
Traceability and Scientific Verification of Provenance to be Implemented for all Rare Earths, Lithium and Critical Minerals and Will Underpin USA Rare Earth Mine-to-Magnet Strategy
New York, NY, Feb. 18, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- USA Rare Earth LLC, the funding and development partner of the Round Top Heavy Rare Earth and Critical Minerals Project in Hudspeth County, West Texas, together with Texas Mineral Resources Corp. (OTCQB: TMRC), is pleased to announce that it has partnered with Source Certain International (SCI). SCI will support USA Rare Earth to develop a transparent, traceable and trusted supply chain for its rare earth and lithium products, including permanent magnets. SCI forms a key part of USA Rare Earth’s mine-to-magnet and mine-to-market strategy. The SCI program will enable verification of provenance for all USA Rare Earth products.
USA Rare Earth has prioritized the need to have independent robust systems that can provide environmental, social responsibility and other quality assurance information to downstream customers and consumers of rare earths, lithium and other critical raw materials from Round Top and other sources into USA Rare Earth’s mine-to-magnet supply chain. The partnership with SCI provides U.S. manufacturers, technology companies and renewable energy producers with proof of provenance to support their own ESG initiatives and assurances to their customers.
As a global leader in supply chain transparency and integrity, SCI uses its unique understanding of complex global supply chains and its expertise in provenance science and technology to address challenges of credibility, trust, traceability and source verification. SCI’s process enables the scientific verification, through chemical profiling, of rare earth, permanent magnet, lithium and critical minerals’ mine-level provenance, independent of supporting claims.
“Supply chain transparency and traceability for critical and strategic minerals supply chains -- particularly for green and clean technologies -- is fast becoming a requirement for end-users and for governments,” said Pini Althaus, Chief Executive Officer of USA Rare Earth. “We’ve seen it most recently in the solar power sector, with the spotlight on essential solar materials reportedly being produced in China using forced labor. Consumers want to know the products they purchase and use are ethically sourced, and they are going to demand that companies become transparent about their supply chains. USA Rare Earth sees this as core to how we meet our mission as a trusted source for critical and strategic minerals and metals. With SCI as our partner, customers and consumers will know exactly where USA Rare Earth materials come from, how they are mined, refined, recycled and reclaimed – and that the work was done responsibly, and in jurisdictions that have high standards with respect to the environment, safety and social responsibility.”
“More than 80% of USA Rare Earth’s anticipated revenues from Round Top and its mine-to-magnet strategy are expected to be derived from supplying materials that will be used for clean/green applications. We believe supply chain transparency is essential for our immediate customers as well as to the end-use consumers of products such as electric vehicles, renewable energy generation and consumer electronics that incorporate these critical minerals. With these purchases, consumers are making deliberate environmentally conscious decisions for the betterment of our planet. Given our leadership in a US-based critical minerals supply chain, we feel it is important for us to promote industry standards that are in line with our position as an ESG-focused company and in line with the intended use of the materials we will be supplying. We intend to address the two major issues facing the U.S. on these matters: a secure and a sustainable supply chain; neither of which are currently being provided by China on whom we are currently reliant on for all of our critical minerals requirements,” Mr. Althaus added.
SCI pioneered scientific provenance verification in the late 1970s in Australia, when it was first used as a “gold fingerprinting” tool, scientifically linking stolen gold to its mine of origin. Extensively used in gold heist, conflict or smuggled gold and other forensic investigations. The technology, now known as TSW Trace™, is used by SCI as a verification and investigative tool in the supply chains of a vast array of global industries, including mining. TSW Trace™ analyses the physical sample of a product to determine its unique chemical profile that is imparted on the product at point of production. The analytical result that is determined is referred to as a chemical fingerprint which is uniquely representative of the product’s provenance (discrete source of origin) and, where relevant, how it may have been produced or manufactured.
Compared to Blockchain, for example, traceability relies on the integrity of data that it stores. SCI technology involves physical and scientific analysis of a product to verify provenance. A traceability system, including those that use a Blockchain, share data often captured through a marker on the product’s packaging (i.e., barcode) and not the physical product itself. The assignment of that marker is ultimately undertaken by people, making it susceptible to human error and fraud. Conversely, the chemical fingerprint captured by SCI is a representation of where the product came from and also how it has been made, including the mining and processing and manufacturing of these materials – and that information can be verified as it moves along the advanced materials supply chain before reaching its end-users.
The USA Rare Earth – SCI partnership will demonstrate a unique platform that shares critical information, including key metrics that relate to the carbon footprint of the product, plus any relevant ethical, environmental or sustainability certifications and product provenance – all scientifically verified and transparently documented.
“We work in the supply chain integrity area at SCI, so we see the good and the bad. The issues being tackled here are not easy. The critical mineral supply chains, specifically those that carry rare earths and their products like neo magnets, face what could be described as a perfect storm. With a global energy revolution transpiring, there is intense focus on alternative energy sources to traditional fossil fuels. Whether it be electrical vehicles or wind turbines that generate clean energy, critical minerals like rare earth minerals are present in all of these. Beyond the energy sector these minerals are inputs for other materials used in defense, including weapons and space. All of this delivers increased demand that has not been experienced to date,” said Cameron Scadding, Managing Director of Source Certain International.
Mr. Scadding continued, “The challenges of this spiking demand are amplified by a concentration risk within the current supply chain and an overall lack of diversity of supply. Adding to this is the existing supply chain, like with other minerals, is inherently opaque making it difficult to impossible to know where the minerals and their associated metal products have been sourced and then in turn how they might have been mined, processed, refined and manufactured. This makes understanding ethical sourcing and environmental credentials for the existing supply chains of these products also practically impossible. Therefore, we commend USA Rare Earth for taking a leadership role in their commitment to transparency and decision to underpin supply chain information with verification through an independent scientific provider like SCI that will verify the origin claims for all upstream mines and processing facilities within their supply chain.”
U.S. Bi-partisan Focus on Supply Chain Integrity
USA Rare Earth’s supply chain transparency initiative comes as the U.S. Government focuses on domestic supply chain integrity with concerns ranging from availability, manufacturing and social responsibility to matters of national and economic security. President Biden is expected to sign an Executive Order in the coming weeks to undertake a comprehensive review of U.S. supply chain vulnerabilities to strengthen U.S. resilience and capacity for critical goods and materials.
The executive actions will follow recent Congressional efforts to address domestic critical materials production and the U.S. defense industrial base. The omnibus appropriations and emergency coronavirus relief legislation signed into law in December included increased R&D funding to the U.S. Department of Energy to support a secure, robust and sustainable supply of critical minerals and materials. The bipartisan legislation was led by U.S. Senators Lisa Murkowski (R-AK) and Joe Manchin (D-WV), as well as Representative Eric Swalwell (D-CA) who co-chairs the Critical Materials Caucus with Representative Guy Reschenthaler (R-PA).
The FY2021 National Defense Authorization Act (NDAA) also strengthened defense acquisition restrictions on the procurement of rare earth permanent magnets that are mined, refined, separated, melted or produced in non-allied countries, including China. This expanded defense procurement policy will take effect in 2026. The NDAA also included U.S. domestic procurement preferences for strategic and critical materials acquired for the defense industrial base.
The collaboration by USA Rare Earth and SCI will support these and other federal requirements and ESG initiatives and will provide value-added information to the U.S.-based companies that are required or voluntarily disclose supply chain information involving minerals, labor, environmental and other standards.
About USA Rare Earth, LLC
USA Rare Earth, LLC is earning and acquiring an 80% operating joint venture interest in, and is the operator of, the Round Top Heavy Rare Earth and Critical Minerals Project located in Hudspeth County, West Texas from Texas Mineral Resources Corp. (TMRC: OTCQB). Round Top hosts a wide range of critical heavy rare earth elements, high-tech metals, including lithium, zirconium, hafnium and beryllium, and, based on the Preliminary Economic Assessment (dated August 16, 2019) projects a pre-tax net present value using a 10% discount rate of $1.56 billion based on a 20-year mine plan that is only 13% of the identified measured, indicated and inferred resources. The PEA estimates an internal rate of return of 70% and average annual net revenues of $395 million a year after average royalties of $26 million a year payable to the State of Texas. Based on the cost estimates set forth in the PEA, Round Top would be one of the lowest-cost rare earth producers, and one of the lowest cost lithium producers in the world. The Round Top Deposit hosts 16 of the 17 rare earth elements, plus other high-value tech minerals (including lithium) and is well located to serve the US internal demand. In excess of 60% of materials at Round Top will be used directly in green or renewable energy technologies. Round Top contains 13 of the 35 minerals deemed “critical” by the Department of the Interior and contains critical elements required by the United States, both for national defense and industry. USA Rare Earth has also opened a rare earth and critical minerals processing facility in Wheat Ridge, Colorado and in April 2020 USA Rare Earth acquired the neodymium iron boron (NdFeB) permanent magnet manufacturing equipment formerly owned and operated in North Carolina by Hitachi Metals America, Ltd. For more information about USA Rare Earth, visit www.usare.com
Pershing Square Tontine Holdings Ltd
Look like $ACIC and $BFLY added by
@ARKInvest
@CathieDWood
today.
Look like $ACIC and $BFLY added by @ARKInvest @CathieDWood today.
— Guru 👊 (@TheGuruYouKnow) February 17, 2021
OK and that’s what that is
This board is about SPAC
I am modifying an existing board to include,
SPAC
IPO
DUTCH
APO
DPO
RM
SBE is a spac with ChargePoint they are voting on it now that’s why I brought it to the board. Your reply to my post sounded like it did not meet what this board is about
So what are you saying that does not qualify
Investors HUB
Discussion board - 'IPOs + SPACs of Interest'
This is an important board because it is important for me to keep an eye out for new listings, regardless of the vehicle used to become a publicly-traded company.
SPAC
IPO
DUTCH AUCTION (GOOGLE)
APO (Alternative Public Offering)
DPO (Direct Public Offering)
RM (Reverse Merger)
https://investorshub.advfn.com/secure/post_reply.aspx?message_id=161767316
I'll pass. ACIC much stronger, with bigger backers, like United Airlines, Fiat Chrysler, Moelis Group...
Good luck
Did you ever consider using the "Internet Machine" and looking for a helpful tool called "Google search" huh?
GRSV rumours, see board for details; https://investorshub.advfn.com/Gores-Holding-V-Inc-GRSV-38651/
CHOICE CONSOLIDATION?
RE: ACIC spac deal with Archer Aviation
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161820098
It was late night, the I-hub ibox has wwwspacinsider.com, but if any other source, I would appreciate knowing.
I do have a question regarding a (spac). The first time they trade most generally as a U suffix. Common/warrant.
Is their an easier way to determine when a spac will start first day of trading as a Warrant?
Any/all insight, will be appreciated.
$CCIV - Venrock Associates proposed to sell Lucid Motors Inc to CCIV? Updated today!!
Thanks for this
@_El_Profesorr
$CCIV - Venrock Associates proposed to sell Lucid Motors Inc to CCIV? Updated today!!
— SpacBobby (@SpacBobby) February 11, 2021
Thanks for this @_El_Profesorr pic.twitter.com/TQhSTzSPCl
$CCIV - M&A Consortium Details......
— SpacBobby (@SpacBobby) February 11, 2021
Source: Bloomberg pic.twitter.com/gVAbJow6pE
Says $FAII actually held talks with Etoro!
That works too!
https://www.etoro.com/en-us/?gclid=Cj0KCQiAyJOBBhDCARIsAJG2h5ces2ZNvdc8kOSThRvB0xGQ2I344Frfvb1HzGfP6JcbWOfug-nc2RMaApc9EALw_wcB
$CMLF Sema4, a Disruptive AI-driven Genomic & Clinical Data Platform Company, to Combine with CM Life Sciences to Accelerate Growth
Transaction combines Sema4’s leading AI- and machine learning-powered integrated genomic and clinical open-architecture data platform, with CM Life Sciences, the leading life science-focused SPAC, led by institutional investors Casdin Capital and Corvex Management.
Combination is expected to provide up to $793 million in cash proceeds to shareholders and Sema4, accelerating organic and inorganic growth and fueling the company’s mission to transform health outcomes and decision making.
Financing includes a fully committed PIPE of $350 million from leading growth and life science investors including Casdin Capital, Corvex Management, Fidelity Management & Research Company LLC, Counterpoint Global (Morgan Stanley), Perceptive Advisors, SB Management, a subsidiary of SoftBank Group Corp, funds and accounts advised by T. Rowe Price Associates Inc and Viking Global Investors, and existing investors including fund and accounts managed by Blackrock and Deerfield Management.
Sema4 board at closing to include Nat Turner Co-Founder of Flatiron Health (a Roche Company), Emily Leproust CEO of Twist Biosciences (NASDAQ: TWST) and Eli Casdin, CIO of Casdin Capital.
February 10, 2021 07:00 AM Eastern Standard Time
NEW YORK & STAMFORD, Conn.--(BUSINESS WIRE)--Sema4, an AI- and machine learning-driven patient-centered genomic and clinical data intelligence company, and CM Life Sciences (Nasdaq: CMLF), a special purpose acquisition company, or SPAC, sponsored by affiliates of Casdin Capital, LLC and Corvex Management LP, today announced they have entered into a definitive business combination agreement. Upon closing of the transaction, CM Life Sciences will be renamed and its common stock will be listed on the Nasdaq global market under a name and a ticker symbol to be announced at a later date.
“We exist in a remarkable period of time as the life sciences and broad healthcare industries undergo a technology-driven data revolution”
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“This transaction is a significant milestone for Sema4,” said Eric Schadt, Ph.D., Founder and CEO of Sema4. “The additional resources will allow us to greatly accelerate our business plans organically and inorganically, developing and bringing in more cutting-edge precision model solutions across multiple disease areas. This is the most exciting time in the history of our industry and I look forward to working closely with Eli, Keith, and their teams, to deliver on the massive potential to transform clinical and life sciences through better leveraging of data.”
Sema4 Overview
Sema4 is a purpose built and rapidly growing, patient-centered genomic and clinical data insight platform company. Leveraging world leading data scientists using artificial intelligence and machine learning, the company is powering remarkable and unique insights that transform the practice of medicine and how disease is diagnosed, treated, and prevented.
Sema4 today has established the largest, most comprehensive, and fastest growing integrated genomic & clinical data platform. Sema4 has established its platform in partnership with patients, healthcare providers and a far-reaching ecosystem of life science industry contributors.
Sema4’s database includes more than 10 million patient genomic profiles and de-identified clinical records, integrated and delivered in a way that enables physicians to proactively diagnose and manage disease. The virtuous cycle of data helps improve decision making but also accelerates the development of next generation diagnostic tools and therapeutics.
“We exist in a remarkable period of time as the life sciences and broad healthcare industries undergo a technology-driven data revolution,” said Eli Casdin, founder and CIO of Casdin Capital. “The disruptive promise in combining these genomic and clinical data sets, at the patient level, is profound but takes a team of experts, the right business model, and lots of growth capital. We therefore could not be more excited to lend our partnership and fill the balance sheet for the foremost leader in the field, Eric Schadt and the expert team he’s assembled at Sema4. With an early start, unique business strategy and more than 150 leading data scientists, this is the premier company in one of the biggest, winner-take-most markets in life sciences.”
In addition to the approximately $443 million of cash held in CM Life Sciences’ trust account, a group of leading institutional investors has committed to participate in the transaction through a common stock PIPE of $350 million including funds advised by Casdin Capital and Corvex Management, new investors Fidelity Management & Research Company LLC, Counterpoint Global (Morgan Stanley), Perceptive Advisors, SB Management, a subsidiary of SoftBank Group Corp, funds and accounts advised by T. Rowe Price Associates Inc and Viking Global Investors, and existing investors including funds and accounts managed by Blackrock and Deerfield Management, among other top-tier healthcare investors.
The combined company is expected to receive proceeds of up to approximately $793 million at the closing of the transaction, up to $343 million of which will be paid to Sema4 stockholders and the remainder of which will be utilized by Sema4 in its business and will continue to operate under the Sema4 management team, led by Eric Schadt, Ph.D., Founder and CEO. The transaction, which values Sema4 at an enterprise value of approximately $2 billion, is expected to close during the second quarter of 2021, and will provide Sema4 with significant additional capital to further build and scale upon its dedication to advancing healthcare through data-driven insights.
Proceeds will be used to both fuel organic operating needs and to drive other targeted growth opportunities, helping the company deliver its solutions to a larger number of healthcare providers and patients and to improve clinical outcomes across a higher volume of diseases.
“Eric has built a truly unique business at Sema4 with a combination of scale, growth and innovation that we rarely see. Revenues are projected to grow from $200 million to $500 million and gross margins to double from today to 2023, while Sema4 leverages its existing platform in women’s health and oncology to quickly grow into high margin relationships and partnerships across health systems and biopharma partners,” said Keith Meister, Chairman of the Board CM Life Sciences. “This transaction affords investors the unique opportunity to benefit from Sema4’s rapid growth, business transformation and the multiple expansion opportunities that we believe this growth will drive.”
Transaction Overview
On February 9, 2021, CM Life Sciences entered into a definitive agreement to combine with Sema4. The transaction is expected to deliver up to $793 million of gross proceeds, including the contribution of up to $443 million of cash held in CM Life Sciences’ trust account from its initial public offering in September 2020 (assuming no redemptions from the trust account) and $350 million from committed equity PIPE funding from a group of institutional and life sciences investors. In the transaction, Sema4 shareholders will receive common stock of CM Life Sciences and, at their election, up to $343 million in cash in exchange for shares of Sema4. Upon completion of the transaction, Sema4 expects to have up to $500 million in cash available from the transaction ($450 million from the transaction plus existing cash on its balance sheet at closing) to fund operations and support new and existing business initiatives.
The transaction has been unanimously approved by each of CM Life Sciences’ and Sema4’s Board of Directors and substantially all of the shareholders of Sema4. The transaction is subject to the approval of the CM Life Sciences shareholders and other customary conditions, and is expected to close in the second quarter.
Additional information about the proposed transaction, including a copy of the Merger Agreement and an investor presentation, will be provided in a Current Report on Form 8-K to be filed today with the Securities and Exchange Commission ("SEC") and available at www.sec.gov.
Advisors
Jefferies LLC is acting as sole financial advisor, lead capital markets advisor, and sole placement agent, with Cowen and Company, LLC also acting as a capital markets advisor, and White & Case LLP is serving as legal advisor to CM Life Sciences. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are serving as financial advisors, and Fenwick & West LLP is serving as legal advisor to Sema4.
Check www.otcmarkets.com daily for new OTC ticker
for the new Cannabis SPAC ...
Choice Consolidation Corp
Keep an eye out for a new ticker for Choice Consolidation.
SPAC for Cannabis.
I don't understand why the "blank check" company does not have a ticker yet.
Electric Aircraft Startup Archer to Go Public at Multibillion Dollar Valuation via SPAC – Sources
Thu, February 4, 2021, 7:20 PM·2 min read
By John Jannarone and Jarrett Banks
Electric aircraft startup Archer Aviation Inc. plans to go public by merging with a special purpose acquisition company, or SPAC, in a deal that will give the company a multibillion dollar valuation, according to people familiar with the matter.
The announcement could come as early as next week, these people told IPO Edge, adding that some terms of the the agreement are not final. The transaction announcement will likely include PIPE financing of at least $500 million from strategic investors, including an airline, these people said.
It is not clear which SPAC intends to merge with Archer. The company didn’t immediately respond to requests for comment.
California-based Archer is chasing an electric air-mobility market that Morgan Stanley says could be valued at $1.5 trillion by 2040. Archer is developing electric vertical-takeoff-and-landing aircraft to serve as an environmentally sustainable air taxi. The top range of the aircraft is 60 miles at a speed of 150 mph, according to Archer’s website.
Driven by a combination of growing consumer acceptance and a favorable regulatory environment, the first commercial Urban Air Mobility passenger routes will be operational by 2025 and the passenger UAM market is estimated to grow to $90 billion in revenues by 2050, according to research firm Intro-act.
Air mobility is set to enter its fourth phase of funding as it starts receiving capital from public equity investors – as demonstrated by announced/rumored SPAC deals, as well growing interest from big ticket investors like ARK Invest.
While Archer is in a category of its own as an electric aviation company, investors have shown strong demand for several companies in the electric vehicle (EV) segment. Those include giants like Tesla Inc. along with younger companies like Canoo Inc. and Blink Charging Co.
The company said in January it entered an agreement with Fiat Chrysler Automobiles to benefit from access to FCA’s low-cost supply chain, advanced composite material capabilities, and engineering and design experience.
Yes, I personally would sell, no different than executing a call option...
It sounds like if you just hold and don't convert them they will be bought by the company for .01 ... ?
$FAII very interesting. I bought some calls and warrants today...
Doesn't change anything, they are just being called in. You can hold for shares or just sell...
Anyone with a few seconds of time...I'm looking for a little help understanding this warrant conversion process...
XL fleet just announced they are redeeming their warrants...so apparently i have to sell them on the market or convert them to shares and pay 11.50 per share ...is this correct?
If this is correct...what happens to the gains I currently have there?
Or will it basically work out because the shares will be worth roughly around double the conversion price of 11.50 as it stands now?
Just trying to figure the best course of action...new to this situation...
https://www.businesswire.com/news/home/20210128006090/en/XL-Fleet-Corp.-Announces-Redemption-of-Public-Warrants
thx
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A special purpose acquisition company (SPAC) is a corporation formed for the sole purpose of raising investment capital through an initial public offering (IPO). Such a business structure allows investors to contribute money towards a fund, which is then used to acquire one or more unspecified businesses to be identified after the IPO.
When the SPAC raises the required funds through an IPO, the money is held in a trust until a predetermined period elapses or the acquisition is made. In the event that the planned acquisition is not made or legal formalities are still pending, the SPAC is required to return the funds to the investors, after deducting bank and broker fees.
A special purpose acquisition company is formed by experienced business executives who are confident that their reputation and experience will help them identify a profitable company to acquire. Since the SPAC is only a shell company, the founders become the selling point when sourcing funds from investors.
The founders provide the starting capital for the company and they stand to benefit from a sizeable stake in the acquired company. The founders often hold an interest in a specific industry when starting a special purpose acquisition company.
When issuing the IPO, the management team of the SPAC contracts an investment bank to handle the IPO. The investment bank and the management team of the company will agree on a fee to be charged for the service, usually about 10% of the IPO proceeds. The securities sold during an IPO are offered at a unit price, which represents one or more shares of common stock.
The prospectus of the SPAC mainly focuses on the sponsors, and less on company history and revenues since the SPAC lacks performance history or revenue reports. All proceeds from the IPO are held in a trust account until a private company is identified.
After the SPAC has raised the required capital through an IPO, the management team has 18 to 24 months to identify a target and complete the acquisition. The period may vary depending on the company and industry. The fair market value of the target company must be 80% or more of the SPAC’s trust assets.
Once acquired, the founders will profit from their stake in the new company, usually 20% of the common stock, while the investors receive an equity interest according to their capital contribution.
In the event that the predetermined period lapses before an acquisition is completed, the SPAC is dissolved, and the IPO proceeds held in the trust accounts are returned to the investors. When running the SPAC, the management team are not allowed to collect salaries until the deal is completed.
A SPAC floats an IPO to raise the required capital to complete an acquisition of a private company. The capital is sourced from retail and institutional investors, and 100% of the money raised in the IPO is held in the trust account. In return for the capital, investors get to own units, with each unit comprising a share of common stock and a warrant to purchase the common stock at a later date.
The purchase price per unit of the securities is usually $10.00. After the IPO, the units become separable into shares of common stock and warrants, which can be traded in the public market. The purpose of the warrant is to provide investors with additional compensation for investing in the SPAC.
The founders of the SPAC will purchase founder shares at the onset of the SPAC registration, and pay nominal consideration for the number of shares that results in a 20% ownership stake in the outstanding shares after the completion of the IPO. The shares are intended to compensate the management team, who are not allowed to receive any salary or commission from the company until a combination transaction is completed.
The units sold to the public comprise a fraction of a warrant, which allows the investors to purchase a whole share of common stock. Depending on the bank issuing the IPO and the size of the SPAC, one warrant may be excisable for a fraction (either half, one-third or two-thirds) or a full share of stock.
For example, if a price per unit in the IPO is $10, the warrant may be exercisable at $11.50 per share. The warrants become exercisable either 30 days after the De-SPAC transaction or twelve months after the SPAC IPO.
The public warrants are cash-settled, meaning that the investor must pay the full cost of the warrant in cash to receive a full share of stock. Founder warrants, on the other hand, maybe net settled, meaning that they are not required to deliver cash to receive a full share of stock. Instead, they are issued with shares of stock with a fair market value equal to the difference between the stock trading price and the warrant strike price.
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