Cloud computing firm DigitalOcean aims for nearly $5 billion valuation in U.S.

Benzinga

‘SPACs Attack’ Weekly Recap: Looking Back On 5 Deals, Rumors And Headline News

It was another busy week for the SPAC market with numerous deal announcements and rumored deals. Benzinga’s “Spacs Attack” covered the deals and news of the week. Here is a look back at the announced deals, rumors and some top headlines. SPAC Deals Last-mile telehealth company Ambulnz is going public in a $1.1 billion deal with Motion Acquisition Corp (NASDAQ: MOTN). Ambulnz will rebrand as DocGo as part of the deal. The company operates with a business-to-business model serving hospital networks, insurance providers, municipalities and large commercial enterprises. Ambulnz provides services such as testing, vaccination, bloodwork, IV/hydration, wound care and mobile imaging. The company operates in 23 states in the US and has operations in the UK. Additional states have been approved or are pending in the company’s expansion plan. The 5G technology company Airspan Networks is going public in a SPAC merger with New Beginnings Acquisition Corp (NYSE: NBA). The deal is expected to help the company in its global 5G network infrastructure buildout. The company is estimating revenue of $245 million in fiscal 2021 and $338 million in fiscal 2022, for year-over-year growth of 47% and 33%, respectively. Evolv Technology provides touchless security that it says identifies weapons and other items more quickly than metal detectors. It is going public in a merger with SPAC NewHold Investment Corp (NASDAQ: NHIC). Evolv is backed by investments from Bill Gates, Motorola Solutions (NYSE: MSI) and others. New investors in the PIPE include a handful of athletes and sports executives such as Peyton Manning, Andre Agassi, Steffi Graf and Joe Torre. A PIPE is a private investment in public equity — a way to attract investment from accredited investors. Evolv has screened over 50 million people, which it says is second only to the Transportation Security Administration in the number of people screened in the U.S. The company lowers the physical footprint and reduces costs of additional security guards at entrances. A new software-as-a-service product could bring growth for Evolv. The company is also exploring options to grow through biometrics, health screening and ticketing. Quantum computing company IonQ is going public in a SPAC merger with dMY Technology Group III (NYSE: DMYI). IonQ is backed by investments from Fidelity, Hyundai, Kia Corporation, Google Ventures (NASDAQ: GOOG)(NASDAQ: GOOGL), Amazon.com (NASDAQ: AMZN), Lockheed Martin (NYSE: LMT), HP Inc (NYSE: HPQ), Airbus and Samsung. IonQ is seeking to build quantum computers that address some of the world’s biggest problems through solutions such as sustainable living, curing diseases and efficiently moving people and goods. The company sees revenue ramping up in fiscal 2025 to an estimated $237 million. Revenue is forecast to grow at a compounded annual growth rate of 150% from fiscal 2021 to fiscal 2025. Auto parts maker Holley is going public with SPAC Empower (NYSE: EMPW). The company is estimating revenue of $624 million in fiscal 2021 and $665 in fiscal 2022. Holley is known for its carburetors and other automotive performance parts. Related Link: SPACs Attack Weekly Recap: Looking Back On 9 Deal Announcements, Rumors And Headlines News SPAC Rumors BuzzFeed may be in talks to go public with 890 5th Avenue Partners (NASDAQ: ENFA). Shares of the SPAC popped on the rumor, but are now trading under $10. BuzzFeed has been a rumored SPAC target before. Velo3D, a 3D printing company that counts SpaceX as a customer, is in talks to go public with Jaws Spitfire Acquisition Corp (NSYE: SPFR). Velo3D sells printers and licenses design software. SpaceX uses 3D printing for engines and other components. Other aerospace companies are among the customers that use Velo3D printers. Grab Holdings, a large ride-share and food delivery company in Asia, is in talks to go public via a SPAC, reports…