In 2020 and 2021, we witnessed a SPAC IPO frenzy and the subsequent qualifying acquisitions (QAs). When the dust is settling down gradually, what happened to those companies that went public through QAs or the back doors?
CPE Analytics has profiled three Canadian companies that went public by QAs in 2021. As of December 31, 2021, two of the three companies were on holding pattern while one company was performing poorly.
All dollar figures are in US dollars.
The Lion Electric Company (NYSE/TSX: LEV)
QA Date: May 6, 2021
Total QA transaction value: $1.9 Billion
Deemed Price: $10
Price (12/31/2021): $9.96
Change: -0.4%
Current Price (1/25/2022): $7.31
Li-Cycle Holdings Corp. (NYSE: LICY)
QA Date: August 10, 2021
Total QA transaction value: $975 million
Deemed Price: $10
Price (12/31/2021): $9.94
Change: -0.6%
Current Price (1/25/2022): $7.67
TMC the metals Co Inc. (NASDAQ: TMC)
QA Date: September 9, 2021
Total QA transaction value: $2.9 billion
Deemed Price: $10
Price (12/31/2021): $2.08
Change: -79.2%
Current Price (1/25/2022): $1.34
All three companies had been private equity or corporate backed.
photo credit: Gerd Altmann via pixabay