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There were plenty of completed Special Purposes Acquisition Companies (SPACs) merger news in 2020 as more companies use it as a way to go public. SPACs had been gaining in popularity lately as companies are using them to avoid the normal hassle of n initial public offering. Now we will present you the top 10 performing SPACs listed in Nasdaq in 2020.
Top 10 SPACs listed in Nasdaq in 2020
1. QuantumScape
This company is a leader in the development of next-generation solid-state lithium-mental batteries for use in electric vehicles. The main agenda of this company is to revolutionize energy storage to enable a sustainable future. The amount raised from this company was $84.85 million. Their return was 1,115%.
2. Draftkings
This company is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. The amount raised by the company was $53.39 million. Their return was 444%.
3. Immunovant
This company is a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases. The company is developing IMVT-1401 which is a novel and fully human anti-FcRn monoclonal antibody, as a subcutaneous injection for the treatment of autoimmune disease mediated by pathogenic IgG antibodies. The amount raised by the company was $47,02 million. Their return was 372%.
4. Open Lending
This company provides automated lending services to financial institutions. The company specializes in loan analytics, risk-based pricing, risk modelling and automated decision technology for automotive lenders throughout the United States. This company was founded in Austin, in 2000. The price raised by this company was $38.54 million.
5. SwitchBank Energy
This company offers the best electric vehicle (EV) charging experience for everyone involved in the shift to electric mobility. The amount raised by this company was $38.20 million. Their return was 287%.
6. Adapthealth
This company is a provider of home healthcare equipment and related services. Its products portfolio includes mobility products, sleep therapy and sleep therapy supplies, respiratory theory, non-invasive ventilation, nutrition supplies, bed lifts, seat lifts chairs, home modification, power mobility, and bath aids. The amount raised by this company was $38.17 million. Their return was 293%.
7. Iridium
In a world where global communications are increasingly essential, this company connects everyone to the things that matter most, from pole to pole. It offering voice and data connectivity through a constellation of 66 crosslinked LEO satellites and keeps people and things connected on the land, in the air, or at the sea. The amount raised by the company was $36,71 million. Their return was 304%.
8. MP Materials
This company owns and operates Mountain Pass, the only integrated rare earth mining and processing site in North America. The company’s success will drive the onshoring of jobs, national security and a carbon-reduced future. The amount raised by this company was $35.28 million. Their return was 254%.
9. Betterware
This company was established in 1995. It is the leading direct-to-consumer selling company in Mexico, whose CAGR from 2003-2019 was 20%. This company’s wide product portfolio includes home organization, kitchen preparation, food containers, smart furniture, technology and mobility, as well as other minor categories. The amount raised by this company was $32.54 million. Their return was 232%.
10. Repay
This company provides integrated payment processing solutions to verticals that have specific transaction processing needs. Its proprietary, integrated payment technology platform reduces the complexity of electronic payments for merchants while enhancing the overall experience for consumers and businesses. The amount raised by this company was $ 26.89 million. Their return was 178%.