The Latest SPAC News and Rumors: November 19, 2021
Below is a daily summary of links to theca latest SPAC news and rumors gathered across the web.
Latest SPAC News: Amsterdam hits IPO record as Europe’s SPAC capital and Palihapitiya sells down position in SoFi
Amsterdam Hits IPO Record as Europe’s SPAC Capital
The Dutch city, home to the world’s oldest stock exchange, has hosted 20 IPOs so far in 2021 for its highest-ever haul of 10.4 billion euros ($11.7 billion).
Businesses have flocked to Amsterdam as it usurped London as Europe’s premier share-trading center after Brexit. The Dutch exchange also attracted more SPACs than any other venue in the region, thanks to benign regulations and a deep pool of investors.
The latest is European Healthcare Acquisition & Growth Co BV, which made its debut Thursday. A total of 13 SPACs have listed in Amsterdam this year, including from big-name sponsors like UniCredit SpA’s former CEO Jean Pierre Mustier and billionaire Bernard Arnault.
READPalihapitiya Sells Down Position in Online Lender SoFi
Chamath Palihapitiya has sold down around 15% of his position in U.S. online lending company SoFi Technologies Inc (NASDAQ:SOFI) this week, the venture investor said in a tweet on Thursday.
Palihapitiya, founder and CEO of Social Capital, said the sale was to build up cash reserves and fund recent investments in companies such as battery materials firm Mitra Chem, fintech startup Spectral Finance and blockchain infrastructure company Syndica.