THCAU News

Silver Spike Acquisition (SSPKU) raised $250 million this past week, the year's third blank check company targeting the cannabis industry. The SPAC is led by Scott Gordon, Chairman of cannabis-focused investment firm Egg Rock Holdings and a former portfolio manager at Taconic Capital. Silver Spike follows two other 2019 blank checks, ...read more

The post-Independence Day week was slow, but things are looking up: the public market is gaining steam with the Renaissance IPO Index up 40% YTD, and companies are claiming their spots on the IPO calendar. Three SPACs entered the public market this week, four companies and one SPAC submitted initial filings, and 12 companies set terms. Pivotal Investment Corp II (PIC.U), a...read more

Tuscan Holdings Corp II, the second blank check company led by Stephen Vogel targeting the cannabis industry, raised $150 million by offering 15 million units at $10. The company originally planned to raise $125 million. Each unit consists of one share of common stock and one-half of one warrant, with each whole warrant entitling the holder to purchase one share at a price of...read more

Just two blank check companies are scheduled to price in the week ahead, following the July 4th holiday. We also expect a number of new launches in the coming week. Likely candidates include healthcare software provider Phreesia (PHR), customer feedback platform Medallia (MDLA), and rare disease biotechs ...read more