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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":692869566,"tweetId":"692869566","gmtCreate":1640916694077,"gmtModify":1640916694321,"author":{"id":3581634125853828,"idStr":"3581634125853828","authorId":3581634125853828,"authorIdStr":"3581634125853828","name":"RaymondLim","avatar":"https://static.tigerbbs.com/d3081d4d67e2198188bc8039305c484f","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":22,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>Ok</body></html>","htmlText":"<html><head></head><body>Ok</body></html>","text":"Ok","highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/692869566","repostId":1149905027,"repostType":4,"repost":{"id":"1149905027","kind":"news","pubTimestamp":1640915848,"share":"https://www.laohu8.com/m/news/1149905027?lang=zh_CN&edition=full","pubTime":"2021-12-31 09:57","market":"us","language":"en","title":"Top 5 SPACs of 2021<blockquote>2021年排名前5的SPAC</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1149905027","media":"TheStreet","summary":"Many private companies went public in 2021, reaping the benefit of investors who sought to allocate ","content":"<html><head></head><body>Many private companies went public in 2021, reaping the benefit of investors who sought to allocate their money into the public market, including ones that chose the SPAC route instead of the standard IPO strategy.<blockquote><html><head></head><body>许多私营公司于2021年上市，受益于寻求将资金分配到公开市场的投资者，包括那些选择SPAC路线而不是标准IPO策略的投资者。</body></html></blockquote>Special Purpose Acquisition Companies, or SPACs, were the preferred route for hundreds of companies. Even by March 31 there were 378 IPOs in the U.S., which is more than any entire calendar year between 2003 and 2019, said Duncan Lamont, head of strategic research unit at Schroders, a London-based asset manager.<blockquote>特殊目的收购公司（SPAC）是数百家公司的首选途径。总部位于伦敦的资产管理公司施罗德（Schroders）战略研究部主管邓肯·拉蒙特（Duncan Lamont）表示，即使到3月31日，美国也有378起IPO，比2003年至2019年期间的任何一个日历年都多。</blockquote>The $139 billion that was raised by the end of March was over two and a half times the yearly average over this period and consisted of 79% of the year’s IPOs by number and 69% by value were SPACs, he said.<blockquote>他表示，截至3月底，筹集的1390亿美元是同期年平均水平的两倍半以上，其中SPAC占当年IPO数量的79%，按价值计算占69%。</blockquote>While the mania to go public via a SPAC later died down, on a year-to-date basis these figures are still 63% and 49%, Lamont said.<blockquote>拉蒙特表示，虽然通过SPAC上市的热潮后来消退，但今年迄今为止，这些数字仍为63%和49%。</blockquote>In 2020 there were 248 SPAC IPOs, but a record-breaking 602 were filed in 2021.<blockquote>2020年有248起SPAC IPO，但2021年有创纪录的602起。</blockquote>“2021 has obliterated that record,” he said. “The amount of money raised this year so far has also overtaken last year’s record total. The $160 billion of SPAC IPOs in 2021 is more than the total that was raised across 2003-20 combined.”<blockquote>“2021年已经抹去了这一记录，”他说。“今年迄今为止筹集的资金总额也超过了去年创纪录的总额。2021年SPAC IPO的1600亿美元超过了2003-20年筹集的资金总额的总和。”</blockquote>Going public has its benefits, but companies have sought to circumvent some of the perceived drawbacks of the IPO process by choosing SPACs, Lamont said.<blockquote>拉蒙特表示，上市有其好处，但公司试图通过选择SPAC来规避IPO过程中的一些明显缺点。</blockquote>“They give the potential for private companies to sell themselves for a higher price than in a traditional IPO, can give more certainty on pricing, can be faster (5-6 months vs 12-24 months for a traditional IPO) and can be less burdensome and hence less costly from a regulatory perspective,” he said.<blockquote>“它们使私营公司有可能以比传统IPO更高的价格出售自己，可以提供更多的定价确定性，可以更快（5-6个月，而传统IPO为12-24个月），并且可以从监管角度来看，负担更轻，因此成本更低，”他说。</blockquote>In hisYear in Review columnReal Money’s James &#34;Rev Shark&#34; DePorre says the broader market had a very tough go of it in 2021, but you wouldn&#39;t know it unless you do some digging.From Reddit and Diamond Hands to SPACs and a stealth bear market, it&#39;s been a wild ride. Get more of his insights and trading strategies on Real Money.Since a merger with a SPAC can be negotiated at a fair value, some companies opt to avoid the IPO “pop” where they are priced to “encourage a jump in the share price on the first day of trading,” Lamont said.<blockquote>Real Money的James“Rev Shark”DePorre在他的年度回顾专栏中表示，2021年大盘经历了非常艰难的时期，但除非你做一些挖掘，否则你不会知道。从Reddit和Diamond Hands到SPAC和隐形熊市，这是一次疯狂的旅程。获取更多他对真钱的见解和交易策略。拉蒙特表示，由于与SPAC的合并可以以公允价值进行谈判，因此一些公司选择避免IPO“流行”，其定价是为了“鼓励股价在交易首日上涨”。</blockquote>Another benefit of going public via a SPAC is that private companies can use forward looking statements when marketing themselves to a SPAC, “something which is particularly appealing for fast growing companies,” he said.<blockquote>通过SPAC上市的另一个好处是，私营公司在向SPAC推销自己时可以使用前瞻性陈述，“这对快速增长的公司特别有吸引力，”他说。</blockquote>A traditional IPO prospectus is only allowed to report historical financials. Instead, SPAC mergers have a legal “safe harbor” from any such liability, Lamont said.<blockquote>传统的IPO招股说明书只允许报告历史财务数据。拉蒙特表示，相反，SPAC合并拥有免受任何此类责任的合法“安全港”。</blockquote>While going public as a SPAC appears to be a way to raise capital for a company easily, some investors have lost interest already. Many companies wind up losing valuation quickly.<blockquote>虽然作为SPAC上市似乎是公司轻松筹集资金的一种方式，但一些投资者已经失去了兴趣。许多公司最终估值迅速下降。</blockquote>A 2020 academic paper written by Michael Klausner, a Stanford Law professor and Michael Ohlrogge, a NYU School of Law professor, showed that most underperform the wider market after a deal is struck.<blockquote>斯坦福大学法学教授迈克尔·克劳斯纳(Michael Klausner)和纽约大学法学院教授迈克尔·奥尔罗格(Michael Ohlrogge)在2020年撰写的一篇学术论文显示，交易达成后，大多数股票的表现都逊于大盘。</blockquote>“Interestingly, they find that results are far better for ‘high quality sponsors,’ which they define to be individuals who are affiliated with a private assets fund with more than $1 billion of assets, or who have been a CEO or other senior officer at a Fortune 500 company,” Lamont said.<blockquote>“有趣的是，他们发现‘高质量赞助商’的结果要好得多，他们将高质量赞助商定义为隶属于资产超过10亿美元的私人资产基金的个人，或者曾担任首席执行官或其他高级官员的个人。财富500强公司，”拉蒙特说。</blockquote>One indicator of waning enthusiasm for SPACs recently months is that 90% of the SPACs that listed in the U.S. in the first eight months of 2021 were trading below their IPO price by the end of the third quarter.<blockquote>近几个月来，SPAC热情减弱的一个指标是，2021年前8个月在美国上市的SPAC中，90%的交易价格在第三季度末低于IPO价格。</blockquote>Here are the top five SPACs that are venture-backed and completed mergers with target companies, according to Dec. 22 data from Crunchbase.<blockquote>根据Crunchbase 12月22日的数据，以下是由风险投资支持并与目标公司完成合并的前五名SPAC。</blockquote>1. SoFi<blockquote>1.SoFi</blockquote>SPAC proceeds: $2.4 billion <blockquote>SPAC收益：24亿美元</blockquote>SPAC valuation: $8.65 billion<blockquote>SPAC估值：86.5亿美元</blockquote>SoFi (SOFI) is a fintech company that offers investing and loans, including home and student loans. The company went public after it merged with one of Chamath Palihapitiya’s SPACs.<blockquote>索菲（索菲）是一家金融科技公司，提供投资和贷款，包括住房和学生贷款。该公司在与Chamath Palihapitiya的一家SPAC合并后上市。</blockquote>2. Clover Health<blockquote>2.三叶草健康</blockquote>SPAC proceeds: Up to $1.2 billion <blockquote>SPAC收益：高达12亿美元</blockquote>SPAC valuation: $7 billion, according to the Silicon Valley Business Journal<blockquote>据《硅谷商业杂志》报道，SPAC估值：70亿美元</blockquote>Clover Health (CLOV) is a health insurance company for seniors that was the first VC-backed company to go public via a SPAC. The startup was acquired by Social Capital Hedosophia V, Chamath Palihapitiya’s SPAC.<blockquote>三叶草健康(克洛夫）是一家老年人健康保险公司，是第一家通过SPAC上市的风险投资支持的公司。这家初创公司被Chamath Palihapitiya的SPAC社会资本Hedosophia V收购。</blockquote>3. BarkBox<blockquote>3.树皮箱</blockquote>SPAC proceeds: $454 million <blockquote>SPAC收益：4.54亿美元</blockquote>SPAC valuation: $1.6 billion<blockquote>SPAC估值：16亿美元</blockquote>Barkbox (BARK), the subscription e-commerce company that offers toys and other products for dogs merged with Northern Star Acquisition Group.<blockquote>树皮箱（吠），为狗提供玩具和其他产品的订阅电子商务公司与Northern Star Acquisition Group合并。</blockquote>4. Hims and Hers Health<blockquote>4.他和她的健康</blockquote><li>SPAC proceeds: $280 million</li><li>SPAC valuation: $1.6 billion, according to Forbes</li><li></li>Hims and Hers Health (HIMS)  offers both health products for women and men and merged with SPAC company Oaktree Acquisitions Corp. The deal was among the first major VC-backed SPAC mergers to be completed in 2021, Crunchbase reported.<blockquote><li>SPAC收益：2.8亿美元</li><li>据《福布斯》报道，SPAC估值：16亿美元</li><li></li>他和她的健康（HIMS）为女性和男性提供健康产品，并与SPAC公司Oaktree Acquisitions Corp.合并。据Crunchbase报道，该交易是2021年完成的首批风险投资支持的SPAC重大合并之一。</blockquote>5. Billtrust<blockquote>5.比尔信托</blockquote>SPAC valuation: $1.3 billion<blockquote>SPAC估值：13亿美元</blockquote>Billtrust, (BTRS) a payment-cycle management platform, merged with South Mountain Merger Corp.<blockquote>比尔信托，（BTRS）支付周期管理平台，与South Mountain Merger Corp.合并。</blockquote></body></html><blockquote></blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Top 5 SPACs of 2021<blockquote>2021年排名前5的SPAC</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTop 5 SPACs of 2021<blockquote>2021年排名前5的SPAC</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nTheStreet2021-12-31 09:57\n\n</h4>\n</header>\n<article>\n<html><head></head><body>Many private companies went public in 2021, reaping the benefit of investors who sought to allocate their money into the public market, including ones that chose the SPAC route instead of the standard IPO strategy.<blockquote><html><head></head><body>许多私营公司于2021年上市，受益于寻求将资金分配到公开市场的投资者，包括那些选择SPAC路线而不是标准IPO策略的投资者。</body></html></blockquote>Special Purpose Acquisition Companies, or SPACs, were the preferred route for hundreds of companies. Even by March 31 there were 378 IPOs in the U.S., which is more than any entire calendar year between 2003 and 2019, said Duncan Lamont, head of strategic research unit at Schroders, a London-based asset manager.<blockquote>特殊目的收购公司（SPAC）是数百家公司的首选途径。总部位于伦敦的资产管理公司施罗德（Schroders）战略研究部主管邓肯·拉蒙特（Duncan Lamont）表示，即使到3月31日，美国也有378起IPO，比2003年至2019年期间的任何一个日历年都多。</blockquote>The $139 billion that was raised by the end of March was over two and a half times the yearly average over this period and consisted of 79% of the year’s IPOs by number and 69% by value were SPACs, he said.<blockquote>他表示，截至3月底，筹集的1390亿美元是同期年平均水平的两倍半以上，其中SPAC占当年IPO数量的79%，按价值计算占69%。</blockquote>While the mania to go public via a SPAC later died down, on a year-to-date basis these figures are still 63% and 49%, Lamont said.<blockquote>拉蒙特表示，虽然通过SPAC上市的热潮后来消退，但今年迄今为止，这些数字仍为63%和49%。</blockquote>In 2020 there were 248 SPAC IPOs, but a record-breaking 602 were filed in 2021.<blockquote>2020年有248起SPAC IPO，但2021年有创纪录的602起。</blockquote>“2021 has obliterated that record,” he said. “The amount of money raised this year so far has also overtaken last year’s record total. The $160 billion of SPAC IPOs in 2021 is more than the total that was raised across 2003-20 combined.”<blockquote>“2021年已经抹去了这一记录，”他说。“今年迄今为止筹集的资金总额也超过了去年创纪录的总额。2021年SPAC IPO的1600亿美元超过了2003-20年筹集的资金总额的总和。”</blockquote>Going public has its benefits, but companies have sought to circumvent some of the perceived drawbacks of the IPO process by choosing SPACs, Lamont said.<blockquote>拉蒙特表示，上市有其好处，但公司试图通过选择SPAC来规避IPO过程中的一些明显缺点。</blockquote>“They give the potential for private companies to sell themselves for a higher price than in a traditional IPO, can give more certainty on pricing, can be faster (5-6 months vs 12-24 months for a traditional IPO) and can be less burdensome and hence less costly from a regulatory perspective,” he said.<blockquote>“它们使私营公司有可能以比传统IPO更高的价格出售自己，可以提供更多的定价确定性，可以更快（5-6个月，而传统IPO为12-24个月），并且可以从监管角度来看，负担更轻，因此成本更低，”他说。</blockquote>In hisYear in Review columnReal Money’s James &#34;Rev Shark&#34; DePorre says the broader market had a very tough go of it in 2021, but you wouldn&#39;t know it unless you do some digging.From Reddit and Diamond Hands to SPACs and a stealth bear market, it&#39;s been a wild ride. Get more of his insights and trading strategies on Real Money.Since a merger with a SPAC can be negotiated at a fair value, some companies opt to avoid the IPO “pop” where they are priced to “encourage a jump in the share price on the first day of trading,” Lamont said.<blockquote>Real Money的James“Rev Shark”DePorre在他的年度回顾专栏中表示，2021年大盘经历了非常艰难的时期，但除非你做一些挖掘，否则你不会知道。从Reddit和Diamond Hands到SPAC和隐形熊市，这是一次疯狂的旅程。获取更多他对真钱的见解和交易策略。拉蒙特表示，由于与SPAC的合并可以以公允价值进行谈判，因此一些公司选择避免IPO“流行”，其定价是为了“鼓励股价在交易首日上涨”。</blockquote>Another benefit of going public via a SPAC is that private companies can use forward looking statements when marketing themselves to a SPAC, “something which is particularly appealing for fast growing companies,” he said.<blockquote>通过SPAC上市的另一个好处是，私营公司在向SPAC推销自己时可以使用前瞻性陈述，“这对快速增长的公司特别有吸引力，”他说。</blockquote>A traditional IPO prospectus is only allowed to report historical financials. Instead, SPAC mergers have a legal “safe harbor” from any such liability, Lamont said.<blockquote>传统的IPO招股说明书只允许报告历史财务数据。拉蒙特表示，相反，SPAC合并拥有免受任何此类责任的合法“安全港”。</blockquote>While going public as a SPAC appears to be a way to raise capital for a company easily, some investors have lost interest already. Many companies wind up losing valuation quickly.<blockquote>虽然作为SPAC上市似乎是公司轻松筹集资金的一种方式，但一些投资者已经失去了兴趣。许多公司最终估值迅速下降。</blockquote>A 2020 academic paper written by Michael Klausner, a Stanford Law professor and Michael Ohlrogge, a NYU School of Law professor, showed that most underperform the wider market after a deal is struck.<blockquote>斯坦福大学法学教授迈克尔·克劳斯纳(Michael Klausner)和纽约大学法学院教授迈克尔·奥尔罗格(Michael Ohlrogge)在2020年撰写的一篇学术论文显示，交易达成后，大多数股票的表现都逊于大盘。</blockquote>“Interestingly, they find that results are far better for ‘high quality sponsors,’ which they define to be individuals who are affiliated with a private assets fund with more than $1 billion of assets, or who have been a CEO or other senior officer at a Fortune 500 company,” Lamont said.<blockquote>“有趣的是，他们发现‘高质量赞助商’的结果要好得多，他们将高质量赞助商定义为隶属于资产超过10亿美元的私人资产基金的个人，或者曾担任首席执行官或其他高级官员的个人。财富500强公司，”拉蒙特说。</blockquote>One indicator of waning enthusiasm for SPACs recently months is that 90% of the SPACs that listed in the U.S. in the first eight months of 2021 were trading below their IPO price by the end of the third quarter.<blockquote>近几个月来，SPAC热情减弱的一个指标是，2021年前8个月在美国上市的SPAC中，90%的交易价格在第三季度末低于IPO价格。</blockquote>Here are the top five SPACs that are venture-backed and completed mergers with target companies, according to Dec. 22 data from Crunchbase.<blockquote>根据Crunchbase 12月22日的数据，以下是由风险投资支持并与目标公司完成合并的前五名SPAC。</blockquote>1. SoFi<blockquote>1.SoFi</blockquote>SPAC proceeds: $2.4 billion <blockquote>SPAC收益：24亿美元</blockquote>SPAC valuation: $8.65 billion<blockquote>SPAC估值：86.5亿美元</blockquote>SoFi (SOFI) is a fintech company that offers investing and loans, including home and student loans. The company went public after it merged with one of Chamath Palihapitiya’s SPACs.<blockquote>索菲（索菲）是一家金融科技公司，提供投资和贷款，包括住房和学生贷款。该公司在与Chamath Palihapitiya的一家SPAC合并后上市。</blockquote>2. Clover Health<blockquote>2.三叶草健康</blockquote>SPAC proceeds: Up to $1.2 billion <blockquote>SPAC收益：高达12亿美元</blockquote>SPAC valuation: $7 billion, according to the Silicon Valley Business Journal<blockquote>据《硅谷商业杂志》报道，SPAC估值：70亿美元</blockquote>Clover Health (CLOV) is a health insurance company for seniors that was the first VC-backed company to go public via a SPAC. The startup was acquired by Social Capital Hedosophia V, Chamath Palihapitiya’s SPAC.<blockquote>三叶草健康(克洛夫）是一家老年人健康保险公司，是第一家通过SPAC上市的风险投资支持的公司。这家初创公司被Chamath Palihapitiya的SPAC社会资本Hedosophia V收购。</blockquote>3. BarkBox<blockquote>3.树皮箱</blockquote>SPAC proceeds: $454 million <blockquote>SPAC收益：4.54亿美元</blockquote>SPAC valuation: $1.6 billion<blockquote>SPAC估值：16亿美元</blockquote>Barkbox (BARK), the subscription e-commerce company that offers toys and other products for dogs merged with Northern Star Acquisition Group.<blockquote>树皮箱（吠），为狗提供玩具和其他产品的订阅电子商务公司与Northern Star Acquisition Group合并。</blockquote>4. Hims and Hers Health<blockquote>4.他和她的健康</blockquote><li>SPAC proceeds: $280 million</li><li>SPAC valuation: $1.6 billion, according to Forbes</li><li></li>Hims and Hers Health (HIMS)  offers both health products for women and men and merged with SPAC company Oaktree Acquisitions Corp. The deal was among the first major VC-backed SPAC mergers to be completed in 2021, Crunchbase reported.<blockquote><li>SPAC收益：2.8亿美元</li><li>据《福布斯》报道，SPAC估值：16亿美元</li><li></li>他和她的健康（HIMS）为女性和男性提供健康产品，并与SPAC公司Oaktree Acquisitions Corp.合并。据Crunchbase报道，该交易是2021年完成的首批风险投资支持的SPAC重大合并之一。</blockquote>5. Billtrust<blockquote>5.比尔信托</blockquote>SPAC valuation: $1.3 billion<blockquote>SPAC估值：13亿美元</blockquote>Billtrust, (BTRS) a payment-cycle management platform, merged with South Mountain Merger Corp.<blockquote>比尔信托，（BTRS）支付周期管理平台，与South Mountain Merger Corp.合并。</blockquote></body></html><blockquote></blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.thestreet.com/markets/ipos/top-5-spacs-of-2021?puc=yahoo&cm_ven=YAHOO\">TheStreet</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CLOV":"Clover Health Corp","HIMS":"Hims & Hers Health Inc.","BARK":"The Original Bark Corp.","SOFI":"SoFi Technologies Inc.","BTRS":"BTRS Holdings Inc."},"source_url":"https://www.thestreet.com/markets/ipos/top-5-spacs-of-2021?puc=yahoo&cm_ven=YAHOO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149905027","content_text":"Many private companies went public in 2021, reaping the benefit of investors who sought to allocate their money into the public market, including ones that chose the SPAC route instead of the standard IPO strategy.Special Purpose Acquisition Companies, or SPACs, were the preferred route for hundreds of companies. Even by March 31 there were 378 IPOs in the U.S., which is more than any entire calendar year between 2003 and 2019, said Duncan Lamont, head of strategic research unit at Schroders, a London-based asset manager.The $139 billion that was raised by the end of March was over two and a half times the yearly average over this period and consisted of 79% of the year’s IPOs by number and 69% by value were SPACs, he said.While the mania to go public via a SPAC later died down, on a year-to-date basis these figures are still 63% and 49%, Lamont said.In 2020 there were 248 SPAC IPOs, but a record-breaking 602 were filed in 2021.“2021 has obliterated that record,” he said. “The amount of money raised this year so far has also overtaken last year’s record total. The $160 billion of SPAC IPOs in 2021 is more than the total that was raised across 2003-20 combined.”Going public has its benefits, but companies have sought to circumvent some of the perceived drawbacks of the IPO process by choosing SPACs, Lamont said.“They give the potential for private companies to sell themselves for a higher price than in a traditional IPO, can give more certainty on pricing, can be faster (5-6 months vs 12-24 months for a traditional IPO) and can be less burdensome and hence less costly from a regulatory perspective,” he said.In hisYear in Review columnReal Money’s James \"Rev Shark\" DePorre says the broader market had a very tough go of it in 2021, but you wouldn't know it unless you do some digging.From Reddit and Diamond Hands to SPACs and a stealth bear market, it's been a wild ride. Get more of his insights and trading strategies on Real Money.Since a merger with a SPAC can be negotiated at a fair value, some companies opt to avoid the IPO “pop” where they are priced to “encourage a jump in the share price on the first day of trading,” Lamont said.Another benefit of going public via a SPAC is that private companies can use forward looking statements when marketing themselves to a SPAC, “something which is particularly appealing for fast growing companies,” he said.A traditional IPO prospectus is only allowed to report historical financials. Instead, SPAC mergers have a legal “safe harbor” from any such liability, Lamont said.While going public as a SPAC appears to be a way to raise capital for a company easily, some investors have lost interest already. Many companies wind up losing valuation quickly.A 2020 academic paper written by Michael Klausner, a Stanford Law professor and Michael Ohlrogge, a NYU School of Law professor, showed that most underperform the wider market after a deal is struck.“Interestingly, they find that results are far better for ‘high quality sponsors,’ which they define to be individuals who are affiliated with a private assets fund with more than $1 billion of assets, or who have been a CEO or other senior officer at a Fortune 500 company,” Lamont said.One indicator of waning enthusiasm for SPACs recently months is that 90% of the SPACs that listed in the U.S. in the first eight months of 2021 were trading below their IPO price by the end of the third quarter.Here are the top five SPACs that are venture-backed and completed mergers with target companies, according to Dec. 22 data from Crunchbase.1. SoFiSPAC proceeds: $2.4 billion SPAC valuation: $8.65 billionSoFi (SOFI) is a fintech company that offers investing and loans, including home and student loans. The company went public after it merged with one of Chamath Palihapitiya’s SPACs.2. Clover HealthSPAC proceeds: Up to $1.2 billion SPAC valuation: $7 billion, according to the Silicon Valley Business JournalClover Health (CLOV) is a health insurance company for seniors that was the first VC-backed company to go public via a SPAC. The startup was acquired by Social Capital Hedosophia V, Chamath Palihapitiya’s SPAC.3. BarkBoxSPAC proceeds: $454 million SPAC valuation: $1.6 billionBarkbox (BARK), the subscription e-commerce company that offers toys and other products for dogs merged with Northern Star Acquisition Group.4. Hims and Hers HealthSPAC proceeds: $280 millionSPAC valuation: $1.6 billion, according to ForbesHims and Hers Health (HIMS)  offers both health products for women and men and merged with SPAC company Oaktree Acquisitions Corp. The deal was among the first major VC-backed SPAC mergers to be completed in 2021, Crunchbase reported.5. BilltrustSPAC valuation: $1.3 billionBilltrust, (BTRS) a payment-cycle management platform, merged with South Mountain Merger Corp.","news_type":1,"symbols_score_info":{"BTRS":0.9,"SOFI":0.9,"BARK":0.9,"HIMS":0.9,"CLOV":0.9}},"isVote":1,"tweetType":1,"viewCount":3126,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/692869566"}