I Would Like 2 See Exro Break out the BCS side Into a SPAC ?Give current shareholders a half - full share of the new SPAC ??
Todays SPAC with Polestar......
- Swedish electric-car maker Polestar said on Monday it will go public by merging with a U.S.-listed blank-check firm backed by billionaire Alec Gores and investment bank Guggenheim Partners at an enterprise value of $20 billion.
- The Polestar deal will be supported by cash proceeds of around $800 million from Gores Guggenheim Inc, assuming no share redemptions by public stockholders of the blank-check firm.
- The deal also includes a PIPE, or private investment in public equity, of $250 million from top-tier institutional investors.
- Polestar, backed by Volvo Car Group and affiliates of Geely Chairman Eric Li, also counts Hollywood actor Leonardo DiCaprio among its investors.
The Bottom Line
SPACs often appeal to founders of promising young companies that lack the scale, profits and/or predictability required for a traditional IPO. These companies might also be a great match with a growth-oriented PE firm that understands their verticals and can help them make a quantum leap in operations and profitability. (from forbes article)