Two IPOs and three SPACs went public in the week of August 24, 2020, led by led by Xpeng (NYSE: XPEV), a Chinese electric vehicle maker that skyrocketed 41% in its first trading day and closed its first week at 52% above its IPO price.
Electric commercial vehicle manufacture, GreenPower Motor Co, (NASDAQ: GP) raised $37 million at a $361 million market cap and finished up 5%.
The three SPACs went public this past week are:
1. Burgundy Technology Acquisition. (tech industry SPAC)
2. FTAC Olympus Acquisition (fintech business SPAC)
3. CF Finance Acquisition II (no selected target industry)
Together, all the SPACs raised a total of $1.6 billion.
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