Some De-SPACs rise and Some De-SPACs fall, but 'tis the first earnings reports and not the projections that tell us which way they will go

HotelPlanner

HotelPlanner is a leading travel technology company that combines proprietary artificial intelligence capabilities with a 24/7 global gig-based reservations and customer service network. HotelPlanner travel agents can customize all traveler hotel & accommodation needs from a single platform while providing localized advice. HotelPlanner is one of the leading providers of individual, group and corporate travel bookings, specializing in unique “Closed User Group” discounted rates offered in unpublished private sale environments. Founded in 2004, HotelPlanner has enduring partnerships with many of the world’s largest OTAs, well-known hotel chains, individual hotels, online wedding providers, ancillary lodging providers, corporations, professional and amateur sports teams and franchises, universities and government agencies.

Reservations.com

Reservations.com is an award-winning online travel company on a mission to bring the human-touch back to travel. Founded in 2014 with a focus on helping consumers create memorable travel experiences, Reservations.com has experienced rapid growth. Reservations.com's user-friendly website offers unparalleled visibility into hotels, including: descriptions, pricing information, and reviews of nearly 500,000 properties globally.

GreenLight Biosciences is an integrated life sciences company with a breakthrough biomanufacturing platform for discovering, developing, scaling, and commercializing ribonucleic acid (RNA) solutions at volume for a diverse product pipeline across agriculture and human health. Applications include vaccine development, pandemic preparation, crop management, and plant protection. The GreenLight team values diversity, inclusion, and equality and uses collaboration to remain scientifically imaginative and passionately focused on making a difference in the world.

GaN Systems, which specializes in gallium-nitride technology for products such as semiconductors and transistors, is in talks to go public through Wilbur Ross’s Ross Acquisition Corp. II (ROSS: $9.76), according to people with knowledge of the matter.

As a deal hasn’t been finalized, terms could change or talks could fall apart.

“My policy is not to comment on rumored acquisitions,” Ross said in an interview. “At such time as the SPAC has a definitive agreement with any target, I would be happy to discuss the details.”

A representative for GaN said the company’s policy is also not to comment on rumors or speculation.

“Yesterday’s silicon has reached its limits,” and power systems based on gallium nitride can replace that technology at a lower cost and with one-quarter the power loss, GaN says on its website.

The company, led by Chief Executive Officer Jim Witham, has counted Taipei-based Delta Electronics Inc., BMW Group’s venture arm BMW i Ventures, BDC Capital and Chrysalix Venture Capital among its investors.

Billionaire hedge fund manager William Ackman on Tuesday bought 7.1% of Universal Music Group from French conglomerate Vivendi (VIV.PA) and pledged to keep buying after his original plan to acquire a 10% stake in the record label for his blank-check company [Pershing Square Tontine Holdings (PSTH: $20.21)] collapsed.

Vivendi said the transaction was valued at $2.8 billion, based on an enterprise value of 35 billion euros ($41.01 billion) for 100% of UMG's share capital.

Ackman still has the right to buy up to 2.9% more in UMG by Sept. 9, Vivendi said.

For Ackman, this marks the first part of a promise to make good on his pledge to buy a sizable stake in UMG after the complex SPAC deal he put together crumbled last month amid scrutiny from U.S. regulators.

Ackman has told his own clients that music is the cheapest form of entertainment in the world and a savvy investment because it pays royalties.

His public and private hedge funds run by his firm Pershing Square Capital Management made this investment.

Ackman is currently raising fresh capital from investors to potentially buy more of UMG, according to people familiar with his plans.

Shares of Lightning eMotors (ZEV: $11.60) rose as much as 89% on Tuesday, hitting their highest level since going public via SPAC, after entering an $850 million partnership deal with a Berkshire Hathaway-backed bus maker.

Lightning eMotors will work with Forest River, the largest shuttle-bus maker in North America, to deliver up to 7,500 zero-emission shuttle buses in the US and Canada starting this year to 2025.

Lightning shares pared from intraday highs and traded roughly 67% higher as of 2:30 p.m. in New York.

The EV maker will build fully electric powertrains at its Loveland, Colorado, facility, and provide charging products and services to Forest River. The powertrain systems will then be shipped to Forest River's factory in Goshen, Indiana, where final assembly will take place for Class 4 and 5 electric passenger buses.

The buses will have batteries that can support ranges on a single charge between 80 miles and 160 miles, the companies said in a joint statement. Forest River runs more than 100 bus dealerships in the US and Canada and the vehicles may be sold and serviced there, with the aim to deliver the new shuttle buses to dealerships by the end of 2021.