Blank check company Qell Acquisition ($QELLU) is concluding its first week trading on the Nasdaq and will be focusing on companies working in next-generation mobility, transportation, and sustainable industry technology sectors. The company's founder and CEO Barry Engle told Cheddar it can be beneficial for a company to go public via increasingly popular special purpose acquisition companies (SPAC) instead of a traditional IPO or a direct listing.
"In periods of volatility like we're seeing now, a SPAC becomes an excellent alternative. It's a quicker, faster route to market," he said.
Engle stressed the stability that a SPAC provides over other options. "Because of the nature of the SPAC, you're able to agree with the target company in advance what the price is. In contrast with a traditional IPO — where, depending on the day you launch, maybe you get lucky, maybe it's a bad day in the market — all of that uncertainty can be removed with a SPAC."
Now that Qell Acquisition is trading on the public market, it will be able to engage with potential targets. When it comes to businesses in industries such as next-generation mobility and transportation, Engle says his team is looking for, "companies in these spaces that are growing, that have winning technologies, and have the opportunity to take advantage of some of these large secular trends." Engle specifically pointed to a move towards electric vehicles and away from internal combustion engines.
Above all, Engle said that it's about the potential these companies have, both on Wall Street and in their particular sectors. With their technologies "these companies will have the opportunity to grow and post extraordinary growth versus the market and versus other companies."
Truist's Mike Skordeles unpacks earnings trends, market correction, labor force dynamics, and what a possible December rate cut could mean for all of us.
Holiday shopping heats up as big-box earnings reveal how Walmart, Target & Home Depot are navigating consumer pressure, strategy shifts and trends shaping 2025.
The Campbell’s Co. said Tuesday it has placed one of its executives on leave while it investigates claims that he made racist comments and mocked the company’s products and customers in an audio recording.
Elon Musk’s X unveiled a feature that lets users see where an account is based. Online sleuths and experts quickly found that many popular accounts, often posting in support of the U.S. MAGA movement with thousands or hundreds of thousands of followers, are based outside the U.S. This raises concerns about foreign influence in U.S. politics.
The Enhanced Games is going public in two ways — with a new listing on the Nadsaq stock exchange and also by offering a direct-to-consumer business focused on performance products.
Real estate software company RealPage has agreed to stop sharing nonpublic information between landlords as part of a settlement with the Department of Justice.
