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Well hello there Masa Son – We’ve been expecting you

The Daily Dish (12/16/20)

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Softbank’s Masa Son and Peter Thiel Tee Up Tokopedia for SPAC debut

  • Fresh off a huge win [S-C-A-M] with the DoorDash initial public offering, the SoftBank Vision Fund has another big potential payout brewing, with a possible exit in the works for Tokopedia, an Indonesia-based e-commerce company.

  • Both Bloomberg and Reuters reported Tuesday that Tokopedia was in talks about potentially going public via a merger with a SPAC called Bridgetown Holdings ($BTWN), which was created by the billionaire venture capitalist and Facebook ($FB) board member Peter Thiel and Hong Kong tycoon Richard Li.

  • The Association of Southeast Asian Nations — said that Tokopedia is considered among the most valuable startups in the region.

Satellite-to-smartphone broadband company AST & Science to go public through a SPAC

  • “What we’re doing is launching a space-based satellite network that allows any phone – without any modification of hardware, software, apps, nothing – to be able to connect directly to satellites,” AST chairman and CEO Abel Avellan told CNBC.

  • Based in Midland, Texas, AST is building a network of satellites it calls “SpaceMobile,” designed to deliver broadband from space directly to consumer smartphones. Existing satellite networks require additional physical devices to connect to the service, such as Iridium’s mobile satellite phones or SpaceX’s Starlink user terminals.

  • AST will list on the Nasdaq under the ticker symbol “ASTS” when the deal closes, which is expected in the first quarter of next year. New Providence’s SPAC is currently listed under the symbol $NPA

indie Semiconductor Enters Definitive Merger Agreement with Thunder Bridge Acquisition II, Ltd.

  • Indie, is based in Aliso Viejo, Calif., and was founded in 2007. It makes sensors for electric and autonomous vehicles that enable advanced driver assistance systems, including LiDAR, and connected car, user experience, and vehicle electrification applications. (What’s that like 5 LiDAR SPACs now? 😳)

  • The company said its addressable market is expected to exceed $38 billion by 2025 and that its strategic backlog position is valued at more than $2 billion. But it lost $17 million on sales of just $23 million in 2019, according to a presentation that accompanied the merger announcement, and does not expect to turn a profit until 2023.

  • “[Indie CEO] Donald McClymont and his team have established a leadership franchise with a differentiated product offering, having shipped over 100 million units to Tier 1 automotive suppliers globally,” Simanson said in a news release.

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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 SPACs 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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