SPAC Deep Dive, subSPAC

subSPAC

SPAC Deep Dive

Each week we’ll identify and break down for you SPACs that are capturing market share and making an impact.

Equity Bottom-Up

Cactus Acquisition Corp 1 Ltd / Equity Bottom-Up

<ul><li>This last week was packed with deals, amendments, and merger breakups.</li><li>A SPAC is set to merge with an electric utility firm, and a blank-cheque firm is taking a critical metals supply chain-focused firm.</li><li>Also, Sam Altman’s SPAC surges as it nears a deal, and a SPAC terminates a merger with a hydrogen energy firm. Read on to find out the latest about all things SPACs. </li></ul>

This last week was packed with deals, amendments, and merger breakups.A SPAC is set to merge with an electric utility firm, and a blank-cheque firm is taking a critical metals supply chain-focused firm.Also, Sam Altman’s SPAC surges as it nears a deal, and a SPAC terminates a merger with a hydrogen energy firm. Read on to find out the latest about all things SPACs. 

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>The WTR Sustainable Index was down by 1.1% W/W versus the S&amp;P 500 Index (up 2.3%), the Russell 2000 Index (up 1.6%), and the Nasdaq Index (up 3.0%).</li><li>Energy Technology (12.5% of the index) was up by 1.5%, while Industrial Climate and Ag Technology (55.5% of the index) was up by 1.4%, ClimateTech Mining was down 3.0% and Advanced Transportation Solutions (24.2% of index) was down 8.1%.</li><li>Top 10 Performers: GOEV, AMTX, ZEV, LICY, LIDR, EVTV, FFIE, <span style="font-size: var(--content-font-size);">KULR, MVST, NEOV</span></li></ul>

The WTR Sustainable Index was down by 1.1% W/W versus the S&amp;P 500 Index (up 2.3%), the Russell 2000 Index (up 1.6%), and the Nasdaq Index (up 3.0%).Energy Technology (12.5% of the index) was up by 1.5%, while Industrial Climate and Ag Technology (55.5% of the index) was up by 1.4%, ClimateTech Mining was down 3.0% and Advanced Transportation Solutions (24.2% of index) was down 8.1%.Top 10 Performers: GOEV, AMTX, ZEV, LICY, LIDR, EVTV, FFIE, KULR, MVST, NEOV

Weekly Sustainable Investing Surveyor - NWeek Ended March 22, 2024

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zeekr-intelligent-technology-holding" target="_blank" data-smartkarma-citation="entities:36785:1" rel="noopener">ZEEKR (ZK US)</a>, a premium Chinese BEV manufacturer and a subsidiary of <a href="https://www.smartkarma.com/entities/geely-automobile-holdings-ltd" target="_blank" data-smartkarma-citation="entities:127:1" rel="noopener">Geely Auto (175 HK)</a>, has filed for a US$500 million IPO to list on the NYSE.</li>
<li>In <em><strong><a href="https://www.smartkarma.com/insights/zeekr-ipo-the-bull-case" target="_blank" data-smartkarma-citation="insights:117508" rel="noopener">ZEEKR IPO: The Bull Case</a></strong></em>, we highlighted the key elements of the bull case. In this note, we outline the bear case.</li>
<li>The bear case rests on growth slowdown in the second-largest business, high related-parties dependence, Virdi/CEVT gross margin pressure, ongoing operating losses and FCF burn.</li>
</ul>



ZEEKR (ZK US), a premium Chinese BEV manufacturer and a subsidiary of Geely Auto (175 HK), has filed for a US$500 million IPO to list on the NYSE.
In ZEEKR IPO: The Bull Case, we highlighted the key elements of the bull case. In this note, we outline the bear case.
The bear case rests on growth slowdown in the second-largest business, high related-parties dependence, Virdi/CEVT gross margin pressure, ongoing operating losses and FCF burn.


<ul>
<li>
<a href="https://www.smartkarma.com/entities/zeekr-intelligent-technology-holding" target="_blank" data-smartkarma-citation="entities:36785:1" rel="noopener">ZEEKR (ZK US)</a>, a premium Chinese BEV manufacturer and a subsidiary of <a href="https://www.smartkarma.com/entities/geely-automobile-holdings-ltd" target="_blank" data-smartkarma-citation="entities:127:1" rel="noopener">Geely Auto (175 HK)</a>, has filed for a US$500 million IPO to list on the NYSE.</li>
<li>ZEEKR has launched three models - the luxury shooting brake coupe ZEEKR 001, the luxury pure electric MPV – ZEEKR 009 and the new luxury versatile SUV – ZEEKR X.</li>
<li>The bull case rests on bestselling premium BEVs, rapid vehicle sales growth, rising gross margin, debt-free balance sheet and a favourable cash conversion cycle.</li>
</ul>



ZEEKR (ZK US), a premium Chinese BEV manufacturer and a subsidiary of Geely Auto (175 HK), has filed for a US$500 million IPO to list on the NYSE.
ZEEKR has launched three models - the luxury shooting brake coupe ZEEKR 001, the luxury pure electric MPV – ZEEKR 009 and the new luxury versatile SUV – ZEEKR X.
The bull case rests on bestselling premium BEVs, rapid vehicle sales growth, rising gross margin, debt-free balance sheet and a favourable cash conversion cycle.


<div><div><div><div><ul><li>RROYF provides a non-dilutive royalty financing solution (through a combination of short-term loans and the acquisition of revenue-based royalties) to privately held and publicly traded renewable energy and clean energy technology companies.</li><li>RROYF’s objective is to acquire a portfolio of long-term, stable, diversified renewable energy royalty and income streams to provide shareholders with capital appreciation and a growing, sustainable, long-term cash distribution.</li><li>RROYF is a pioneer and the first publicly traded company to provide this royalty financing for the renewable energy and clean technology sector.</li></ul></div></div></div></div>

RROYF provides a non-dilutive royalty financing solution (through a combination of short-term loans and the acquisition of revenue-based royalties) to privately held and publicly traded renewable energy and clean energy technology companies.RROYF’s objective is to acquire a portfolio of long-term, stable, diversified renewable energy royalty and income streams to provide shareholders with capital appreciation and a growing, sustainable, long-term cash distribution.RROYF is a pioneer and the first publicly traded company to provide this royalty financing for the renewable energy and clean technology sector.

Weekly Sustainable Investing Surveyor - Week Ended August 25, 2023

United States

Canoo Inc. operates as an electric vehicle company. The Company specializes in cars, mini buses, and commercial vehicles for rental and sharing services. Canoo serves customers in the United States.

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Canoo Inc (GOEV US)

Electrifying the Fleet

A SPAC is set to merge with an electric utility firm, and a blank-cheque firm is taking a critical metals supply chain-focused firm.

subSPAC

Weekly Sustainable Investing Surveyor - NWeek Ended March 22, 2024

The WTR Sustainable Index was down by 1.1% W/W versus the S&P 500 Index (up 2.3%), the Russell 2000 Index (up 1.6%), and the Nasdaq Index (up 3.0%).

Water Tower Research

ZEEKR IPO: The Bear Case

The bear case rests on growth slowdown in the second-largest business, high related-parties dependence, Virdi/CEVT gross margin pressure, ongoing...

Arun George

ZEEKR IPO: The Bull Case

The bull case rests on bestselling premium BEVs, rapid vehicle sales growth, rising gross margin, debt-free balance sheet and a favourable cash...

Arun George

Weekly Sustainable Investing Surveyor - Week Ended August 25, 2023

RROYF is a pioneer and the first publicly traded company to provide this royalty financing for the renewable energy and clean technology sector.

Water Tower Research

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