Reuters
Battery manufacturer QuantumScape is the latest company to make public the merger of a special target acquisition company, or SPAC.
The company announced Thursday that it will make its market debut after joining Kensington Capital Acquisition Corp. QuantumScape aims to go public with a valuation of $3. 3 billion, and the industry on the New York Stock Exchange with the QE is expected.
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Initial public offerings run through SPAC have grown in popularity through 2020, grossing around $34 billion in 84 SPAC transactions so far, according to SPACInsider. com. Last year, 59 transactions raised $13. 6 billion.
So-called white corporations raise capital in public markets with the aim of acquiring a personal enterprise, acquisitions take place within two years of SPAC’s arrival, such transactions can reposition classic IPO, such as a merger between the public CAPS and its staff. objective leads to public negotiation of the combined company.
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Other electric vehicle corporations that join the SPAC trend come with Fisker, Lordstown Motors and Canoo.
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