Last week featured five announced SPAC deals. The week also had earnings from several well-known former SPACs. Here is a look back at the week that was SPACs for deals, rumors and headline news all covered on Benzinga’s “SPACs Attack.”
SPAC Deals:
Ecommerce company Boxed announced a SPAC merger with Seven Oaks Acquisition Corp (NASDAQ: SVOK). Boxed offers bulk consumables to businesses and households using an end-to-end artificial intelligence-driven platform.
Boxed is working on a software-as-a-service (SaaS) offering for future growth, including a signed SaaS partnership with one of Asia’s largest retail conglomerates Aeon Group. The company is forecasting revenue of $212 million for fiscal 2021, up 14% year-over-year.
Solid-state battery company Solid Power announced a SPAC merger with Decarbonization Plus Acquisition Corporation III (NASDAQ: DCRC) valuing the company at $1.2 billion.
Investors in Solid Power include Ford Motor Company (NYSE: F), BMW (OTC: BMWYY), Samsung and Hyundai Motor Company GDR (OTC: HYMTF). Solid-state batteries being developed by the company are expected to have a range of 500 miles and provide cheaper costs to automotive companies.
Ford and BMW have an existing joint development to use Solid Power batteries in future electric vehicles.
5G and renewable infrastructure service provider QualTek announced a SPAC merger with Roth CH Acquisition III Co (NASDAQ: ROCR) valuing the company at $829 million.
Founded in 2012, QualTek provides services to companies in the 5G, telecom and renewable energy sectors in North America. Services include fiber-optic infrastructure, program management, engineering, permitting, testing, emergency restoration, and electrical services.
The company expects to grow revenue with increases in federal and municipal infrastructure spending.
Radiation technology company Mirion Technologies announced a SPAC merger with GS Acquisition Holdings Corp II (NYSE: GSAH) valuing the company at $2.5 billion. Mirion is a leader in radiation hardware, software and ...
Related tickers: ROCR, AMZN, NGCA, F, KRNL, DCRC, CCV, GSAH, SPCE, DKNG, CLVR, PSTH, VACQ, RIDE, ARVL, SVOK, LIII.
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