!Just the other day I spoke about Chamath Palihapitiya who led the reverse merger of Virgin Galactic through his "IPOA" SPAC. Virgin Galactic was the first SPAC deal completed in the IPOA to IPOZ run from Palihapitiya. The run of SPACs from IPOZ to IPOZ would imply he's trying to bring 26 SPACs to the public markets.
In 2021 SPACs raised over $75 billion, but just in the first two months (and February isn’t even over yet), 144 SPACs have raised almost $50 billion according to data from SPAC Research.
Former NFL quarterback Colin Kaepernick is the latest to create a special purpose-acquisition company, seeking to raise up to $287.5 million in an initial public offering.
According to a filing with the Securities and Exchange Commission, Kaepernick — the former San Francisco 49ers quarterback who took a knee during the national anthem to protest systemic racism and hasn’t played in the NFL since 2016 — is the co-sponsor and co-chairman of Mission Advancement Corp., working in partnership with The Najafi Cos., a private equity firm.
Mission Advancement will focus on racial justice and diversity issues, and aims to acquire a consumer business with an enterprise value around $1 billion.
At this point, all we need is a song about SPACs...well we got that to now.
https://www.youtube.com/channel/UCVFFSlBQufQqFtYxzLQoLcw
Cassius Cuvee is an artist from California and made a hip hop SPACs. Actually the song was about his experience investing in SPACs or SPACs which he released on Twitter. Well, the song earned him a slot on CNBC on Friday.
Video Source: https://www.youtube.com/c/CNBCtelevision/videos
SPACs are definitely part of this "Everything Bubble." You see, we just have way too much money, chasing way to few assets. Take the stock market as an example. In 2020 we witnessed the fastest bear market in history, followed by the fasters bull market in history.
As long as their is punch in the punch bowl, ain't no party, like a 1999 party.