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the nearly 30-year history of these
blank-check companies. Needless
to say, there is plenty of SPAC
activity looming on the horizon.
Endeavor Catalyst is getting a
piece of the SPACtion. Innovative
indoor farming company,
AppHarvest (right) out of Louisville,
KY, listed on the NASDAQ via a
highly-anticipated (and well-
received) SPAC debut in February.
Today, the company is valued at
$1.3B+. Anghami (lower left), the
leading music streaming platform
in MENA, is also poised to go public
via SPAC, and will represent the first
Arab technology company to be
listed on the NASDAQ. While these
are the first within the Endeavor
portfolio, we certainly don't think
they will be the last.
Going SPAC is not without its
risks, though. Lower barriers to entry
may lead companies that wouldn't
traditionally qualify to go public via
the typical underwriting process to
go public, a concern for companies
and investors alike. Additionally,
the SEC recently announced
increased scrutiny of accounting
and growth projections being used
in the SPAC process.
While going SPAC may not be the
appropriate path for all companies,
it's an exciting "new" addition to the
toolkit to finance entrepreneurs
building great companies. Click
here to read on and learn more!
Investment Date:
December 2016
Proposed Date of SPAC Debut:
Q2 2021
Proposed Valuation:
$220M
SPAC Sponsor:
Vistas Media Acquisition Company
Investment Date:
July 2020
Date of SPAC Debut:
February 2021
Valuation at Debut:
$1B+
SPAC Sponsor:
Novus Capital
S P O T L I G H T
