special purpose acquisition company

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By  Mallory Hackett 03:02 pm April 13, 2021
Special purpose acquisition companies, or SPACs, have taken the digital health market by storm over the past year and a half. Already in 2021 there have been more completed or announced public exits by digital health companies than for the entirety of 2020. What’s more, over 80% of them have been through SPAC mergers, according to a new Rock Health report.     For those not already on the SPAC...
By  Dr. Mussaad M. Al-Razouki 12:23 pm March 5, 2021
The 2020s are on course to become the decade of the special purpose acquisition companies (SPACs), also known as "blank check" or "shell" companies. SPACs are set to outpace IPOs once again in 2021, after a record year that saw SPACs mature from a once obscure method of going public to a rabid, flavor-of-the-month frenzy amidst both institutional and retail investors. The year of COVID-19 saw 227...
A product shot of the Owlet Smart Sock V3 on an infant
By  Dave Muoio 03:30 pm February 16, 2021
Editor's note: This article has been updated with original quotes from the heads of Owlet Baby Care and Sandbridge Acquisition. Owlet Baby Care, the maker of connected infant-monitoring products targeted at consumers, today announced its plans to merge with Sandbridge Acquisition Corporation, a special purpose acquisition company (SPAC) backed by Sandbridge Capital and PIMCO private funds, and to...
The deal values 23andMe at approximately $3.5 billion through the combination of stock and cash financing.
By  Mallory Hackett 11:56 am February 4, 2021
Consumer genomics platform 23andMe is on its way to becoming a publicly-traded company through its merger with VG Acquisition Corp., a special purpose acquisition company sponsored by Virgin Group. The two companies announced today they have entered into a definitive merger agreement that is expected to close in the second quarter of this year. Once completed, the combined companies’ stock will...
By  Dave Muoio 03:20 pm November 30, 2020
The back half of November saw two special purpose acquisition companies (SPACs) announce merger agreements valued at more than $1 billion. First on the list is Butterfly Network, maker of the Butterfly iQ handheld ultrasound devices and a corresponding workflow platform. The well-funded startup will be merging with Longview Acquisition for a final valuation of $1.5 billion. The company's common...
By  Mallory Hackett 12:43 pm October 6, 2020
Clover Health, an insurtech company for Medicare Advantage plans, will become publicly traded through a merger with special purpose acquisition company (SPAC) Social Capital Hedosophia Holdings Corp. III. The two companies will combine through a mix of cash financing and stock, according to the announcement. The deal rates Clover at an enterprise value of about $3.7 billion and is expected to...