There are way too many SPACs to keep up with, but the trend is also exciting to ignore. So I’ve created a simple SPAC watchlist with some of the most notable SPAC to watch in the market right now.
Did you know that SPACs raised $13 billion in 2019?
$83 billion in 2020.
And $40 billion already in 2021…
There are 409 active SPACs with $130 billion waiting to be invested.
That’s a lot to keep up with. So I’ve cultivated a list of some of my favorites. Full disclosure, I’m holding positions in several of the companies listed below. Other’s I traded and already sold.
But let’s start with the basics…
What is a SPAC?
SPAC stands for Special Purpose Acquisition Company, also known as a “blank check” company. It’s a different way to take a company public. The SPAC sells shares in a traditional IPO without any underlying business.
It then uses that money to merge with an existing business. Once the deal closes, the newly formed company gets a new ticker and trades like any other stock. SPCE, NKLA, & DKNG all used SPACs to go public in the past year or so.
Let’s get the SPAC watchlist:
Electric Vehicles and Sustainability SPACs
Churchill Capital Corp IV (NYSE: CCIV)
- In talks with electric carmaker Lucid Motors
Tortoise Acquisition Corp. II (NYSE: SNPR)
- Scheduled to merge with Volta industries in Q2 2021
- Builds electric car charger
- Plans to place at shopping malls and restaurants parking lots
- New ticker will be VLTA
CITIC Capital Acquisition Corp. (NYSE: CCAC)
- Rumored to be in talks with Chinese electric carmaker Byton
Sustainable Opportunities Acquisition Corp. (NYSE: SOAC)
- Targeting a sustainable company to merge with
- Management is from energy production
Marijuana and Cannabis SPACs
Silver Spike Acquisition (NASDAQ: SSPK)
- Scheduled to merge with Weedmaps the “yelp of weed.”
Greenrose Acquisition Corp (NASDAQ: GNRS)
Merida Merger Corp I (NASDAQ: MCMJ)
- Both are still searching for a company in the industry.
Finance and Cryptocurrency SPACs
GS Acquisition Holdings Corp II (NYSE: GSAH)
- A SPAC by Goldman Sachs (NYSE: GS)
- Rumored to be looking into cryptocurrency or fintech
Replay Acquisition Corp. (NYSE: RPLA)
- Scheduled to merge with Finance of America Companies
Forest Road Acquisition Corp. (NYSE: FRX)
- Started by Shaquille O’Neal and the son of Martin Luther King Jr.
- Targeting companies in media and technology sectors
Slam Corp. (NASDAQ: SLAM)
- Registered only, not trading yet
- Started by Alex Rodriguez
- Targeting companies in sports, media, entertainment, and/or health and wellness
Other Notable SPACs
Trident Acquisitions Corp. (NASDAQ: TDAC)
- Letter of intent signed this Lottery.com.
- Blockchain technology in the works
Tuscan Holdings Corp. II (NASDAQ: THCA)
- In talks with digital freight broker Transfix
- On track to be the “uber” of trucking.
I also share my daily watchlist of the hottest stocks in the market every day.