SPAC Frenzy Worries Some Wall Street Investors: Report

The vehicle has been a specific target of entities in the media industry but there seems to still be caution around its viability.

The latest data from BNEF shows 13 EV-related SPACs that have been completed, and 14 more pending expected acquisitions in the second half of 2021. This includes companies involved not just in making vehicles themselves, but also in the EV battery supply chain and charging infrastructure.

The proposed transaction, valued at nearly $3 billion including debt, would leave existing shareholders—including TPG, Walt Disney Co. , A&E Networks Group, merchant bank Raine Group and founder Shane Smith—with a combined 75 percent ownership of the company.

DoubleDragon said it targets for Hotel101 to reach a valuation of up to $17 billion in the near term based on the hotel operator's internal financial projections, but gave no more details.