The Daily Dish (3/24/21)

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Here’s the first assist 👇

Velo3D to Go Public through Combination with $SPFR

VELO3D and Honeywell Aerospace Enter Partnership to Qualify VELO3D's  Sapphire™ Metal 3D Printer for Production of Aircraft Components | Business  Wire
  • Velo3D Inc. has announced to enter into an agreement with JAWS spitfire at an enterprise value of around $1.6 billion.

  • This transaction positions the 3D printing machines manufacturer for never-ending growth and success in the expanding market.

  • With JAWS Spitfire’s long-standing relationship, Velo3D is expected to bring innovative methods that were previously impossible.

  • As the transaction closes, Velo3D will have $345 million in proceeds from SPFR cash in trust as well as a$155 million private placement of the stock at a per-share value of $10.00.

Richard Branson Plans Next SPAC Deal for Virgin Orbit

How Richard Branson maintains the Virgin Group
  • Richard Branson is looking for a special-purpose acquisition company to merge with another of his space companies, according to a person familiar with the matter.

  • The billionaire’s satellite launcher, Virgin Orbit, has hired bankers including Credit Suisse Group AG to scout for a SPAC to take the company public with a valuation of as much as $3 billion

  • Branson’s Virgin Galactic Holdings Inc., which is developing a business to carry tourists to the edge of space, pioneered the SPAC boom for space companies with a 2019 deal. Credit Suisse and LionTree assisted with that merger, which raised $800 million for Virgin Galactic.

  • Virgin Orbit’s two-stage rocket attained orbit for the first time in January, deploying 10 small CubeSats as part of a National Aeronautics and Space Administration program. The company’s vehicle drops from the wing of a Boeing Co. 747 jet above 35,000 feet before igniting flying to space. The rocket failed to reach orbit during a previous launch attempt in May 2020.

Mainstreet Media Thinks The SPAC Bubble May Burst Soon – Again

Bubble Pop: Reflection Perfection | I think this is approach… | Flickr

I’ve spent the last week on vacation, and consequently, have had business television on a little more. Holy shit that was a mistake. All the talking heads basically repeat the same things over and over again all day long and in 15 different ways. Here’s a recap.

What I’ve heard about SPACs from watching CNBC the last week (The Bear Case):

  • SPAC have been hot in the recent past and raised more equity in 2020 than ever before

  • More and more SPACS hit the market. SPAC IPOs reached 200 last year, and the number is likely to surpass 1000 this year.

  • Huge Investment came from hedge funds, and colossal equity was raised. However, this trend might end poorly for investors.

  • SPACS represents a bubble pattern, and this bubble may burst in the near future as the over-generated hype caused SPACs to underperform out of the market.

  • The performance of high-quality SPAC mergers seems unimpressive, making everyone think that SPACs suffer from dilution.

Editor’s Takeaway (The Bull Case)

  • They are all hot takes – probably because they missed most of the SPAC mergers last year

  • Higher interest rates are causing SPAC IPO’s to be vulnerable to the overall market flows.

  • We saw a SPAC sector drawdown two times last year

  • SPACs are here to stay because it’s a quicker option to take a company public

  • For investors who make smart bets and identify winner deals, 2021 will be a great year.

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There’s No I In Trade

My goal is to create a community where people can educate themselves through the world of investing. I can’t do that alone, we need to build this community together. So tell me what you’re loving, tell me what you want to see more of tomorrow.

Disclaimer: This is not financial advice and should not be interpreted as such. I am not a financial advisor. I may currently own or have owned many of the securities mentioned above – but that does not mean I am invested now. My investing method is highly risky swing trading which means I am constantly in and out of positions. Please do your own research or hit up the #SPACsquad on Twitter to learn more about SPACs.


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