Wild SPAC deal-hounds howl at moonshots

Plus Automation, which develops software for autonomous trucks, said on September 3 that it agreed to merge with Texas Ventures Acquisition III, a special-purpose acquisition company, at an $800 million equity value before the injection of new money.

Separately, Three Lions Acquistion said on September 2 that it closed its initial public offering, generating $100 million of proceeds. The SPAC intends to target businesses in sports, hospitality, leisure and real estate.

NEW YORK, Sept. 11 (Reuters Breakingviews) - Shell companies abound again, accounting for 62% of US market debuts this year. The $28 bln raised also amounts to more than traditional IPOs in hotspots like Hong Kong and Shanghai. Ambitious tech takeover targets make them riskier investments than even SpaceX or Anthropic.

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