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GigCapital4

GigCapital7 Corp is a Private-to-Public Equity (PPE) company, also known as a blank check company or special purpose acquisition company.

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GigOptix, Inc.

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The month of December shows an increasing number of SPAC deal votes.

SPAC merger votes can act as a catalyst, as the votes complete the last step in the merger process and change the company over to a new name and ticker that can help build recognition.

December SPAC Merger Calendar: Upcoming Votes, Stocks To Watch

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Sony Group Corporation American Depositary Shares

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Last week featured six announced SPAC deals and featured earnings from several well-known former SPACs. Here is a look back at the week that was SPACs for deals, rumors and headline news all covered on Benzinga’s “SPACs Attack.”

SPACs Attack Recap: PSTH Among 4 SPAC Deals, One New Rumor And Headline News

Penny Stocks

DCRN

GHVI

IPOE

LEGO

LOTZ

LWAC

PACX

PYPL

Lordstown Motors Corp. - Class A Common Stock

RIDE

SPCE

Last week featured six announced SPAC deals. The week also had earnings from several well-known former SPACs.

Here&#39;s a look back at the week that was SPACs for deals, rumors and headline news all covered on Benzinga’s “SPACs Attack.”

SPAC Deals

SPACs Attack Recap: 6 SPAC Deals, SPAC Rumors And Headline News From Last Week

GigCapital7 Corp. - Class A Ordinary Share

GigCapital7 Corp

Krios

Giga-Tronics Inc Ordinary Shares

Giga-Tronics Inc

Goldman Sachs Access Investment Grade Corporate Bond ETF

Giga Metals Corp

GAMING INNOVATION GROUP by Gaming Innovation Group Inc.

Gentoo Media Inc

GigaMedia Ltd

GENTING SINGAPORE LTD by Genting Singapore Limited

Genting Singapore Ltd

GENTING SINGAPRE UNSP/ADR by Genting Singapore Limited

GIGA PRIZE CO LTD TOKYO by GIGA PRIZE CO LTD, TOKYO

Giga Prize Co Ltd

The month of December shows an increasing number of SPAC deal votes.
SPAC merger votes can act as a catalyst, as the votes complete the last step in the merger process and change the company over to a new name and ticker that can help build recognition.
Several former SPACs also saw wide swings in their share price after being de-SPAC-ed if they receive heavy redemption and have a low float for shares available.
December SPAC Merger Calendar:
Dec. 1: Aldel Financial Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/adf#NYSE">ADF</a>) and Hagerty: Auto insurance company Hagerty specializes in providing insurance for classic cars and vehicles.
Dec. 2: 890 5th Avenue Partners (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/enfa#NASDAQ">ENFA</a>) and BuzzFeed: Media company BuzzFeed <a href="https://www.benzinga.com/m-a/21/06/21710249/buzzfeed-going-public-via-spac-merger-what-investors-should-know">owns </a>brands that include its namesake brand, Complex and Huffington Post. The company generates over 800 million monthly minutes from visitors and holds the number one market share for time spent on digital media properties by Gen Z and Millenials.
Dec. 3: GigCapital4 Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gig#NASDAQ">GIG</a>) and Big Bear: End-to-end data analytics company BigBear.ai <a href="https://www.benzinga.com/m-a/21/06/21441586/spacs-attack-recap-psth-among-4-spac-deals-one-new-rumor-and-headline-news">provides </a>data for sectors like national security, defense and the commercial sector. The company uses artificial intelligence and machine learnings at scale to provide decision support. Palantir Technologies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pltr#NYSE">PLTR</a>) has a <a href="https://www.businesswire.com/news/home/20211115005507/en/BigBear.ai-And-Palantir-Announce-Strategic-Partnership-Combining-AI-powered-Products-With-Next-Generation-Operating-Platform">partnership </a>with BigBear.ai.
Dec. 3: dMY Technology Group IV (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dmyq#NYSE">DMYQ</a>) and Planet: Satellite company Planet is the <a href="https://www.benzinga.com/m-a/21/07/21878063/planet-is-going-public-via-spac-what-investors-should-know-about-this-earth-data-and-analytics-compa">largest </a>Earth imaging satellite company in the world. The company has over 200 satellites that produce over 25 terabytes of data every day. Using a Bloomberg-like terminal for Earth data, Planet can offer a &ldquo;scalable data-as-a-service subscription business.&rdquo; The company is backed by several prominent companies including Alphabet Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>)(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>). dMY Technology CEO Niccolo de Masi <a href="https://www.youtube.com/watch?v=9V3WDJae7Dc&amp;t=1002s">said</a>, &ldquo;Planet is on the path to becoming one of the most consequential companies in a generation.&rdquo;
Dec. 3: Foresight Acquisition (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fore#NASDAQ">FORE</a>) and P3 Health Partners: Patient-centered and physician-led population health management company P3 Health Partners <a href="https://www.globenewswire.com/en/news-release/2021/05/25/2235947/0/en/P3-Health-Partners-to-Become-Publicly-Traded-via-Merger-with-Foresight-Acquisition-Corp.html">specializes </a>in the Medicare Advantage Market. The company operates in 11 markets in four states with plans to add three to five market annually.
Dec. 6: CBRE Acquisition Holdings (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cbah#NYSE">CBAH</a>) and Altus Power: Clean energy company Altus Power <a href="https://www.benzinga.com/m-a/21/07/21957312/solar-power-company-altus-power-lands-spac-deal-with-cbre-group-what-investors-should-know">has </a>operations across the country from Vermont to Hawaii. The company has 410 megawatts of solar power in its portfolio and a pipeline of over 900 megawatts of solar power. A SPAC from CBRE Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cbre#NYSE">CBRE</a>) is taking the company public, which Altus hopes will lead to cross-selling opportunities. CBRE is the world&rsquo;s largest commercial real estate services company serving 90 of the Fortune 100 companies.
Dec. 7: Dragoneer Growth Opportunities Corp II (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dgns#NASDAQ">DGNS</a>) and Cvent: Event management company Cvent is returning to the public market with a SPAC deal that includes a PIPE investment from Zoom Video Communications Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zm#NASDAQ">ZM</a>). Cvent counts 51% of Fortune 500 customers as clients and has over 23,000 customers. The company has shifted its business model during the pandemic to virtual and hybrid events, which helped revenue from significantly falling and helped them gain over 900 new customers.
Dec. 7: Decarbonization Plus Acquisition Corp III (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dcrc#NASDAQ">DCRC</a>) and Solid Power: Solid-state battery maker Solid Power is <a href="https://www.benzinga.com/m-a/21/06/21567971/solid-state-battery-company-solid-power-lands-spac-deal-what-investors-should-know">backed </a>by Ford Motor Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>), BMW, Samsung and Hyundai. The company said its solid-state batteries have a range of up to 500 miles and provide cheaper costs to lithium based batteries.
Dec. 7: Pathfinder Acquisition Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pfdr#NASDAQ">PFDR</a>) and ServiceMax: Backed by General Electric (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ge#NYSE">GE</a>), Salesforce.com Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crm#NYSE">CRM</a>) and Silver Lake, ServiceMax <a href="https://www.youtube.com/watch?v=Xt037w1JtbM">offers </a>field service management.
Dec. 7: Seven Oaks Acquisition Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/svok#NASDAQ">SVOK</a>) and Boxed: Ecommerce wholesaler and enabler Boxed is <a href="https://www.benzinga.com/news/small-cap/21/07/21881248/exclusive-boxed-ceo-chieh-huang-talks-e-commerce-orders-growth-on-spacs-attack">going public</a> in a SPAC deal. The company offers bulk consumables to businesses and consumers. Boxed also offers technology licensed to enterprise retailers, which is a growing industry for the company.
Dec. 7: CF Acquisition Corp V (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cfv#NASDAQ">CFV</a>) and Satellogic: Satellite company Satellogic <a href="https://www.benzinga.com/m-a/21/07/21856412/satellogic-plans-to-have-most-inexpensive-satellite-resolution-imagery-what-investors-should-know-ab">has </a>17 commercial satellistes in orbit and a vertically integrated platform. The company plans on scaling and having cost advantages over competitors and a goal of 300 satellites in orbit by 2025. Satellogic has a multiple-launch agreement with SpaceX to help get to its orbit goal.
Dec. 13: Yucaipa Acquisition Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yac#NYSE">YAC</a>) and SIGNA Sports: Ecommerce company SIGNA Sports <a href="https://www.benzinga.com/m-a/21/06/21521910/sports-e-commerce-company-signa-sports-united-going-public-via-spac-what-investors-should-know">operates </a>in the main categories of bike, tennis, outdoor sports and team sports. The company serves over 7 million active customers, has over 1,000 brand partners, 500+ connected retail stores and a global user base of over 15 million combined customers.
Dec. 14: Broadstone Acquisition Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bsn#NYSE">BSN</a>) and Vertical Aerospace: Electric vertical takeoff and landing aircraft maker Vertical Aerospace is one of several in the industry to go public via SPAC merger. The company <a href="https://www.youtube.com/watch?v=ImdWlYHwzjw">counts </a>American Airlines Group (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aal#NASDAQ">AAL</a>), Honeywell International Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hon#NYSE">HON</a>), Rolls-Royce and Microsoft Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) as investors. A passenger jet is planned by 2024 from the company.
Dec. 14: Isos Acquisition Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/isos#NYSE">ISOS</a>) and Bowlero: With 321 centers in North America, Bowlero is the <a href="https://www.benzinga.com/m-a/21/07/21809071/bowlero-lands-spac-deal-reopening-media-and-sports-betting-could-add-upside">market leader</a> in the highly fragmented bowling center industry. The company operates in the U.S., Mexico and Canada with brands that include Bowlmor Lanes, Bowlero and AMF. The company also owns the Professional Bowler&rsquo;s Association league, which had 23 million viewers in 2020 and has a media deal with Fox Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fox#NASDAQ">FOX</a>).
Related Link: <a href="https://www.benzinga.com/m-a/21/11/23804557/november-spac-merger-calendar-upcoming-votes-earnings-stocks-to-watch">November SPAC Merger Calendar: Upcoming Votes, Earnings, Stocks To Watch</a>
Dec. 15: Investindustrial Acquisition Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iiac#NYSE">IIAC</a>) and Ermenegildo Zegna Group: Since 1910, Ermenegildo Zegna Group has operated in the textiles and menswear sectors. The company has grown and expanded into new verticals through mergers and acquisitions. The company has a presence in 80 countries and has nearly 300 operated stores.
Dec. 16: CM Life Sciences III Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cmlt#NASDAQ">CMLT</a>) and EQRx: Pharmaceutical company EQRx is <a href="https://www.benzinga.com/general/biotech/21/08/22377494/corvex-casdin-backed-spac-to-merge-with-eqrx-in-1-8b-deal">seeking </a>to lower to cost of drugs. The company has a pipeline of over 10 programs.
Dec. 21: HealthCor Catalio Acquisition Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hcaq#NASDAQ">HCAQ</a>) with Liminal and Hyperfine: A three way <a href="https://www.benzinga.com/m-a/21/07/21898048/portable-mri-device-maker-hyperfine-going-public-via-spac-what-investors-should-know">merger </a>will see Hyperfine and Liminal go public. Hyperfine is the creator of a portable MRI system named Swoop. Liminal Sciences is dedicate to non-invasive brain monitoring.
Dec. 22: Sports Entertainment Acquisition Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/seah#NYSE">SEAH</a>) and Super Group: Global sports betting and online casino company Super Group is <a href="https://www.benzinga.com/m-a/21/04/20783357/sports-betting-and-casino-company-super-group-lands-spac-deal-what-investors-should-know">licensed </a>in 23 jurisdictions across Europe, the Americas and Africa. The company had over $42 billion worth of wagers in the 12-month period ending March 2021 and over 2.5 million monthly unique active customers in the same time period. The company plans on growing in the U.S. with access to 10 states and a growing number of partnerships signed with professional sports teams.
Dec. 23: FS Development Corp II (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fsii#NASDAQ">FSII</a>) and Pardes Biosciences: Biopharmaceutical company Pardes counts Gilead Sciences (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gild#NASDAQ">GILD</a>) as an <a href="https://www.benzinga.com/general/biotech/21/06/21770385/gilead-foresite-take-pardes-biosciences-public-in-250m-spac-deal">investor</a>. The company has planned trials for COVID-19 and future development of antivirals for future pandemics.
Dec. 23: Roman DBDR Tech (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dbdr#NASDAQ">DBDR</a>) and CompoSecure: Financial payment cards provider CompoSecure also <a href="https://www.benzinga.com/markets/cryptocurrency/21/05/21065118/exclusive-composecure-ceo-talks-metal-payment-cards-cryptocurrency-storage-with-benzinga">offers </a>cryptocurrency storage and security solutions. The company has been around for over 20 years and will deliver over 22 million metal cards to the market in 2021. Company clients include JPMorgan Chase (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>), American Express Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/axp#NYSE">AXP</a>) and Capital One Financial Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cof#NYSE">COF</a>).
Dec. 28: Athena Technology Acquisition Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/athn#NYSE">ATHN</a>) and Heliogen: Bill Gates backed solar company Heliogen is <a href="https://www.benzinga.com/m-a/21/07/21882784/bill-gates-backed-solar-company-heliogen-lands-spac-deal-what-investors-should-know">going public </a>via SPAC merger. Operating with a closed loop, artificial intelligence-enabled technology, Heliogen is working on commercialization efforts with customers in the industrial, mining and energy sectors. Partners include Rio Tinto (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rio#NYSE">RIO</a>) and ArcelorMittal (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mt#NYSE">MT</a>), who is also an investor in the company.
Disclosure: Author is long shares GIG, SEAH, DMYQ and DGNS

Expected Closing Date of December 7, 2021
Combined Company Expected to Begin Trading on NYSE Under Ticker Symbols &ldquo;BBAI&rdquo; and &ldquo;BBAI.WS,&rdquo; Respectively, on December 8, 2021
GigCapital4, Inc. ((&amp;ldquo, GigCapital4&amp;rdquo, , NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIGGU#NASDAQ">GIGGU</a>, GIG, GIGGW)), a private-to-public equity (PPE)TM entity also known as a special purpose acquisition company (&ldquo;SPAC&rdquo;), and BigBear.ai (&ldquo;the Company&rdquo;), a leading provider of artificial intelligence (&quot;AI&quot;), machine learning, cloud-based big data analytics, and cyber engineering solutions, today announced that at the Special Meeting of GigCapital4&#39;s stockholders (the &ldquo;Special Meeting&rdquo;) held today, GigCapital4&rsquo;s shareholders voted to approve the previously announced proposed business combination between GigCapital4 and BigBear.ai, as well as all other proposals related to the Business Combination.
GigCapital4 plans to file the results of the Special Meeting, as tabulated by an independent inspector of elections, on Form 8-K with the Securities and Exchange Commission today.
Based on today&rsquo;s shareholder approval and subject to the satisfaction or waiver of certain other closing conditions as described in GigCapital4&rsquo;s definitive proxy statement/prospectus, the Business Combination is expected to be consummated on or about December 7, 2021. Following the consummation of the Business Combination, the combined company will operate as BigBear.ai Holdings, Inc. and its shares of common stock and warrants are expected to trade on the New York Stock Exchange beginning on December 8, 2021 under the symbols &ldquo;BBAI&rdquo; and &ldquo;BBAI.WS,&rdquo; respectively.

GIGGU

GigCapital4 And BigBear.ai Announce Shareholder Approval Of Business Combination

<ul>
<li>BigBear.ai&rsquo;s pro forma enterprise valuation adjusted from $1.565 billion to $1.378 billion to reflect current market conditions and establish more attractive entry point to market, which translates to a 15% reduction in equity value for BigBear.ai stockholders to $1.05 billion </li>
<li>BigBear.ai believes that its recent strategic momentum and robust backlog support attractive value opportunities for stockholders</li>
<li>GigCapital4 reminds its stockholders to vote or submit their proxy in support of the Board of Directors&rsquo; recommendations at the special stockholders meeting that will take place on Friday December 3, 1:00 p.m. EST / 10:00 a.m. PST&nbsp; </li>
<li>The Boards of Directors of both GigCapital4 and BigBear.ai reaffirm their recommendation of the combination, which is expected to close on December 7, 2021, subject to approval by the security holders of GigCapital4 and the satisfaction of customary closing conditions</li>
</ul>

BigBear.ai And GigCapital4 Enter Into $75M Backstop Agreement With AE Industrial Partners

Northland Capital Markets analyst Michael Latimore initiates coverage on GigCapital4 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIG#NASDAQ">GIG</a>) with a Outperform rating and announces Price Target of $13.

Price Target

Initiation

Analyst Ratings

Northland Capital Markets Initiates Coverage On GigCapital4 with Outperform Rating, Announces Price Target of $13

GigCapital4, Inc. ((&amp;ldquo, GigCapital4&amp;rdquo, , NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIGGU#NASDAQ">GIGGU</a>, GIG, GIGGW)), a private-to-public equity (PPE)&trade; entity also known as special purpose acquisition company (&ldquo;SPAC&rdquo;), announced today that it has filed on November 5 its definitive proxy statement/prospectus with the U.S. Securities and Exchange Commission (&quot;SEC&quot;) in connection with GigCapital4&rsquo;s Special Meeting of Stockholders relating to the previously announced business combination (the &ldquo;Business Combination&rdquo;) with BigBear.ai, a leading provider of artificial intelligence (&ldquo;AI&rdquo;), machine learning, cloud-based big data analytics, and cyber engineering solutions.
The Special Meeting of GigCapital4&#39;s stockholders will be held at 1 p.m. Eastern Time/10 a.m. Pacific Time on December 3, 2021 in connection with the Business Combination. The proxy statement/prospectus is being mailed to the Company&#39;s stockholders of record as of the close of business on October 5, 2021 (the &quot;Record Date&quot;).
Upon closing of the transaction, the combined company will be named BigBear.ai, Inc. and its shares of common stock and warrants are expected to trade on the New York Stock Exchange under the symbols &quot;BBAI&quot; and &ldquo;BBAIW,&rdquo; respectively.
BigBear.ai&rsquo;s suite of AI-powered technology transforms complex, raw data into knowledge to optimize human decision making. Its end-to-end software and technology operationalizes artificial intelligence and machine learning (&ldquo;AI/ML&rdquo;) at scale, and integrates easily into public and private sector customers&rsquo; existing technology.
Dr. Raluca Dinu, Founding Managing Partner of GigCapital Global and CEO of GigCapital4, said, &ldquo;BigBear.ai provides a unique platform of advanced AI and machine learning capabilities at a critical period of growth in the AI/ML market. With a strong financial position, deep network of relationships and talented management team, BigBear.ai is well positioned to capitalize on opportunities in the commercial and defense sectors. We look forward to continuing our collaboration with BigBear.ai on the path to completing the business combination.&rdquo;
Dr. Reggie Brothers, Chief Executive Officer of BigBear.ai, said, &ldquo;We are pleased to reach this milestone and take the next step on the path toward becoming a public company. This transaction will allow us to accelerate our growth plans and leverage the massive opportunity in the fast-growing AI/ML addressable market. Across the public and commercial sectors, organizations are overwhelmed by an immense volume of data, and that data is accumulating at an accelerated pace. BigBear.ai operationalizes AI to cut through the noise and help customers get to a better outcome. With over 20 years of experience using data analytics to help our customers improve their competitive positioning by making better and faster decisions, we are excited to expand our capabilities and bring our expertise to more customers across the public and commercial markets.&rdquo;
Jeffrey Hart, Principal at AE Industrial Partners, said, &ldquo;BigBear.ai has been trusted by its diverse base of government and defense customers to support mission-critical decision making for years, and the company is now positioned to bring that expertise to an expanding market of commercial and state and local government customers. This transaction provides the resources to make this vision a reality by funding investments in sales and marketing, R&amp;D and targeted M&amp;A.&rdquo;
Kirk Konert, Partner at AE Industrial Partners, said, &ldquo;AE Industrial is proud to have supported BigBear.ai&rsquo;s journey to become a leading AI public company since its founding and looks forward to being part of its continued success. As the major shareholder, AE Industrial is excited about the growth and long-term stability of this company. I am also thrilled to continue to serve as a board member of the company and help leverage AE&rsquo;s strategic expertise to further BigBear.ai&rsquo;s future success.&rdquo;
As previously announced, the transaction values BigBear.ai at a pro forma enterprise value of approximately $1.57 billion, implying an EV / FY2022E multiple of 5.6x. Assuming no redemptions by GigCapital4 public stockholders, the Company is expected to have approximately $330 million in cash upon closing of the transaction, providing the capital flexibility needed to support organic and inorganic growth. The cash component of the purchase price to be paid to the equity holders of BigBear.ai is expected to be funded by GigCapital4&#39;s cash in trust (minus any redemptions by public stockholders), and a $200 million convertible senior unsecured note private placement with institutional investors including Fortress, Marathon, and Highbridge. The 5-year unsecured convertible notes, which shall bear interest at a rate of 6% per annum, are convertible into common shares of the combined company at a conversion price of $11.50.

GigCapital4 Announces Filing Of Definitive Proxy Statement And Special Meeting Date In Connection With Proposed Business Combination With BigBear.ai

BigBear.ai Reports First Half Sales Results Of ~$72M

Last week featured six announced SPAC deals and featured earnings from several well-known former SPACs. Here is a look back at the week that was SPACs for deals, rumors and headline news all covered on Benzinga&rsquo;s &ldquo;<a href="https://www.youtube.com/playlist?list=PL4k0fH8EgI3Z9twaah9Sz_PQQ7VC19X_Y">SPACs Attack.</a>&rdquo;
SPAC Deals:&nbsp;Connected vehicle data company Wejo announced a SPAC deal with Virtuoso Acquisition Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/voso#NASDAQ">VOSO</a>) valuing the company at&nbsp; $800 million. Wejo provides data for customers and automotive manufacturers, including the ways people live, work and travel. Palantir Technologies Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pltr#NYSE">PLTR</a>) and General Motors Company&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>) are investors.
Areas of expansion for Wejo include traffic management, advertising, fleet management, SaaS solutions, car sharing and rental, payments and roadside assistance. The company works with 17 OEMs and Tier 1 automotive companies.
Wejo is estimating revenue of $4.3 million in fiscal 2021 and $23 million in fiscal 2022.
Alkuri Global Acquisition Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kuri#NASDAQ">KURI</a>) <a href="https://www.prnewswire.com/news-releases/babylon-a-world-leading-digital-first-value-based-care-company-announces-plans-to-become-a-public-company-via-4-2-billion-merger-with-alkuri-global-acquisition-corp-301305279.html">announced </a>a SPAC merger with digital healthcare company Babylon Health. The deal values the company at a pro forma equity value of $4.2 billion. Babylon covers more than&nbsp;24 million people across four continents.
Among the investors in Babylon Health is Palantir.
The company is seeking to &ldquo;re-engineer the $10 trillion global healthcare market to better align systemwide incentives and shift the focus from reactive sick care to preventative healthcare.&rdquo; The result from Babylon will be reduced costs and better health care for its members.
The company offers Babylon 360, a digital-first care service and Babylon Cloud Services, a self-care tool for patients and clinicians.
Babylon Health has projected revenue of $321 million in fiscal 2021, which would be a 305% year-over-year increase.
The long wait is over to see what company Bill Ackman will acquire with the Pershing Square Tontine Holdings Ltd&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/psth#NYSE">PSTH</a>) SPAC.
Ackman <a href="https://www.benzinga.com/m-a/21/06/21429882/bill-ackman-spac-announces-universal-music-deal-could-investors-see-a-1-hit">confirmed </a>the company is in the process of acquiring a 10% stake in Universal Music Group, currently owned by Vivendi SE (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vivhy#OTC">VIVHY</a>) and Tencent Holdings ADR (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcehy#OTC">TCEHY</a>).
The deal would value Universal Music Group at $42 billion, including UMG being spun-off and publicly listed in Europe. PSTH shareholders will own stakes in three separately traded securities after the completion of the transaction, a pro-rata share of UMG, a pro-rata share of PSTH and one five-year right per share (a SPAR) of Pershing Square SPARC Holdings.
Goldman Sachs valued Universal Music Group at $53 billion earlier this year.
Universal is the largest music company in the world with rights to artists including Lady Gaga, Taylor Swift, Billie Eilish, The Weeknd, Queen, The Beatles and Bob Dylan.
Universal had some of the most played artists on Spotify Technology SA&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spot#NYSE">SPOT</a>) in the last year and the first quarter of 2021.
Universal Music group competes with Tencent Music Entertainment Group - ADR&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tme#NYSE">TME</a>),&nbsp;Sony Music, a unit of Sony Group Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sony#NYSE">SONY</a>) and Warner Music Group Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wmg#NASDAQ">WMG</a>).
UMG had revenue of $9.0 billion in the last fiscal year, up 4.7% year-over-year.
End-to-end data analytics company BigBear.ai <a href="https://www.businesswire.com/news/home/20210604005419/en/BigBear.ai-to-Become-Publicly-Traded-Company-via-Merger-With-GigCapital4">announced </a>a SPAC merger with GigCapital4 Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gig#NASDAQ">GIG</a>), valuing the company at a pro forma enterprise value of $1.57 billion.
BigBear.ai provides data analytics for sectors that include the national security and defense community and the commercial sector. The company uses artificial intelligence and machine learning at scale to provide decision support for its customers.
BigBear.ai sees the global AI/ML market growing from $58 billion in 2021 to $310 billion by 2026.
The company is projecting a 2021 revenue of $182 million. BigBear.ai sees revenue growing at a compounded annual growth rate of 43% from 2021 to 2025, supported by a backlog of $500 million.
Related Link:<a href="https://www.benzinga.com/fintech/21/06/21393922/june-spac-merger-vote-calendar-a-look-at-upcoming-votes-and-stocks-to-watch?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+benzinga%2Fnews+%28Channels+-+News%29"> June SPAC Merger Vote Calendar: A Look At Upcoming Votes And Stocks To Watch</a>
SPAC Rumors:&nbsp;According to a report from TechCrunch, autonomous vehicle company Aurora is in talks to go public with Reinvent Technology Partners Y (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rtpy#NASDAQ">RTPY</a>). The deal could value the company at a range of $12 billion to $20 billion and be announced in the coming weeks.
Reid Hoffman, who is a leader of the Reinvent SPACs, was previously an investor in the company.
Other Aurora investors include Amazon.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>), T. Rowe Price and Shell Ventures.
Aurora <a href="https://www.benzinga.com/m-a/20/12/18687551/uber-to-offload-self-driving-unit-to-amazon-backed-startup-aurora?utm_source=dlvr.it&amp;utm_medium=facebook">acquired </a>the self-driving unit of Uber Technologies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uber#NYSE">UBER</a>) valuing the combined company at $10 billion. As part of the deal, Uber owns 26% of Aurora.
A partnership was signed by Aurora with Volvo Trucks for autonomous semi-truck development in North America earlier this year.
Headline News:&nbsp;Skillz Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sklz#NYSE">SKLZ</a>) announced an <a href="https://www.benzinga.com/m-a/21/06/21386181/skillz-to-acquire-advertising-platform-aarki-for-150m-to-expand-mobile-gaming-footprint">acquisition </a>of Akari to form an integrated eSports advertising platform. Akari reaches 465 million monthly users and could help Skillz expand its reach to target new customers. Akari uses data and machine learning algorithms to help advertisers with industry-leading return on investment.
Joby Aviation, which is going public with Reinvent Technology Partners (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rtp#NYSE">RTP</a>) announced a partnership with REEF Technology and Neighborhood Property Group.
The partnership includes the development of takeoff and landing sites for Joby&rsquo;s aerial ridesharing service set to launch in 2024.
REEF is the country&rsquo;s largest parking garage operator and could provide more than 5,000 sites in North America and Europe for Joby Aviation. The initial focus will be on key areas in Los Angeles, Miami, New York and San Francisco.
Topps issued first-quarter financial figures and an <a href="https://www.benzinga.com/markets/cryptocurrency/21/06/21394779/topps-spac-falls-on-rival-launch-amc-movement-why-muds-shares-are-rebounding-wednesday">update </a>on its relationship with Major League Baseball after shares of its SPAC <a href="https://www.benzinga.com/markets/cryptocurrency/21/04/20499853/trading-card-company-topps-announces-spac-deal-continued-nft-expansion">acquirer </a>Mudrick Capital Acquisition CorporationII (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/muds#NASDAQ">MUDS</a>) fell.
Topps reported first-quarter sales of $166.6 million, a year-over-year increase of 55%. The company said it has a licensing partnership with Topps to offer physical and digital products and the two will continue to release NFT trading card products.
Shares traded down earlier in the week on news of a new MLB NFT partnership with Candy Digital, a <a href="https://www.benzinga.com/markets/cryptocurrency/21/06/21367519/fanatics-michael-novogratz-gary-vee-team-on-nft-platform-lou-gehrig-speech-up-first">new platform </a>from Fanatics, Michael Novogratz and Gary Vee.
The Original Bark Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bark#NYSE">BARK</a>) started trading under its new name and ticker. The company saw shares trade down Monday on a warning issued by the company after ties to a dog dying that the owners linked to a Barkbox product.
Mergers were approved for SPACs Bespoke Capital Acquisition Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bspe#NASDAQ">BSPE</a>) with Vintage Wine Estates, Jaws Mustang&nbsp;Acquisition Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jwsm#NYSE">JWSM</a>) with Cano Health and TS Innovation Acquisitions Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsia#NASDAQ">TSIA</a>) with Latch.
Chamath Palihapitiya <a href="https://www.benzinga.com/general/biotech/21/06/21401280/chamath-palihapitiya-launches-4-new-biotech-spacs-what-investors-should-know">filed for four new SPACs</a>, this time targeting the biotech sector with partner Suvretta. Each SPAC is seeking to raise $200 million and contains no warrants.
The filings suggest targeting companies that can improve the quality of life including treatment options for the central nervous system, neurodegenerative diseases, psychiatric diseases and addiction.
The four SPACs are Social Capital Suvretta Holdings Corp (NASDAQ: DNAA), Social Capital Suvretta Holdings Corp II (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dnab#NASDAQ">DNAB</a>), Social Capital Suvretta Holdings Corp III (NASDAQ: DNAC) and Social Capital Suvretta Holdings Corp IV (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dnad#NASDAQ">DNAD</a>).
Be sure to tune into &quot;SPACs Attack,&quot; Monday through Friday, 11 a.m. EST. Here are the links to the past week&rsquo;s shows.
Tuesday: <a href="https://www.youtube.com/watch?v=uTamV3wiKW4">Best Mexican Company SPAC? $BWMX</a> 
Wednesday: <a href="https://www.youtube.com/watch?v=jxO0xI8eB-I&amp;t=13s">Leading Fintech SPAC</a> 
&nbsp;

Movers

GigCapital4 Shares Resume Trading, Spike Higher

<ul>
<li>BigBear.ai is a leader in data-driven decision dominance and advanced analytics with roots in the national security and defense community; rapidly expanding into the growing commercial sector</li>
<li>Provides end-to-end data analytics platform operationalizing artificial intelligence (&quot;AI&quot;) and machine learning (&quot;ML&quot;) at scale, delivering information superiority and decision support for customers in defense, intelligence, and commercial sectors</li>
<li>Global AI/ML market projected to grow from&nbsp;$58 billion&nbsp;in 2021 to&nbsp;$310 billion&nbsp;by 2026, at&nbsp;40%&nbsp;CAGR</li>
<li>Transaction values BigBear.ai at a pro forma enterprise value of approximately&nbsp;$1.57 billion, implying 5.6x EV / FY2022E revenue multiple</li>
<li>Transaction expected to deliver approximately&nbsp;$330 million&nbsp;in net cash to the BigBear.ai balance sheet at closing</li>
<li>Proceeds will fuel commercial growth projects, expand sales and marketing, and fund research and development to accelerate product offerings and inorganic growth through accretive M&amp;A</li>
<li>Projected 2021 revenue of&nbsp;$182 million&nbsp;and&nbsp;43%&nbsp;2021E &ndash; 2025E revenue CAGR, with positive and growing Adj. EBITDA and cash flow</li>
<li>Robust backlog of approximately&nbsp;$500 million&nbsp;contracted and near-term opportunities providing substantial growth visibility</li>
<li>Transaction includes&nbsp;$200 million&nbsp;oversubscribed convertible senior unsecured debt offering, convertible at&nbsp;$11.50/share, which includes investments by funds managed by affiliates of Fortress Investment Group, LLC (&quot;Fortress&quot;), Marathon Asset Management, LP (&quot;Marathon&quot;), and certain funds managed by Highbridge Capital Management, LLC (&quot;Highbridge&quot;)</li>
<li>Investor call scheduled for Tuesday, June 8, 2021 at 8:30am ET</li>
</ul>
BigBear.ai (&quot;the Company&quot;), a leading provider of artificial intelligence, machine learning, cloud-based big data analytics, and cyber engineering solutions, and GigCapital4, Inc. ((&quot;GigCapital4&quot;, NASDAQ:<a href="https://www.benzinga.com/stock/GIGGU#NASDAQ">GIGGU</a>, GIG, GIGGW)), a private-to-public equity (PPE)TM&nbsp;entity also known as special purpose acquisition company (&quot;SPAC&quot;), announced today that they have entered into a definitive merger agreement that will result in BigBear.ai becoming a publicly traded company. The transaction is expected to be completed in the&nbsp;third quarter&nbsp;of 2021, at which time the combined company will be named BigBear.ai, Inc., and is expected to be listed on the Nasdaq. The transaction values the Company, which had&nbsp;$140 million&nbsp;in revenues in 2020, at an enterprise value of approximately&nbsp;$1.57 billion.

Contracts

BigBear.ai To Become Publicly Traded Company Via Merger With GigCapital4; Transaction Values BigBear.ai At ~$1.57B

GigCapital4 Shares Halted On Code News Pending

Last week featured six announced SPAC deals. The week also had earnings from several well-known former SPACs.
Here&#39;s a look back at the week that was SPACs for deals, rumors and headline news all covered on Benzinga&rsquo;s &ldquo;<a href="https://www.youtube.com/playlist?list=PL4k0fH8EgI3Z9twaah9Sz_PQQ7VC19X_Y">SPACs Attack.</a>&rdquo;
SPAC Deals
Financial industry savings and investing app Acorns Group is <a href="https://www.benzinga.com/fintech/21/05/21318029/paypal-celebrity-backed-investing-app-acorns-announces-spac-deal-what-investors-should-know">going public </a>in a SPAC merger with Pioneer Merger Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pacx#NASDAQ">PACX</a>) valuing the company at $2.2 billion. Investors in Acorns Group include PayPal Holdings (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pypl#NASDAQ">PYPL</a>), BlackRock Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/blk#NYSE">BLK</a>), Ashton Kutcher, Jennifer Lopez and Dwayne &ldquo;The Rock&rdquo; Johnson.
Acorns in the largest subscription-based service for financial services with more than four million members. The company offers subscription based pricing ranging from $1 to $5 a month. The company plans on expanding its pricing tiers, offering portfolio customization and exploring strategic M&amp;A to grow going forward. Acorns had revenue of $71 million in 2020 and is guiding for revenue to hit $126 million in fiscal 2021.
Biotech company eFFECTOR Therapeutics will <a href="https://www.benzinga.com/general/biotech/21/05/21310546/exclusive-effector-therapeutics-announces-spac-deal-to-advance-cancer-fighting-pipeline">merge </a>with Locust Walk Acquisition Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lwac#NASDAQ">LWAC</a>) in a deal valuing the company at $419 million. Pfizer Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>) is a collaborating partner with eFFECTOR had also participated in the PIPE on the SPAC deal. eFFECTOR is focused on selective translation regulation inhibitors to treat cancer. The company expects to report topline data from a Phase 2b KICKSTART trial of lead candidate tomivorsertib for the treatment of metastatic non-small cell lung cancer soon.
P3 Health Partners is going public with Foresight Acquisition Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fore#NASDAQ">FORE</a>). The deal values the&nbsp;health management company at $2.3 billion. P3 is dedicated to transforming health care for patients, providers and payors using a physician-affiliated model for Medicare Advantage members. P3 operates in four states and covers 11 markets. The company plans to add three to five new markets each year to increase patient growth. P3 is forecasting revenue of $644 million for fiscal 2021, up 31% year over year.
DC fast charging manufacturing company Tritium is <a href="https://www.benzinga.com/m-a/21/05/21299086/ev-charging-infrastructure-leader-tritium-lands-spac-deal-what-investors-should-know">going public</a> in a SPAC merger with Decarbonization Plus Acquisition Corporation II (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dcrn#NASDAQ">DCRN</a>) that values the company at $1.2 billion. Trtium has provided 2.7 million charging sessions in its lifetime and sold more than 4,400 DCFC chargers.
Tritium says it&#39;s the only pure-play DC fast charging the manufacturing company with a global sales and support reach, covering 41 countries and four continents. Charging stations from Tritium have a smaller footprint and lower total cost of ownership than competitors. The company had revenue of $59 million in fiscal 2020 and is expecting revenue to hit $84 million in fiscal 2021.
Valens Semiconductor announced a SPAC merger with PTK Acquisition Corp (AMEX:PTK) valuing the company at $1.16 billion. Valens has shipped over 25 million chips worldwide. The company works with several automotive customers and key players in the audio-video industry. Valens is working on creating chips to help automotive companies with autonomous driving.
Canadian steel company Algoma Steel <a href="https://www.benzinga.com/m-a/21/05/21279094/algoma-steel-gets-spac-deal-what-investors-should-know">announced </a>a SPAC merger with Legato Merger Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lego#NASDAQ">LEGO</a>) valuing the company at $1.7 billion. Algoma Steel is a manufacturer of hot and cold steel products that produces steel for industries like automotive, shipbuilding, energy, mining, defense and manufacturing. Algoma produces an estimated 2.8 million tons of steel per year and is a key supplier to customers in Canada and the Midwest region of the U.S.
SPAC Rumors:
Environmentally friendly cryptocurrency platform Chia Project is in talks to go public in a traditional IPO or SPAC merger later in 2021, according to Bloomberg.
Artificial intelligence company BigBear is in talks to go public with SPAC GigCapital4 (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gig#NASDAQ">GIG</a>), according to Bloomberg.
Babylon, a telehealth platform, is rumored to be going public with Alkuri Global Acquisition Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kuri#NASDAQ">KURI</a>). A SPAC merger could value Babylon at $3.5 billion.
Related Link: <a href="https://www.benzinga.com/exclusives/21/05/21342028/exclusive-beachbody-ceo-talks-at-home-workouts-growth-potential-partnerships-on-spacs-attack">Exclusive: Beachbody CEO Talks At Home Workouts Growth, Potential Partnership On SPACS Attack</a>
Headline News
A <a href="https://www.benzinga.com/fintech/21/01/19064397/sofi-merging-with-palihapitiya-backed-ipoe-spac">merger </a>between fintech company SoFi and Social Capital Hedosophia Holdings Corp V (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ipoe#NYSE">IPOE</a>) was approved by shareholders. Shares will begin trading on the Nasdaq as ticker SOFI on June 1.
Matterport, which is going public via Gores Holdings VI Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ghvi#NASDAQ">GHVI</a>), announced first-quarter financial results. Revenue of $26.9 million was up 108% year over year for Matterport. The company reported annual recurring revenue of $55.2 million. Subscribers totaled 331,000 in the first quarter, up over 500% year over year. The company announced expansion into South Africa and the Middle East.
Noted SPAC investor Chamath Palihapitiya issued an<a href="https://www.benzinga.com/m-a/21/05/21325678/chamath-palihapitiya-calls-for-spac-regulation-what-else-did-he-say-report"> op-ed in Bloomberg </a>that called for more regulation and oversight in the SPAC market. Palihapitiya called for regulators to push for sponsors to include more of their own principal when underwriting deals. He is also calling for information of which companies bid on private companies and how much they were willing to pay to be publicly disclosed. Another change Palihapitiya called for is the PIPE investors on a SPAC deal having the power to change the terms of the deal if the market changes.
Shares of CarLotz Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lotz#NASDAQ">LOTZ</a>) fell after the company <a href="https://www.benzinga.com/news/21/05/21296363/why-carlotz-shares-are-plummeting-19-today">disclosed </a>a leading vehicle sourcing partner paused consignments to the company. The partner represented 60% of all cars sold in the first three months of 2021. The partner represented less than 50% of cars sold by CarLotz in the second quarter at the time of the news.
CarLotz lowered its full year guidance for cars sold to be 13,000 to 15,000, down from a prior range of 18,000 to 20,000 units. The company lowered its revenue forecast for the fiscal year from a prior range of $335 million to $375 million to a range of $272 million to $317 million.
Lordstown Motors (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ride#NASDAQ">RIDE</a>) shares fell after the company <a href="https://www.benzinga.com/news/earnings/21/05/21266078/lordstown-motors-shares-fall-on-lowered-unit-guidance-need-for-capital">said </a>it may not meet its original full year unit guidance and capital is needed by the company. The company sees higher costs for parts, equipment, shipping and third party engineering resources. Lordstown Motors said it will only be able to hit 50% of its prior expectations for the Endurance electric pickup.
Shares of Virgin Galactic (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spce#NYSE">SPCE</a>) traded higher during the week after the company completed a successful flight to space in the previous weekend. The successful flight puts the company another step closer to being able to take passengers to space.
Be sure to tune into &quot;SPACs Attack,&quot; Monday through Friday, 11 a.m. EST. Here are the links to the past week&rsquo;s shows.
Monday: <a href="https://www.youtube.com/watch?v=hHSD85zHRiQ">Upcoming Earnings To Watch?</a>
Tuesday: <a href="https://www.youtube.com/watch?v=8lbZJjeH2MA">The Power of Vascular Innovation SPAC</a>
Wednesday: <a href="https://www.youtube.com/watch?v=rdaZ4XAS79U&amp;t=3s">The Spotify of the Middle East $VMAC $SPOT</a>
Thursday: <a href="https://www.youtube.com/watch?v=PG1iNOCcPr4&amp;t=399s">Why Jam City Has Massive Potential $XPOA</a>
Friday: <a href="https://www.youtube.com/watch?v=Dae5_d3ciOM">Beachbody SPAC Takeover $FRX</a>

<ul>
<li>Special meeting of GigCapital2&rsquo;s stockholders to approve the proposed business combinations with UpHealth Holdings, Inc. and Cloudbreak Health, LLC to be held on June 4, 2021</li>
<li>Following closing, combined company stock and warrants will trade under the ticker symbols &ldquo;UPH&rdquo; and &ldquo;UPH.WS&rdquo;, respectively</li>
<li>GigCapital2&rsquo;s stockholders as of April 26, 2021 should submit their vote by June 3, 2021. For more information regarding how to vote, please visit <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.cstproxy.com%2Fgigcapital2%2F2021&amp;esheet=52430344&amp;newsitemid=20210517005464&amp;lan=en-US&amp;anchor=www.cstproxy.com%2Fgigcapital2%2F2021&amp;index=1&amp;md5=c979270402480482d211f57ca0fe122f">www.cstproxy.com/gigcapital2/2021</a></li>
</ul>

GigCapital2 Announces Effectiveness of Registration Statement and Special Meeting Date for Proposed Business Combinations with UpHealth Holdings, Inc. and Cloudbreak Health, LLC

Earnings

UpHealth Reports Q1 Sales $31M

GigCapital, Inc. Announces Shareholder Approval Of Business Combination With Kaleyra S.p.A

On October3, 2019, GigCapital, Inc., a Delaware corporation (&ldquo;GigCapital&rdquo; or the &ldquo;Company&rdquo;), entered into a&nbsp;non-binding&nbsp;letter of intent (the &ldquo;LOI&rdquo;) with Yakira Capital Management (&ldquo;Yakira&rdquo;) for the acquisition of (i)the 408,750 shares of common stock of GigCapital currently held by Yakira (the &ldquo;Initial Shares&rdquo;), and (ii)the shares of common stock of GigCapital into which the 419,299 rights (NYSE:<a class="ticker" href="/stock/GIG#NYSE">GIG</a>) currently held by Yakira (the &ldquo;Initial Rights&rdquo;) will convert upon the closing of GigCapital&rsquo;s business combination (the &ldquo;Business Combination&rdquo;) with Kaleyra, S.p.A. (&ldquo;Kaleyra&rdquo;, which term also refers to the post-combination company). The date of the closing of the Business Combination is referred to herein as the &ldquo;Business Combination Closing Date.&rdquo; The Initial Rights will convert into 41,929 shares of common stock of GigCapital (the &ldquo;Initial Right Shares&rdquo;) upon the closing of the Business Combination. Prior to the Business Combination Closing Date, Yakira may, but is not obligated to, acquire an additional 500,000 shares of common stock of GigCapital (the &ldquo;Additional Shares,&rdquo; and together with the Initial Shares, the &ldquo;Shares&rdquo;) and 500,000additional rights (the &ldquo;Additional Rights&rdquo; and together with the Initial Rights, the &ldquo;Rights&rdquo;). The Additional Rights may convert into an additional 50,000 shares of common stock of GigCapital (the &ldquo;Additional Rights Shares,&rdquo; and together with the Initial Rights Shares, the &ldquo;Rights Shares&rdquo;). The LOI pertains to the Rights, the Shares and the Rights Shares.

Buybacks

GigCapital Enters Non-Binding Letter Of Intent With Yakira Capital Management For The Acquisition Of The ~408.75K GigCapital Shares Currently Held By Yakira

Management

GigCapital Reports Deal To Combine With Kaleyra For Enterprise Value Of ~$192M

GigCapital 8-K Shows CFO Barrett Daniels Submitted Letter Of Resignation; Tara McDonough Named As Replacement

IDTI

Integrated Device Technology Reports Acceptance of Shares Tendered Into Offer for GigPeak

Toward the end of trading Tuesday, the Dow traded up 0.29 percent to 20,471.73 while the NASDAQ climbed 0.18 percent to 5,774.12. The S&amp;P also rose, gaining 0.26 percent to 2,334.20.
Leading and Lagging Sectors
	Healthcare shares climbed by 0.60 percent in trading on Tuesday. Meanwhile, top gainers in the sector included Cynosure, Inc. (NASDAQ: <a class="ticker" href="/stock/cyno#NASDAQ">CYNO</a>), and Oclaro, Inc. (NASDAQ: <a class="ticker" href="/stock/oclr#NASDAQ">OCLR</a>).
	In trading on Tuesday, utilities shares fell by 0.58 percent. Meanwhile, top losers in the sector included SCANA Corporation (NYSE: <a class="ticker" href="/stock/scg#NYSE">SCG</a>), down 5 percent, and Unitil Corporation (NYSE: <a class="ticker" href="/stock/utl#NYSE">UTL</a>), down 3 percent.
Top Headline
T-Mobile US Inc (NYSE: <a class="ticker" href="/stock/tmus#NYSE">TMUS</a>) reported better-than-expected fourth quarter results.
T-Mobile posted Q4 earnings of $0.45 per share on revenue of $10.18 billion. Analysts were expecting earnings of $0.29 per share on revenue of $9.84 billion.

	Equities Trading UP
	 ZAIS Group Holdings, Inc. (NASDAQ: <a class="ticker" href="/stock/zais#NASDAQ">ZAIS</a>) shares shot up 104 percent to $4.18. Christian Zugel disclosed a 7.5 percent stake in Zais Group.
Shares of Cynosure, Inc. (NASDAQ: <a class="ticker" href="/stock/cyno#NASDAQ">CYNO</a>) got a boost, shooting up 28 percent to $65.93. Hologic, Inc. (NASDAQ: <a class="ticker" href="/stock/holx#NASDAQ">HOLX</a>) announced plans to buy Cynosure for $1.65 billion.
GigPeak Inc (NYSE: <a class="ticker" href="/stock/gig#NYSE">GIG</a>) shares were also up, gaining 13 percent to $3.06. Integrated Device Technology Inc (NASDAQ: <a class="ticker" href="/stock/idti#NASDAQ">IDTI</a>) agreed to acquire GigPeak for around $250 million in cash.

	Equities Trading DOWN
	 Aviragen Therapeutics Inc (NASDAQ: <a class="ticker" href="/stock/avir#NASDAQ">AVIR</a>) shares dropped 39 percent to $0.660 after the company reported top-line results from its Phase 2b SPIRITUS trial of vapendavir. Ladenburg Thalmann downgraded Aviragen Therapeutics from Buy to Neutral.
Shares of Gevo, Inc. (NASDAQ: <a class="ticker" href="/stock/gevo#NASDAQ">GEVO</a>) were down around 32 percent to $1.59. Gevo reported the pricing of $11.9 million public offering of common stock and warrants and signed a Letter of Intent with HCS Holding for the commercial supply of isooctane.
Hibbett Sports, Inc. (NASDAQ: <a class="ticker" href="/stock/hibb#NASDAQ">HIBB</a>) was down, falling around 13 percent to $28.95 after the company issued a weak forecast for the fourth quarter and fiscal 2018. Susquehanna downgraded Hibbett from Positive to Neutral, while SunTrust Robinson Humphrey downgraded the stock from Buy to Hold.

	Commodities

	In commodity news, oil traded up 0.49 percent to $53.69 while gold traded up 0.32 percent to $1,229.70.
	Silver traded up 0.81 percent Tuesday to $17.97, while copper fell 1.31 percent to $2.75.
Eurozone
	European shares closed mostly higher today. The eurozone&rsquo;s STOXX 600 rose 0.02 percent, the Spanish Ibex Index rose 0.28 percent, while Italy&rsquo;s FTSE MIB Index surged 0.65 percent. Meanwhile the German DAX dropped 0.02 percent, and the French CAC 40 rose 0.16 percent while U.K. shares fell 0.14 percent.
Economics
The Producer Price Index rose 0.6 percent for January, versus economists&rsquo; expectations for a 0.3 percent growth.
The Johnson Redbook Retail Sales Index increased 0.4 percent during the first two weeks of February versus January.

Guidance

Eurozone

Commodities

Global

Intraday Update

Markets

AVIR

CYNO

GEVO

HIBB

HOLX

OCLR

TMUS

ZAIS

Mid-Afternoon Market Update: Dow Rises Over 50 Points; Hibbett Shares Slide On Weak Outlook

<ul>
<li>
		ZAIS Group Holdings, Inc. (NASDAQ: <a class="ticker" href="/stock/zais#NASDAQ">ZAIS</a>) shares surged 66.4 percent to $3.41. Christian Zugel disclosed a 7.5 percent stake in Zais Group.</li>
<li>
		PhotoMedex Inc (NASDAQ: <a class="ticker" href="/stock/phmd#NASDAQ">PHMD</a>) shares climbed 35.7 percent to $2.47. PhotoMedex shares have dropped 19.11 percent over the past 52 weeks, while the S&amp;P 500 index has gained 22.83 percent in the same period.</li>
<li>
		Cynosure, Inc. (NASDAQ: <a class="ticker" href="/stock/cyno#NASDAQ">CYNO</a>) shares jumped 28 percent to $65.93. Hologic, Inc. (NASDAQ: <a class="ticker" href="/stock/holx#NASDAQ">HOLX</a>) announced plans to buy Cynosure for $1.65 billion.</li>
<li>
		Reliv International, Inc (NASDAQ: <a class="ticker" href="/stock/relv#NASDAQ">RELV</a>) shares gained 24.1 percent to $7.20 after surging 29.75 percent on Monday.</li>
<li>
		RetailMeNot Inc (NASDAQ: <a class="ticker" href="/stock/sale#NASDAQ">SALE</a>) shares climbed 19.1 percent to $10.65 after the company posted stronger-than-expected Q4 results.</li>
<li>
		Zosano Pharma Corp (NASDAQ: <a class="ticker" href="/stock/zsan#NASDAQ">ZSAN</a>) shares rose 18 percent to $2.00.</li>
<li>
		Delta Technology Holdings Limited (NASDAQ: <a class="ticker" href="/stock/delt#NASDAQ">DELT</a>) shares gained 14.5 percent to $1.44. Delta Technology shares have surged 32.63 percent over the past 52 weeks, while the S&amp;P 500 index has gained 22.83 percent in the same period.</li>
<li>
		Navios Maritime Partners L.P. (NYSE: <a class="ticker" href="/stock/nmm#NYSE">NMM</a>) rose 13.6 percent to $2.01 after the company reported strong Q4 results.</li>
<li>
		Vermillion, Inc. (NASDAQ: <a class="ticker" href="/stock/vrml#NASDAQ">VRML</a>) gained 13 percent to $1.57 after the company disclosed an equity financing of $5.6 million.</li>
<li>
		Agenus Inc (NASDAQ: <a class="ticker" href="/stock/agen#NASDAQ">AGEN</a>) surged 12.8 percent to $4.65. Incyte (NASDAQ: <a class="ticker" href="/stock/incy#NASDAQ">INCY</a>) and Agenus reported an amended collaboration deal for development and commercialization responsibilities for GITR and OX40 programs.</li>
<li>
		GigPeak Inc (NYSE: <a class="ticker" href="/stock/gig#NYSE">GIG</a>) climbed 12.7 percent to $3.06. Integrated Device Technology Inc (NASDAQ: <a class="ticker" href="/stock/idti#NASDAQ">IDTI</a>) agreed to acquire GigPeak for around $250 million in cash.</li>
<li>
		OneMain Holdings Inc (NYSE: <a class="ticker" href="/stock/omf#NYSE">OMF</a>) surged 9 percent to $26.61. OneMain Holdings reported Q4 earnings of $0.80 per share.</li>
<li>
		InVitae Corp (NYSE: <a class="ticker" href="/stock/nvta#NYSE">NVTA</a>) shares rose 9 percent to $10.00. Invitae reported a Q4 loss of $24.8 million. Benchmark upgraded InVitae from Hold to Buy.</li>
<li>
		Scorpio Tankers Inc. (NYSE: <a class="ticker" href="/stock/stng#NYSE">STNG</a>) shares gained 6.1 percent to $4.20 after rising 10.61 percent on Monday.</li>
<li>
		Uranium Resources, Inc. (NASDAQ: <a class="ticker" href="/stock/urre#NASDAQ">URRE</a>) rose 4.7 percent to $2.46 after the company reported preliminary unaudited results for 2016.</li>
<li>
		Zillow Group, Inc. (NASDAQ: <a class="ticker" href="/stock/zg#NASDAQ">ZG</a>) gained 4.6 percent to $36.40. Stifel Nicolaus upgraded Zillow Group from Hold to Buy.</li>
<li>
		Axsome Therapeutics Inc (NASDAQ: <a class="ticker" href="/stock/axsm#NASDAQ">AXSM</a>) gained 4.4 percent to $4.80 after the company disclosed that it has received FDA Fast Track designation for AXS-05 for treatment resistant depression.</li>
<li>
		Cyberark Software Ltd (NASDAQ: <a class="ticker" href="/stock/cybr#NASDAQ">CYBR</a>) rose 3.7 percent to $54.83. Stifel Nicolaus initiated coverage of Cyberark with a Buy rating.</li>
</ul>

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