In Chamath Palihapitiya's latest SPAC empire building move, his four new new biotech focused SPACs from Social Capital and Suvretta start trading today. Expect these to do well with the retail crowd given Chamath's improved standing after successfully navigating a rough patch of SPAC-related results over the last few months.
DNAA - Social Capital Suvretta Holdings Corp. I targeting Neurology
DNAB - Social Capital Suvretta Holdings Corp. II targeting Oncology
DNAC - Social Capital Suvretta Holdings Corp. III targeting Organ-related
DNAD - Social Capital Suvretta Holdings Corp. IV targeting Immunology
After a rough patch earlier this year where Virgin Galactic (SPCE) was struggling and Clover Health (CLOV) was embroiled in controversy, Chamath's SPACs (pre and post) have given investors a lot to be excited about. All of his de-SPACs are performing well, his two pre-deal SPACs in the IPO series are above NAV, and his PIPE investments are looking strong.
IPOA | $ 47.02 | De-SPAC -> Virgin Galactic Holdings Inc
IPOB | $ 17.35 | De-SPAC -> OpenDoor Labs Inc.
IPOC | $ 13.36 | De-SPAC -> Clover Health Investments, Corp.
IPOE | $ 18.87 | De-SPAC -> Social Finance, Inc.
IPOD | $ 10.37 | Pre-Deal
IPOF | $ 10.20 | Pre-Deal
ACTC | $ 17.18 | De-SPAC -> Proterra Inc
RAAC | $ 9.99 | Announced -> Berkshire Grey
RMGB | $ 9.98 | Announced -> ReNew Power Private Limited
SPRQ | $ 9.99 | Announced -> Sunlight Financial LLC
TSIA | $ 12.70 | De-SPAC -> Latch, Inc.
For a time Chamath was the face of SPACs and, as a result, the narrative surrounding him has ebbed and flowed as the overall SPAC narrative has. Given the latest move to a more positive narrative and the performance, as noted above, of his SPAC investments, don't expect the pitchforks to come for him again for a bit.
For some of the history, see our previous posts:
- Chamath Files 4 New Biotech SPACs
- Pitchforks out for Chamath and SPACs
- Chamath Defends His SPAC Record Following CLOV Short Squeeze
- Do Chamath's SPACs Make Money? All About the Entry Point
More from Boardroom Alpha
More from Boardroom AlphaMore from Boardroom Alpha For ongoing tracking, analytics, and data on SPACs checkout Boardroom Alpha's SPAC Data and Analytics service.
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(Disclaimers: this is not investment advice. The author may be long one or more stocks mentioned in this report.)