Expanding investment opportunities through SPACs
First written in FY2021-Q3. 2 of 4 entries say "Advanced", first in FY2022-Q1. Latest entry: FY2023-Q3.
No other company in this theme has enough history to compare yet.
- FY2023-Q3Business combination not completed; operations suspendedAnnual report
「As 2 SPACs established by the Company as sponsor were unable to complete business combinations with operating companies and suspended operations, US$890 million in contributions from investors other than the Company (the “market investors”) deposited in the trust accounts was returned from those accounts.」
Regarding the expansion of investment opportunities through SPACs, 2 companies were unable to complete business combinations within 24 months of listing, ceased operations and ultimately returned investors’ contributions. - FY2022-Q3AdvancedAnnual report
「During the third quarter, SVF Investment Corp.3, a SPAC of a US subsidiary of SBIA, entered into a definitive merger agreement with Symbotic LLC, a US company that develops automation technology for fulfilment for retailers and distributors. The merger was expected to be completed during the first half of 2022.」
The expansion of investment opportunities through SPACs progressed to the signing of a definitive merger agreement between SVF Investment Corp.3 and Symbotic LLC. The combined company was scheduled to be listed on NASDAQ. - FY2022-Q1AdvancedAnnual report
「SVF Investment Corp., a SPAC subsidiary of SBIA US, listed on NASDAQ in January 2021, while SVF Investment Corp.2 and SVF Investment Corp.3 listed on NASDAQ in March 2021. Each SPAC aims to complete a business combination within 2 years of the settlement date for the funds paid in through its IPO.」
The expansion of investment opportunities through SPACs progressed from the first vehicle to the NASDAQ listings of SVF Investment Corp.2 and SVF Investment Corp.3, with each SPAC reaching the stage of targeting a business combination within 2 years. - FY2021-Q3First statedAnnual report
「In the third quarter, SBIA began investing through SPACs to complement the Group’s investments in listed and unlisted companies and pursue broader investment opportunities beyond the investment scope defined for private funds. As the first step, SVF Investment Corp., a SPAC subsidiary of SBIA, completed its initial public offering and listed on NASDAQ on 8 January 2021.」
SPACs were introduced as an investment vehicle for SVF and SBIA to pursue investment opportunities beyond the scope of private funds, culminating in the NASDAQ listing of the first vehicle. The disclosure stated that a business combination would be pursued within 2 years after listing.