SPACs heat up

Vivid Seats is due to start trading next week after the SPAC deal with Horizon Acquisition Corp. was approved. The stock will get attention within the sports betting sector after DraftKings (NASDAQ:DKNG) agreed to make an undisclosed investment. As part of the deal, DraftKings has an option to sell its Vivid Seats stock back for $9.77 a share a year after the merger is completed. 

A number of SPAC deals go to a vote next week including 

• the GS Acquisition Holdings Corp II (NYSE:GSAH)-Mirion Technologies combination, 
• the Alkuri Global Acquisition (NASDAQ:KURI)- Babylon combination and 
• the Seaport Global Acquisition (NASDAQ:SGAM)- Redbox combination. 

In one of the more highly-anticipated SPAC deals of the year, BowX Acquisition Corp. (NASDAQ:BOWX) shareholders vote on the planned combination with WeWork. The merger values WeWork at around $9B including debt, which is far below the $47B valuation that WeWork attracted in 2019 before its IPO efforts flamed out. SoftBank (OTCPK:SFTBY) still holds a stake in WeWork.