The Daily Dish (08/06/21)

Cathie Wood’s ARK Invest Doubles Down on Biotech SPAC

An ARK Invest ETF run by Cathie Wood bought 2 million shares of Soaring Eagle Acquisitions Corp, with the transaction roughly valued at $19.2 million.

This is doubling down on the huge purchase that Wood & Co made earlier this week. Previously, ARK Genomic Revolution ETF bought over 4.14 million shares of the SPAC, valuing the purchase at $41 Million.  

Pico Planning $1.75 Billion SPAC Merger

Financial Infrastructure Company Pico is planning to go public through $1.75 Billion merger with FTAC Athena Acquisition Corp.

Founded in 2009, the company provides trading cloud infrastructure hosting to financial market participants, including 24 of the top 25 banks, 36 exchanges and a host of hedge funds. 

Pico is expected to generate $450 million from the merger, which is supported by a PIPE investment of $200 million, with the company expected to list on Nasdaq after the merger.

The company plans to use the capital for strategic acquisitions and enhance its visibility with clients and the market place. 

Ardagh Metal Completes Debut After SPAC Merger  

Ardagh Metal Packaging, the drink cans unit of Paul Coulson’s Ardagh Group completed its debut on the NYSE after its SPAC Merger with Gores Holding V. AMP.

The company has received $1 Billion in proceedings from the merger, which includes a PIPE placement. Ardagh group retains an 82% stake in AMP, with CEO Paul Coulson holding a 33% indirect stake in the Ardagh Group. 

Credijusto, CIAL Dun & Bradstreet Going Public Through SPAC Merger 

Freedom Acquisition Corp, an SPAC from Former Credit Suisse CEO Tidjane Thiam, is in merger talks with Mexican fintech group Credijusto and Latin American corporate data provider CIAL, Dun & Bradstreet.

The combined entity is valued at around $1.5 Billion and is expected to list on the New York Stock Exchange later in the year. 

The combined company will have have operations in 43 countries after the transaction. The company is planning to expand to other parts pf the world such as the United States, Africa and the Middle East.

Thiam, who resigned as the CEO last seat after a spying scandal, had raised $345 million in March through an IPO. 

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