Over a year ago, Virgin Galactic propelled SPACs to all-star status. Now, newer SPACs attempt to one-up $SPCE.
Planet Labs struck a deal today with dMY Technology Group IV, valuing the satellite network at $2.8B. The announcement comes just after Cantor Fitzgerald’s CF Acquisition Corp picked up another satellite company for $1.1B.
$DMYQ and $CFV are the latest SPACs enticing space-related mergers— they’re following in $VACQ’s, $SRAC’s, and others’ footsteps.
The space-SPAC thing has been a trend all year. In January, Astra Space announced its agreement with the Holicity SPAC after ARK Invest filed for its $ARKX Space Exploration Fund. When $HOL rolled into $ASTR last week, it blasted 34%.
The upshot? SPACs know about investors’ love of outer space. Keep an eye out for star-bound SPACs and stocks.