The year may be winding down, but it seems like SPAC merger news continues to heat up.
In fact, this week brought major moves in more than 13 special purpose acquisition companies. For investors less familiar with this world, SPACs are public companies that merge with private companies. Essentially, SPACs help private businesses avoid the IPO process. Importantly, following the pandemic selloff in March, investors have had a huge appetite for new offerings. That means SPAC merger news has dominated the market.
This week was no different. Dive into the latest news with InvestorPlace below:
No. 1: PaySafe SPAC Merger News
SPAC: Foley Trasimene Acquisition II (NYSE:BFT)
Private Company: PaySafe
Earlier this week, BFT stock was rocketing higher on news Foley Trasimene Acquisition II would acquire PaySafe. Importantly, PaySafe is an integrated payments company that helps better connect businesses with customers. At a time when investors are keen on fintech, this move should be unsurprising.
The PaySafe SPAC merger should close in the first quarter of 2021. When the it does close, PaySafe will trade on the New York Stock Exchange under the symbol PSFE.
No. 2: Canoo SPAC Merger News
SPAC: Hennessy Capital (NASDAQ:HCAC)
Private Company: Canoo
Earlier this week, HCAC stock was also captivating investor attention. This comes after news that Hennessy Capital shareholders will vote on the Canoo SPAC merger Dec. 21. Assuming all goes well, this means that Canoo will soon start trading on the Nasdaq Exchange under the ticker GOEV.
Importantly, Canoo is an electric vehicle maker that offers redesigned cars under a subscription model. Along with the SPAC merger news, investors also learned that Canoo will reveal a new model Dec. 17.
No. 3: Fusion Fuel SPAC News
SPAC: HL Acquisitions (NASDAQ:HCCH)
Private Company: Fusion Fuel
HL Acquisitions was yet another SPAC powering high this week. Importantly, the move in HCCH stock comes after shareholders approved the Fusion Fuel SPAC merger. As a result, Fusion Fuel will soon start trading on the Nasdaq under the ticker HTOO.
One interesting thing to note here is that Fusion Fuel specializes in green hydrogen. This means that any hydrogen it produces comes through the electrolysis of water. At a time when many investors are bullish on renewable energy, this SPAC merger news is intriguing.
No. 4: XL Fleet SPAC Merger News
SPAC: Pivotal Investment Corporation II (NYSE:PIC)
Private Company: XL Fleet
It looks like Dec. 21 will be a big deal for SPAC merger news. That is because Pivotal Investment shareholders will also take a vote that day on the XL Fleet merger. If all goes well, XL Fleet would then start trading on the NYSE under the ticker XL.
As InvestorPlace contributor Robert Lakin wrote about PIC stock earlier this week, there is no room for SPAC fatigue here. That is because XL Fleet is particularly appealing — it helps electrify existing commercial-grade trucks. With a major trend booming in electrification, it is no surprise PIC stock has been trending higher.
No. 5: Microvast SPAC Merger News
SPAC: Tuscan Holdings (NASDAQ:THCB)
Private Company: Microvast
Tuscan Holdings and THCB stock were on the move this week for an interesting reason. Right now, it looks like Tuscan Holdings will bring Microvast public. And importantly, Microvast specializes in making battery systems to help electrify city transit. This means its battery systems power buses, taxis and passenger vehicles.
The move in THCB stock this week came after QuantumScape (NYSE:QS) shared some major battery advancements. It looks like investors just want more battery stocks, and that bodes well for the Microvast SPAC merger.
No. 6: Genius Sports SPAC Merger News
SPAC: dMY Technologies (NYSE:DMYD)
Private Company: Genius Sports
dMY Technologies stands out from many of the names on that list. Why? The company it is acquiring, Genius Sports, focuses on the world of sports betting. Essentially, Genius Sports provides data on major sporting events to the betting industry. It has partnerships with the major leagues, like the NBA and the NCAA.
This week, it seems that a combination of things hit DMYD stock. Some investors were first learning about the SPAC merger news. Others were excited to hear that Genius Sports just signed a new deal that will see it commercialize another 500 events per year.
No. 7: Weedmaps SPAC Merger News
SPAC: Silver Spike Acquisition (NASDAQ:SSPK)
Private Company: Weedmaps
Silver Spike has been trading since August, but just popped into the spotlight this week. The move comes after the blank-check company announced plans to acquire Weedmaps. Importantly, Weedmaps is an online marketplace for marijuana consumers and businesses. It also has a software-as-a-service offering for cannabis retailers.
Perhaps the jump in SSPK stock can be best explained by current political catalysts. Following the House of Representatives passing the Marijuana Opportunity Reinvestment and Expungement (MORE) Act, many investors are rooting for federal decriminalization. Such a move would surely lift cannabis plays like the Weedmaps SPAC merger.
No. 8: McLaren SPAC Merger News
Private Company: McLaren
The McLaren SPAC merger news is a little bit different. As of right now, the British maker of super cars has not announced a merger with a blank-check company. However, CEO Mike Flewitt acknowledged that it is time for the automaker to make a radical change. This comes after Covid-19 forced the company to make massive layoffs and decimated sales.
Right now, it sounds like McLaren is considering a SPAC merger some time in 2021. Such a deal could help it raise as much as 500 million British pounds.
No. 9: Desktop Metal SPAC Merger News
The Desktop Metal SPAC merger news this week was also a little different. In fact, Desktop Metal completed its reverse merger and started trading on the NYSE. Now, investors can buy and sell shares of DM stock.
Importantly, Desktop Metal is a specialist in the world of 3D printing. Following the merger, the company shared that it hopes to release more commercial 3D printing solutions in the near future. This makes sense, especially as the 3D printing space continues to heat up.
No. 10: Lightning eMotors SPAC Merger News
SPAC: GigCapital3 (NYSE:GIK)
Private Company: Lightning eMotors
Today, GigCapital3 and GIK stock were captivating investors. This comes along with news that the blank-check company will take Lightning eMotors public. Importantly, Lightning eMotors specializes in solutions for zero-emission vehicles like vehicle control software and charging stations.
Right now, Lightning eMotors already has full fleets on the road, thanks to partnerships with a handful of commercial customers. Another thing that stands out is its backlog of 1,500 vehicles for the next two years.
No. 11: EVBox SPAC Merger News
SPAC: TPG Pace (NYSE:TPGY)
Private Company: EVBox
Today, investors learned that TPG Pace will be taking EVBox public, and TPGY stock was trending higher as a result. Importantly, EVBox is the subsidiary of a company focused on reducing emissions. And even more importantly, EVBox works to achieve this focus as an EV charging business.
What else should investors know? Well, EVBox stands out as one of the largest EV charging businesses in Europe. Right now, it has 19,000 charging ports.
No. 12: Innoviz SPAC Merger News
SPAC: Collective Growth (NASDAQ:CGRO)
Private Company: Innoviz
Today, Collective Growth confirmed rumors that the blank-check company would take Israeli startup Innoviz public. Importantly, Innoviz specializes in LiDAR sensors for autonomous vehicles. No wonder CGRO stock looks hot!
Investors have likely seen the rise in interest in self-driving car companies. Following the closing of the Luminar (NASDAQ:LAZR) deal, it seems that all LiDAR companies are benefitting. That bodes well for CGRO ahead of the Innoviz SPAC merger.
No. 13: Electric Last Mile SPAC Merger News
SPAC: Forum Merger III (NASDAQ:FIII)
Private Company: Electric Last Mile Solutions
Friday brought news of yet another EV SPAC merger. It turns out that Forum Merger III will bring Electric Last Mile Solutions, a maker of all-electric commercial vehicles, to the public markets.
Perhaps the most exciting thing for FIII stock is that Electric Last Mile is working on launching its urban delivery van. According to the company, this will be the first Class 1 commercial-grade vehicle in the United States.
On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Sarah Smith is a Web Content Producer with InvestorPlace.com.