SUBSPAC

The Daily Dish (7/29/21)

Vacation Rental Company Vacasa Planning SPAC Merger 

Vacasa is set to go public through an SPAC merger with TPG Pace Solutions, which is expected to value the Oregon based company at a $4.5 Billion. Vacasa’s debut comes amidst the hospitality industry continuing to assess the impact of the delta variant on travel bookings.

Vacasa CEO Matt Roberts believes that there is no impact on bookings, with demand actually accelerating in recent weeks as more travellers enjoy their summer vacation. Vacasa’s business has thrived over the last year as a result of the increase in home ownership and a surge in vacation rental bookings. 

In addition to listing properties on its site, the company offers clients access to property management tools and booking solutions to manage rentals.

There were reports in April that the company was considering a SPAC merger and held meetings with Social Capital’s Chamath Palihapitiya and Altimeter Capital’s Brad Gerstner. Vacasa ultimately picked TPG, which was an early investor in companies like Airbnb, Uber and Norwegian Cruise Lines. 


Grofers Shelves Plan for SPAC Listing 

Online grocery firm Grofers has decided to shelf plans for a US SPAC Merger. Earlier in the year, it was reported that the company was in talks with New York based Cantor Fitzgerald’s SPAC to go public.

Grofers, which is backed by SoftBank, had planned to raise around $500 Million through the merger. 

Experts believe that the company decided to postpone its debut as a result of wariness amongst investors due to the flurry of SPACs.

Another issue which has plagued SPACS is the difficulty in securing PIPE investments, which inject funds into the merger. Grofers has instead decided to raise fresh funds from Zomato, with the two companies seeing synergies in doing business together. 


Nanosys in Talks for $1 Billion SPAC Listing 

Nanosys, a company which specialises in developing quantum-dot technology for electronic displays, is in talks to go public through a SPAC merger with GigInternational1, in a deal valuing the combined company at $1 Billion.

Consumer Technology companies have shipped over 35 million devices like tablets, monitors and televisions which are based on the company’s quantum dot technology. 

In addition, the company owns or has exclusive license rights to over 1000 issued patents.

Quantum dots are small man made crystals which are invisible to the human eye, that behave as semiconductors and improve viewer experiences by emitting energy in the form of light. 


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