Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Blank Check IPOs (SPACS) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (3138)	1/20/2021 8:20:20 PM
From: Glenn Petersen	Respond to of 3862

Another rumored deal. FTAC Olympus Acquisition Corp. (stock symbol: FTOC), a SPAC that raised $750 million when it went public in August 2020, is reported to be in talks to merge with Payoneer, a payments startup that facilitates cross border payments. FTOC was up $3.25 today, closing at $3.25. It was up another $.43 in after hours trading. Payments Startup Payoneer in Merger Talks With SPAC By Gillian Tan and Yaacov Benmeleh Bloomberg January 20, 2021, 3:11 PM EST Updated on January 20, 2021, 3:34 PM EST Payoneer Inc., an online payments specialist, is in talks to go public through a merger with FTAC Olympus Acquisition Corp., a blank-check firm, according to people with knowledge of the matter. FTAC rose as much as 29% on the news. The special purpose acquisition company has begun talks to raise new equity to support a transaction that’s slated to value the combined entity at more than $2.5 billion, said one of the people, who asked to not be identified because the matter isn’t public. As a deal isn’t finalized, it’s possible terms change or talks fall apart. Representatives for New York-based Payoneer and FTAC declined to comment. FTAC was up 28% to $13.45 at 3:33 p.m. in New York, giving the company a market value of about $1.3 billion. Founded in 2005, Payoneer -- which has said it’s profitable -- is backed by investors including Wellington Management Co., TCV, Greylock Partners, Ping An and Viola Ventures. The company, founded in Israel by Yuval Tal and now led by Chief Executive Officer Scott Galit, operates in more than 200 countries and territories. It provides services including cross-border payments for customers including Airbnb Inc., Amazon.com Inc., Google and Walmart Inc. its website shows. FTAC, led by Chairman Betsy Cohen and Chief Executive Officer Ryan Gilbert, raised roughly $755 million in an August initial public offering for the purpose of acquiring or merging with a technology or financial services technology-focused company. Read More: SoFi Plans for More Mergers After Going Public Through SPAC Cohen is also chairman of blank-check firms FinTech Acquisition Corp. IV, which last month agreed to combine with Perella Weinberg Partners, and FinTech Acquisition Corp. V. She’s also chairman of FTAC Athena Acquisition Corp. which this week filed paperwork ahead of a targeted $220 million IPO and was the chairman of FinTech Acquisition Corp. III when it merged with payments company Paya Holdings Inc. — With assistance by Crystal Tse, and Ivan Levingston (Updates share price in fourth paragraph) Story Link

To: Glenn Petersen who wrote (3138)	2/1/2021 5:19:01 PM
From: Triffin	1 Recommendation Recommended By sixty2nds Read Replies (2) \| Respond to of 3862

FST .. Golden Nugget/Landry's deal announcement Tilman Fertitta Takes Golden Nugget and Landry's Public In $6.6 Billion SPAC Merger Billion investor Tilman Fertitta will return his Golden Nugget casino and Landry's restaurant chain businesses back to the public markets in a $6.6 billion deal with Fast Acquisition Corp. MARTIN BACCARDAXUPDATED:FEB 1, 2021 10:16 AM ESTORIGINAL:FEB 1, 2021 Billionaire investor Tilman Fertitta, owner of the Houston Rockets basketball team, said Monday that he will take both the Golden Nugget Casino and the Landry's restaurant chain public in a $6.6 billion deal with a so-called special acquisition company. FAST Acquisition Corp. ( FST) , said it will merge with Fertitta Entertainment in a deal that gives Fertitta a 60% controlling interest in the group, for which he will remain chairman, president and chief executive officer, that will be valued at $6.6 billion. The Houston Rockets, purchased by Fertitta for $2.2 billion in 2017, were not part of the FAST Acquisition merger. "I look forward to returning my Company to the public marketplace. After taking the Company private in 2010, we accomplished a lot. However, in today's opportunistic world, I determined that in order to maximize the opportunities in the gaming, entertainment and hospitality sectors, it was preferable to take my Company public" Fertitta said. "After I compared the opportunities provided by a transaction with FAST, versus the traditional IPO route, it became abundantly clear that we could access the capital markets with more certainty and speed if we did a deal with FAST," he added. "Working with Doug (Jacob) and Sandy (Beall) has been a pleasure, and I truly appreciate their time and contribution to this process. At the end of the day, the decision to do a deal with FAST was a no-brainer." Fast Acquisition shares were marked 31.1% higher in pre-market trading to indicate an opening bell price of $13.90 each. Special acquisition companies, better known as SPACs, have dominated the IPO market this year, completing some $26 billion in share sales last month. From previous deals completed last year, around 90 new companies have started trading in 2021, with scores more of the so-called 'blank check' entities having already filed for public listings. Triff ..