Can the SPAC-tacular returns in the EV space ride on?

Seeking Alpha2020-11-21

The pace of EV-SPAC deals in 2020 has been dizzying without showing any real signs of letting up despite some market turbulence on the way. A recap of some the deals recently completed or in the works...

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A recap of some the deals recently completed or in the works...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20201122010143773628c9&s=b\">网页链接</a>\n\n</div>\n","source":"tencent","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>Can the SPAC-tacular returns in the EV space ride on?</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nCan the SPAC-tacular returns in the EV space ride on?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2020-11-21 10:46 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20201122010143773628c9&s=b><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The pace of EV-SPAC deals in 2020 has been dizzying without showing any real signs of letting up despite some market turbulence on the way. A recap of some the deals recently completed or in the works...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20201122010143773628c9&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"03086","symbol_name":"华夏纳指","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20201122010143773628c9&s=b","article_id":"2085097253","we_media_id":null,"thumbnails":["https://static.tigerbbs.com/28009f8e87ba9680b5b94d59ba7ac119"],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20201122010143773628c9&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, .wx-sou","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2085097253","pubTimestamp":1605926808,"columns":[],"sourceInfo":{"source_id":"tencent","name":"腾讯"},"weMediaInfo":null,"summary":"The pace of EV-SPAC deals in 2020 has been dizzying without showing any real signs of letting up despite some market turbulence on the way. A recap of some the deals recently completed or in the works","collect":0,"end_time":0,"defaultTopTitle":"qq.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"03086":"华夏纳指","INTC":"英特尔","GRAF":"GRAF GLOBAL CORP","09086":"华夏纳指-U"},"translate_title":"Can the SPAC-tacular returns in the EV space ride on?","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"INTC":0.9,"03086":0.6,"09086":0.6,"FIII":0.6,"GMHI":0.6,"GRAF":0.6,"SBE":0.6,"THCB":0.6},"content_text":"The pace of EV-SPAC deals in 2020 has been dizzying without showing any real signs of letting up despite some market turbulence on the way. A recap of some the deals recently completed or in the works is below.Electric Last Mile Solutions is in talks to go public through a merger with Forum Merger III Corp.(NASDAQ:FIII). The company has a 675K square foot production plant in Indiana with a capacity to produce 100K vehicles annually.Lithium-ion battery maker QuantumScape is poised to combine with Kensington Capital(NYSE:KCAC). Shares of KCAC are up more than 30% over the last few weeks.Canoo (CNOO) is looking for SPAC magic through a business combination with Hennessy Capital(NASDAQ:HCAC). Canoo plans to offer its EV on a subscription-only basis when it goes into production in 2021 and wants to use a common skateboard platform across models.XL Fleet is aiming to go public through a merger with Pivotal Investment Corporation II(NYSE:PIC.U)with an anticipated implied enterprise value of ~$1B. XL Fleet is described as the leader in connected fleet electrification solutions for commercial and municipal fleets.EV battery maker Romeo Systems is in advanced talks to go public through a merger with blank-check company RMG Acquisition(NYSE:RMG). BorgWarner(NYSE:BWA)owns a piece of Romeo.EV startup Arrival (ARVL) confirmed that it entered into a definitive business combination agreement with CIIG Merger Corp.(NASDAQ:CIIC). Shares of CIIC shot up more than 60% over the last week off the SPAC excitement.Electric battery maker Microvast's merger talks with the blank check company Tuscan Holdings Corp(NASDAQ:THCBU)have reportedly progressed to advanced levels.EV charging company ChargePoint is drawing closer to its reverse merger with Switchback Energy Acquisition(NYSE:SBE).Lidar tech firm Luminar is going public through a $3.4B SPAC merger with Gores Metropoulos Inc(NASDAQ:GMHI). The company just inked a key deal with Mobileye(NASDAQ:INTC). Mobileye hopes to have a robotaxi service in operation by 2022 and sell its autonomous tech stack to other companies.Lidar company Aeva will go public through a reverse merger with SPAC InterPrivate Acquisition (IPV.U) at a post-deal valuation of $2.1B. The deal is expected to close in early 2021.Electric vehicle startup Faraday Future confirmed recently that it is working on a deal soon to go public through a reverse merger with a special purchase acquisition company.A few EV-SPAC deals already in the books include closely-watched Nikola(NASDAQ:NKLA), Fisker(NYSE:FSR), Lordstown Motors(NASDAQ:RIDE), Hyliion Holdings(NYSE:HYLN)and Velodyne Lidar(NASDAQ:VLDR). Here is some of the share price action since June 1 on those names.Outside of the SPAC world, Lucid and Rivian (RIVN) raised capital in the private market, while Chinese automakers Nio(NYSE:NIO), Li Auto(NASDAQ:LI)and XPeng Motors(NYSE:XPEV)all fired off traditional IPOs.Not to be lost in the shuffle, the EV mother ship is sitting on a market cap of over $460B. What is next for Tesla(NASDAQ:TSLA)?","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2085097253"}