The Israeli company Spacing Moringa completed a $ 100 million fundraiser in the United States tonight (Tuesday), and will begin trading tonight on the US NASDAQ stock exchange under the symbol MACAU.
Read more in Calcalist
Moringa is led by Ilan Levin, former CEO of the 3D printing company Stratiss, and Gil Maman, former CEO of the high-tech company SimilarWeb, which is preparing for an IPO on Wall Street at a value of $ 2 billion. Moringa intends to take advantage of Moringa. It tied up with the local technology ecosystem to integrate high-tech company activity into it at relatively advanced stages.The underwriters of the offering were EarlyBirdCapital and Moelis.
This is the completion of a second Israeli company, after the first ION group of Jonathan Kolber, which raised $ 250 million in October and recently signed a merger with the Israeli Internet company Tabula at a value of $ 2.5 billion. These days, another ION Group’s Spock is expected to raise money and raise a similar amount of about $ 250 million.
Spock companies (wallet companies) are a kind of stock market skeletons, which raise money for the purpose of acquiring or merging the activities of an existing private company into content. Spock companies have a fixed time for introducing activity into the content, usually two years. If no activity is introduced at the end of the time, the company holds the money for investors.
According to SPAC insider, 145 spikes have been issued since the beginning of the year, raising a total of $ 44.5 billion. The average fundraising volume is $ 307 million, so so far the Israeli spikes have been slightly smaller than average. In contrast, as of the beginning of 2021, only 55 initial public offerings have been completed and raised a cumulative amount of $ 21.7 billion, so currently the Spacks are beating the old IPO method.