Methodology: In addition to the traditional methodology used whereby any bookrunner or lead manager gets full credit for IPO size to calculate deal volume, there are two additional rankings – volume by number of units sold and volume sold % market share (highlighted in … Our mission is to provide sound objective advice for companies to help maximize shareholder value throughout the corporate lifecycle. Eric Gomberg SPAC Banking, Capital Markets at Odeon Capital Group New York, New York 500+ connections Fusion Acquisition is led by ... with Odeon Capital as co-manager. Paul, Weiss represented Pine Technology Acquisition Corp. in its initial public offering of 34,500,000 units, priced at $10.00 per unit. Type a symbol or company name. Eric is the Head of SPAC Investment Banking at Odeon Capital Group, a New York headquartered boutique investment bank which he joined in 2019. We strive to provide value for our clients in all our research efforts. By exploring the precise nature of cash flows and underlying asset performance metrics, our group uncovers undervalued securities in a thoughtful manner. Odeon Capital is keeping track of the growing hunting party of special purpose acquisition companies (SPACs). Type a symbol or company name. Every month you must fight to collect your paycheck, you are always paid much less than what you are owed. SPAC tracker, track SPAC prices, SPAC news, SPAC sentiments for the most popular SPACs in the market. SPAC Sponsors in general have 18-24 months to identify the acquisition target. Odeon Capital analyst Alex Arnold puts the collective bankroll of blank checks at $57 billion. As agents and consultants, Odeon Capital Group’s Investment Banking platform serves to provide strategic corporate advice to small to mid market companies across a number of industries. Panel participants included Daniel Hennessy, chairman and CEO, Hennessy Capital Acquisition Corp. IV, George Kaufman, Partner and Head of Investment Banking at Chardan, Eric Gomberg, Head of SPAC Banking at Odeon Capital and Douglas Ellenoff, partner, Ellenoff Grossman & … “In general, the better the quality of the sponsor team, the less promote they’ll have to forfeit,” said Eric Gomberg, head of SPAC banking at boutique firm Odeon Capital. Tap on the company to see the details, SPAC leadership info etc. Report this profile; About. SPACs are efficient vehicles for raising capital through the IPO process, though without the typical IPO pricing risks. Our team has discretely placed both large and small volume transactions in every asset class. Beacon Street offers more than 160 products used for financial research, education and investment. “Valuation isn’t the target’s only consideration, but also what the SPAC sponsor team brings to the table.” ... Citi’s co-head of equity capital … The offering included 4,500,000 units issued pursuant to the underwriters’s exercise of their full over-allotment option. Pros. The Odeon model of conflict free independent research is what sets us apart from our bulge bracket competitors. Welcome to FreightWaves Truck Talk, a weekly newsletter adding perspective, context and commentary to industry news and trends. Mission Statement. Beacon Street to go public via $3 bln SPAC merger, The Week's Top Stories: Inflation, Elon's Bitcoin Reversal, and Airbnb's Earnings, Goldman's Katie Koch on Tech Stocks: 'The Future Is on Sale', In The Money: Baby Out with the Bathwater. Management teams, known as SPAC Sponsors, provide general governance, conduct the IPO, and identify potential acquisition targets. SPAC Insider lists 248 SPACs filed in 2020. Intransa Inc. was a pioneer IP SAN company in the storage industry, backed by prominent Silicon Valley venture capital firms. Initial S-1 Date: 2020-10-27. Odeon Capital Group's mission is to be a leading full-service boutique broker/dealer to institutional clients. Cantor Fitzgerald is the sole bookrunner for the IPO and Odeon Capital Group is serving as co-manager for the offering. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Anchor Investor – Cohen and Company . Join to Connect. Earlier this month InsurTech Hippo announced it was merging with a Spac in a transaction that gave it a $5bn valuation. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. The cash portion of the deal, announced on Tuesday, will be financed by the $414 million raised in an initial public offering by the blank-check firm last year and $150 million from private investors. ... Odeon Capital Group. The underwriters, led by Cantor Fitzgerald and Odeon Capital Group, were represented by Ellenoff Grossman. On that run rate, the total amount of funds generated through SPACs in 2020 will exceed the aggregate amount raised over the last ten years. The depth and extent of our relationships across a wide array of market participants give us the edge to provide the best execution for our clients. In 2020, 248 SPACs went public on U.S. exchanges, raising more than $83 billion. GigCapital KLR (Merged with Kaleyra); 2. “Valuation isn’t the target’s only consideration, but also what the SPAC sponsor team brings to the table.” Clients receive bespoke financial solutions and strategic advisory services on a wide range of transactions implementing our cutting-edge financial services capabilities. Create your Watchlist to save your favorite quotes on Nasdaq.com. Each unit includes 1/2 of 1 Warrant. © Odeon Capital Group LLC750 Lexington Avenue, 27th Floor New York, NY 10022Member: FINRA, NFA, MSRB, & SIPC, Asset-Backed Securities (student loans, credit cards, franchise, aircraft), Corporate Credit (High Yield, Distressed Debt, Bank Loans, Crossover, Trade Claims, Reorg Equities, Leveraged Equities). GigCapital2 GIX (No Merger Yet); A SPAC is a special purpose acquisition company. Previous SPACs – 1. Nice Office Space, great location across from Bloomingdale's. At offering, the SPAC raised 22% more in proceeds than originally anticipated. We have underwritten some of the strongest sponsor teams in high growth sectors including Consumer, Gaming, FinTech, Media, Mobility, TravelTech, and Space. March 2 (Reuters) - Beacon Street Group will go public through a merger with blank-check firm Ascendant Digital Acquisition Corp ACND.N, in a deal that pegs the financial research subscriptions service's pro-forma enterprise value at $3 billion. Sponsor – GigAcquisitions3. Going Public via a SPAC vs. an IPO or Direct Listing. We also work with exceptional companies as they navigate their path to a SPAC merger. The service is available on platforms including mobiles, desktops and tablets. They provide equity capital for growth and investment without excessive debt and debt service costs. SPACs – Odeon Capital is uniquely qualified to provide exceptional assistance to a … It is a shell company raises money from public investors and uses it to fund an acquisition of a private chain. Odeon Capital is uniquely qualified to provide exceptional assistance to a SPAC Sponsor throughout the SPAC lifecycle. The SPAC train keeps on rolling. As the auditor of record for approximately $100 billion of SPAC IPO’s sponsored by the investment community during the last 24 months, Withum has emerged as the firm of choice in the SPAC arena, many which are backed by private equity and venture capital firms. Post-close, we are eager to remain a trusted capital markets and strategic advisor. Our published Fixed Income Research product explores the value in the high yield & distressed corporate securities universe. As a market leader in analyzing and trading the full range of fixed income products, Odeon is able to offer unique idea-driven market-based solutions to the client challenges of managing their assets and liabilities. Since the SPAC is newly formed, investors don't face unexpected liabilities. We are focused on being a fundamental financier to our client, providing capital-raising services which enable our clients to grow. We provide in-depth industry insight as we target specific issuers and opportunities where we believe we can shine light into relatively underfollowed or uncovered investment opportunities. Since inception, we have traded tens of billions of dollars in securities: creating and providing liquidity in unique sectors. The SPAC train keeps on rolling. SPACs provide for targeted, opportunistic business combinations by experienced management teams. According to Odeon Capital Group research, as of December 2, 2020, 210 SPAC IPOs had been completed representing gross proceeds of ~$72 billion. Investors are not notified in advance on what company the SPAC will buy. When the combination is announced, SPAC shareholders may elect to either redeem their shares for cash held in trust or receive shares in the newly combined company. As I noted in a recent post, one of the most distinctive phenomena in the U.S. financial markets this year has been the tremendous amount of IPO activity involving Special Purpose Acquisition Companies (SPACs).According to SPACInsider (), there have been 243 SPAC IPOs so far in 2020 (as of December 22, 2020), raising total gross proceeds of over $81.3 billion. This year is on pace to set a new record, with 143 SPACs … Oppenheimer & Co Inc and Odeon Capital are financial advisers to Beacon Street, while UBS Investment Bank was the sole financial and capital markets adviser to Ascendant. It counts 149 suitors seeking business combination targets. Odeon Capital analyst Alex Arnold … SPACs are complicated, multi-stage transactions and our banking team excels in providing tailored solutions to complex challenges. Unlike many participants in this market, Odeon is keenly focused on providing reliable and efficient execution in the following products: Our goal is to become the leading advisor and banker to our clients: building client relationships based on our trusted expertise. The transaction with the special purpose acquisition company (SPAC) is expected to be completed in the second quarter. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Our team is comprised of over 100 sales, trading, and research professionals dedicated to structured products, corporate securities, municipals, and treasuries. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Odeon Capital Group LLC. Odeon Capital Group’s Investment Banking Division provides a host of advantages to our clients: A SPAC is an investment vehicle formed through an Initial Public Offering (IPO) whose purpose is to acquire operating businesses. The transaction with the special purpose acquisition company (SPAC) is expected to be completed in the second quarter. Odeon’s SPAC practice is an excellent fit within our Investment Banking group. Daily SPAC rankings, searchable SPAC list with target company details. Head the SPAC Investment Banking team at Odeon Capital. It counts 149 suitors seeking business combination targets. It invests at least 80% of its net assets in SPACs and SPAC-derived companies. Managers – Nomura, Oppenheimer, and Odeon Capital Group. Definitive Agreement Date: nan. Eric Gomberg, Head of SPAC Banking (Odeon Capital Group LLC) Join Webinar; 11:05 AM Legal, Tax, Accounting & Risk Management: What Are The Key Questions SPAC Issuers, Investors & Target Companies Must Answer • Formation, structures and economic terms • Structural IPO, warrant & PIPE issues Copy and paste multiple symbols separated by spaces. The transaction with the special purpose acquisition company (SPAC) is expected to be completed in the second quarter. An $80M sweetener brand acquisition yesterday might be the catalyst that draws investor interest to a below-the radar SPAC transition from earlier this year, Odeon Capital … Odeon employs a sophisticated and highly skilled team, with strong quantitative skills as well as considerable client reach across the country. The fund is non-diversified. Our structured credit research group provides our sales team with comprehensive, granular valuation services. Below are the recently released Q2 & First Half 2020 SPAC IPO Underwriting League Tables. #TradeTalks: Can we expect further market weakness, or is this pullback a buying opportunity? Head of SPAC Banking Odeon Capital Group LLC Eric Gomberg is the Head of SPAC Investment Banking at Odeon Capital Group, a New York headquartered boutique investment bank. The entity will be led by Christopher Longo, a former AmTrust chief operating officer who will become CEO of the Spac. “In general, the better the quality of the sponsor team, the less promote they’ll have to forfeit,” said Eric Gomberg, head of SPAC banking at boutique firm Odeon Capital. SPACs are companies with no commercial operations that are established solely to raise capital from investors for the purpose of acquiring one or more operating businesses. We have extensive expertise in both traditional and esoteric assets. Odeon Capital. The units, each of which consists of one share of the Company’s Class A common stock and one third of one warrant, … © 2021, Nasdaq, Inc. All Rights Reserved. The Spac is sponsored by Pine Technology Sponsor LLC, an investment fund set up by “current and former senior executives of AmTrust”, a privately held insurance company owned by Stone Point Capital, and the Karfunkel family. Research is at the root of everything for Odeon and the core from which all ideas and actions originate. More than 170 SPACs have tapped capital markets so far in 2020, raising upward of $50 billion, according to analysis by Kevin LaCroix at the D&O Diary. Odeon underwrites leading SPAC sponsors, and advises both SPAC sponsors, and target companies on their mergers into SPACs. I worked at Odeon Capital for less than a year. Odeon brings new ideas, creativity and thoughtful solutions to our clients' most complex problems, structuring client specific transactions in difficult capital market situations. A SPAC is a shell company that uses IPO proceeds to buy another company, typically within two years, in a merger that will take the acquired company public. Fixed Income, SPACs, Preferreds, Convertibles and Equities at Odeon Capital New York, New York 500+ connections. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Sriraj Kalluvila), ((noor.hussain@thomsonreuters.com; Within U.S. +1 646 223 8780; Outside U.S. +91 80 6182 2663 or +91 80 3796 2663 ;)). While many investment banks are strong in certain aspects of a successful SPAC, we pride ourselves in strong capabilities throughout the entire process, including the challenging DeSPAC process. The two chains merge, the shell company takes on the acquired firm’s name, taking it public. Odeon Capital Group. The transaction with the special purpose acquisition company (SPAC) is expected to be completed in the second quarter. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. A company is formed with the intent of conducting an IPO to raise capital to be used to acquire one or more to-be-determined businesses or assets. We look to engage with a Sponsor prior to the IPO to ensure preparedness, and work with them through all facets of the SPAC, from IPO, through merger close. Ader SPAC 26 Capital Upsizes IPO in Big Way, Prowls for Gaming Acquisitions Todd Shriber — January 21, 2021 Marquee Raine, SPAC Controlled by Cubs Owner, DraftKings Backer, Prices $325 Million IPO Our research team has one goal: to provide specific, actionable, and thoughtful investment analysis. Frequent SPAC industry speaker. We strive to provide comprehensive advice and executional excellence on complicated transactions across products in difficult markets to help our clients reach their goals. 20,000,000 Units – $200,000,000. These symbols will be available throughout the site during your session. We are collaborative partners with larger investment banks, providing boutique firm service with bulge bracket capabilities. EXCLUSIVE-U.S. insurer American National Group up for sale -sources, SPECIAL REPORT-The ex-Pfizer scientist who became an anti-vax hero, EXCLUSIVE-Qatar pivots to LNG-hungry China in strategy shift, Musk decries bitcoin's 'insane' energy use after Tesla payment U-turn, Do Not Sell My Personal Information (CA Residents Only). Beacon Street Group will go public through a merger with blank-check firm Ascendant Digital Acquisition Corp, in a deal that pegs the financial research subscriptions service's pro-forma enterprise value at $3 billion. Status: Searching Unit details: Each unit has an offering price of $10.00 and consists of one share of Class A common stock and one-third of one redeemable warrant Target: nan Target Notes: nan Investor Presentation: View Leadership: nan Other Key People:nan Underwriters: Cantor Fitzgerald & Co, Odeon Capital Group Initial S-1 Date: 2020-12-10 Definitive Agreement Date: nan We are committed to maximizing value for our clients through in-depth bespoke analysis of sectors, asset classes, and complicated individual securities. SPACs have emerged as a popular IPO alternative for companies this year, providing a path to going public with less regulatory scrutiny. Recent Spac IPOs targeting the insurance sector include Delwinds. Cons. Timeline – 24 months from IPO. Odeon Capital is keeping track of the growing hunting party of special purpose acquisition companies (SPACs). 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