The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every weekend in your inbox. Hello readers: Welcome to The Station, your central hub for all past, present and future means of moving people and packages from Point A to Point B. Before … Read more
Quanergy Systems, the Sunnyvale, Calif.-Based lidar company, announced Tuesday that it had entered into a merger with CITIC Capital Acquisition Corp. has agreed, a Chinese blank check firm affiliated with the country’s largest state-owned investment conglomerate. The transaction, which implicitly values Quanergy at $ 1.4 billion, is expected to close in the second half of … Read more
Wejo, the connected vehicle data startup supported by GM and Palantir, plans to go public through a merger with the special purpose venture acquisition company Virtuoso Acquisition Corp. that contains debt. The deal brings Wejo $ 330 million in proceeds, including a cash stake from Virtuoso of $ 230 million and a private investment in … Read more
For this morning’s edition of The Exchange, Alex Wilhelm studied information recently released by mobile gaming studio Jam City as it prepares to go public in a $1.2 billion blank-check deal with DPCM Capital. “Jam City is a bit like Zynga, but unless you are a mobile-gaming aficionado, you might not have heard of it,” … Read more
Inside Rover’s HQ in Seattle. (Rover Photo) Pet adoption rates have surged amid the pandemic, and pet spending accelerated last year. Those are a few of the tailwinds driving optimism at Rover as the Seattle startup prepares to go public via a SPAC deal by the end of next month. Unlike many tech companies, Rover … Read more
The SPAC craze continues unabated, and at times new SPACs are filed with the SEC almost every hour. SoftBank, the Japanese telecommunications conglomerate that also manages the gigantic Vision Fund and its successor, doesn’t want to be left out. Two consecutive SPAC registrations were filed yesterday for two new blank check companies. SVF Investment Corp … Read more