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Chamath Palihapitiya's 12 SPAC, PIPE Deals: Tracking 2021 And Lifetime Performance

Chamath Palihapitiya has been labeled the King of SPACs and it could come with good reason.

What Happened: Palihapitiya has launched six SPACs on his quest to bring SPACs with tickers IPOA to IPOZ to market. Three of the SPACs have completed deals, one has a pending merger and two are still searching for targets.

Palihapitiya has also been involved with six SPACs as a member of the private investment in public equity, commonly referred to as the PIPE.

The investor tweeted last Friday to “trust the process” after a short report from Hindenburg Research attacked his recently completed SPAC deal Clover Health Investments (NASDAQ: CLOV). The tweet shows that all 12 deals he has been a part of have performed well.

Related Link: 5 Things You Might Not Know About Chamath Palihapitiya

The Palihapitiya SPACs: A look at the SPACs.

  • Virgin Galactic (NYSE: SPCE) was the first SPAC deal completed in the IPOA to IPOZ run from Palihapitiya. Shares of the space company are up 129% year-to-date and up over 440% since the IPOA offering.

  • Opendoor Technologies (NASDAQ: OPEN) is an on-demand digital experience to buy and sell a home. Shares of Opendoor are up 17% year-to-date and up 166% since the shares of IPOB went public.

  • Clover Health offers Medicare Advantage plans. The company says it holds a top-three market share position in its established market. Clover Health shares are down 23% year-to-date but are up 29% since the IPOC offering.

  • Social Capital Hedosophia Holdings Corp IV (NYSE: IPOD) has not named a merger target yet. Shares of the SPAC are up 21% year-to-date and up 65% over their lifetime.

  • Social Capital Hedosophia Holdings Corp V (NYSE: IPOE) announced a merger with fintech company SoFi in early January. Shares of the SPAC are up 86% year-to-date and up 131% over their lifetime.

  • Social Capital Hedosophia Holdings Corp VI (NYSE: IPOF) has not named a merger target yet for the largest SPAC offering from Palihapitiya. Shares of the SPAC are up 26% year-to-date and up 55% over their lifetime.

The PIPE Deals: Along with his own SPACs, Palihapitiya has funded six SPAC deals as a member of the PIPE.

  • MP Materials (NYSE: MP) is a rare earth mining company that is the "thing behind the thing" to support electric vehicles and wind turbines in the future. Shares of MP Materials are up less than 1% on the year and up 222% over their lifetime.

  • Desktop Metal Inc (NYSE: DM) is a 3D printing company bringing additive manufacturing 2.0 to large industrial customers. Shares are up 82% year-to-date and up 212% over their lifetime.

  • INSU Acquisition Corp II (NASDAQ: INSU), a pay per mile insurance company, announced a SPAC merger in November. Palihapitiya invested as part of the PIPE choosing the company as his way to attack the growing disruptive insurance market. Shares are up 13% year-to-date and up 76% over their lifetime.

  • ArcLight Clean Transition Corp (NASDAQ: ACTC) is bringing electric bus company Proterra public in a SPAC deal that includes Palihapitiya as part of the PIPE. Shares are up 125% year-to-date and up over 149% since going public.

  • TS Innovation Acquisition Corp (NASDAQ: TSIA) is bringing enterprise SaaS company public in a SPAC deal. Shares are up 65% year-to-date and up over 67% since going public.

  • Spartan Acquisition Corp II (NYSE: SPRQ) is taking residential solar financing company Sunlight Financial public. Shares are up 22% year-to-date and up over 27% since the offering.

  • Disclosure: The author is long shares SPCE, IPOD, SPRQ.

Strong Performance And Demand: The 12 SPAC deals that Palihapitiya has been involved in have produced an average 47% return for shareholders in 2021. The average lifetime gain for the 12 SPAC deals involving the SPAC King is 137%.

A Twitter poll tracking how many of the 12 SPACs are currently and were at some point owned by responders showed strong interest in Palihapitiya SPACs.

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