SPAC mergers are asking for forgiveness, not permission. The U.S. SEC says it’s examining blank-check firms, but until it acts the companies have no reason to do anything differently, says TheRealLSL.
Self-driving truck startup Plus said on May 10 it will go public via a special-purpose acquisition company in a deal that values the firm at $3.3 billion. Plus, which will be bought by Hennessy Capital Investment Corp V, is projecting it will make $16 million in revenue this year.
On the same day, plant-growing firm Benson Hill said it would go public via a SPAC in a deal that values it at $1.4 billion. The company, being bought by Star Peak Corp II, is projecting revenue of $127 million this year, an increase of 24% over the last year.A trader points to a stock chart on the floor of the New York Stock Exchange shortly before the closing bell in New York July 2, 2014.
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