The Daily Dish (09/20/21)

Asia Vision Network Shelves SPAC Deal

The Indonesian holding company of OTT platform MNC Group has terminated plans to go public through a SPAC deal with Malacca Straits Acquisition Company.

PT Asia Vision Network was valued at $573 million from the SPAC merger. MLAC had raised $144 million in an IPO back in July last year to acquire a company in Southeast Asia.

Two Investment Firms Merge in $1.4 Billion SPAC Deal

Two investment companies, Tiedemann Group and Alvarium Investments are set to go public through a SPAC merger with Cartesian Growth Corp.

The combined company named Alvarium Tiedemann Holdings will reportedly be valued at $1.4 billion, with $54 billion in assets under management.

Reddit Reads

Spire Global (SPIR) Short Squeeze

The average daily volume over the last 5 days is only 2.3mm (115% float) for SPIR, whereas IRNT is 28.3mm (2,200% float), TMC 18.7mm (690% float), and OPAD 29.4mm (860% float). The stock is so illiquid that there’s a possibility of a short squeeze.

FinTech SPAC Valuation Comparison

Shareholders Approve HomeToGo SPAC Deal

Berlin based travel company HomeToGo will receive a cash injection of €250 million after its SPAC merger with Lakestar, although the proceeds from the merger are lower than anticipated due to higher redemptions. Shareholders of Lakestar voted to approve the deal.

The transaction is expected to close by the third quarter and values the company at €861 million. HometoGo will be listed on the Frankfurt Stock Exchange under the ticker ‘HTG’.

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