Eight IPOs and 12 SPACs went public in the week of December 14, 2020, led by Wunong Net Technology (NASDAQ: WNW) online food product retail website, raised $30 million at a $125 million market cap and finished 1460% above its IPO price. The Shenzhen, China-based company was founded in 2018 and booked $8 million in sales for the 12 months ended December 31, 2019.
Cloud-based AI lending platform, Upstart (NASDAQ: UPST) raised $240 million at a $1.78 billion market cap and finished 120% above its IPO price. The San Mateo, California-based company was founded in 2012 and booked $209 million in revenue for the 12 months ended September 30, 2020.
The 12 SPACs went public this past week are:
1. Marquee Raine Acquisition (TMT industry SPAC)
2. INSU Acquisition III (insurance industry SPAC)
3. Churchill Capital Corp V (no selected target industry)
4. MedTech Acquisition (US medical technology business SPAC)
5. Corner Growth Acquisition (tech in the US and developed countries SPAC)
6. Golden Falcon Acquisition (TMT and fintech in Europe, North America, and the Middle East SPAC)
7. Blue Water Acquisition (healthcare business SPAC)
8. Americas Technology Acquisition (technology, media, and telecommunications sectors SPAC)
9. ScION Tech Growth I (technology SPAC)
10. Seven Oaks Acquisition (businesses with good ESG practices SPAC)
11. Dune Acquisition (SaaS business SPAC)
12. KINS Technology Group (tech industry SPAC)
Together, all the SPACs raised a total of $3.1 billion.
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