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

Author: Chris Katje | February 10, 2021 09:15am

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.

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.

Okay new question for my #spacsquad on this Friday night. Of the 12 Chamath spacs listed below, how many do you currently own and how many of them have you owned at some point. For me it is 4/6. @SpacGuru @SpacTiger @BillSPACman @Mindwalletbody @stocktalkweekly @SPACtrack https://t.co/Xv7KNbP8U5
— Chris Katje (@chriskatje) February 5, 2021