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Spac Guru, a well-known name in the SPAC space — who on Twitter is @SpacGuru — joined SPACs Attack last week to share thoughts on the overall SPAC market. Spac Guru also shared three undervalued SPAC picks with viewers of the show.
Soaring Eagle Acquisition Corp (NASDAQ:SRNGU): A SPAC still trading in units is the largest SPAC holding for Spac Guru. As a SPAC, Soaring Eagle has raised more than $1 billion.
The SPAC comes from Jeff Sagansky and Harry Sloan, who are the team behind taking Draftkings Inc (NASDAQ:DKNG) and Skillz Inc (NYSE:SKLZ) public. “The group is only at NAV,” Spac Guru said.
Spac Guru told viewers that this could be a great SPAC to look at if you “don’t know where to go” given the track record of Sloan and Sagansky.
Bull Horn Holdings Corp (NASDAQ:BHSE): Spac Guru’s dark horse candidate for an undervalued SPAC is Bull Horn Holdings.
“The reason that I like Bull Horn is first of all Rob Striar is a stud,” Spac Guru said of the leader of the SPAC. Spac Guru cited Striar's experience with Walt Disney Co (NYSE:DIS) and several professional sports companies.
The Bull Horn Holdings SPAC also downsized its amount raised when it went public, with Striar saying this was “a competitive advantage.” Spac Guru pointed out that the lower sponsorship fees from Bull Horn could help the SPAC be attractive to companies looking to go public.
Bull Horn has “better terms for a company that goes public.”
For more on Bull Horn, check out Benzinga’s interview with Rob Striar here.
Related Link: 6 Sports SPACs To Consider For Your Investing Playboy
Omnichannel Acquisition Corp (NYSE:OCA): Another SPAC highlighted by Spac Guru was Omnichannel Acquisition.
“Another one that I really don’t understand is OCA,” SpacGuru said highlighting the stock trading below $10.
Spac Guru highlighted Gary Vaynerchuk, who is a member of the SPAC leadership team. “The guy is a stud," SpacGuru said. “The guy is 100% always on and he will die before he quits.”
Spac Guru told viewers to look at the management team for the SPAC: “I like to bet the jockey, not the horse.”
For more on Omnichannel Acquisition, check out Benzinga’s interview with Matt Higgins here.
Other Picks: Along with the three undervalued SPACs Spac Guru highlighted, he also shared his thoughts on Supernova Partners Acquisition Co Inc (NYSE:SPNV), calling its co-founder Spencer Rascoff a stud. This SPAC is taking Offerpad public.
Spac Guru also mentioned that he has been adding to his positions in Arrival Group SA (NASDAQ:ARVL) and ArcLight Clean Transition Corp (NASDAQ:ACTC), which is bringing Proterra public.
Disclosure: Author is long shares of SRNGU and OCA. Spac Guru held long positions in OCA, BHSE, SRNGU, ARVL, SPNV and ACTC at the time of the interview.
(Photo: Screenshot of Spac Guru Twitter feed)
