Investors Pour Nearly $3B Into Cannabis SPACs as Deadlines Loom

To stave off disaster, newly listed startups are turning to an equity line of credit, or ELOC, which grants them the right — but not the obligation — to sell additional shares to a financial investor in return for hard cash.

Social Capital Hedosophia – the investment firm run by Palihapitiya and his partner Ian Osborne – is eyeing a (US)$1 billion London listing for a company focused on fighting climate change.

YieldStreet, the online firm that offers esoteric investments to the affluent, is exploring options including a sale, while also weighing setting up a SPAC of its own, Bloomberg reports.

Qell Acquisition shareholders approved the business combination with Lilium in September last year, although the SPAC posted redemptions of 65%.