BLANK CHECKS BOFFO BANKING ON B’S (You’re welcome, New York Post.)

The deal with 890 5th Avenue Partners Inc.—a blank-check company named after the headquarters of Marvel’s Avengers superheroes and founded by investor Adam Rothstein—is expected to close by the end of the year, BuzzFeed said…. BuzzFeed said the combined company would be valued at some $1.5 billion, roughly the same level as in 2015….

Bowlero Corp., an operator of bowling centers that sometimes include full-service bars and arcade games, is in talks to go public through a merger with blank-check firm Isos Acquisition Corp.... Isos is in discussions to raise new equity to support a transaction that’s set to value the combined entity at about $2.6 billion, said the people.

Bullish, a cryptocurrency exchange backed by a group of billionaires, is in talks to merge with special purpose acquisition company Far Peak Acquisition Corp.... The blank-check company is discussing a deal that could value Bullish at as much as $12 billion…

Bullish was launched in May by Block.one, a blockchain software company backed by billionaire Peter Thiel and hedge fund managers Alan Howard and Louis Bacon.

Not that Thiel needs it.

Over the last 20 years, Thiel has quietly turned his Roth IRA — a humdrum retirement vehicle intended to spur Americans to save for their golden years — into a gargantuan tax-exempt piggy bank, confidential Internal Revenue Service data shows. Using stock deals unavailable to most people, Thiel has taken a retirement account worth less than $2,000 in 1999 and spun it into a $5 billion windfall.

BuzzFeed Reaches Deal to Go Public Via SPAC, Acquire Complex Networks [WSJ]
Bowlero in Merger Talks With SPAC Led by Ex-WWE Executives [Bloomberg]
Thiel-Backed Crypto Exchange Bullish Is in SPAC Merger Talks [Bloomberg]
Lord of the Roths: How Tech Mogul Peter Thiel Turned a Retirement Account for the Middle Class Into a $5 Billion Tax-Free Piggy Bank [ProPublica]

For more of the latest in litigation, regulation, deals and financial services trends, sign up for Finance Docket, a partnership between Breaking Media publications Above the Law and Dealbreaker.

Related

ourobouros

SPAC To Merge With SPAC That Merged With Spinoff From Company The First SPAC Is Merging With

This may be the first SPAC to essentially merge with itself, but it will most assuredly not be the last.

Harui Lee, CC BY-SA 4.0 , via Wikimedia Commons

Rubberneckers Looking Non-Existent Truck Pileup That Was Last Major Electric Vehicle SPAC Deal Not Slowing Down

There’s no time to check whether your dancer partner’s been drinking before getting in the car with him at this SPAC party.

ourobouros

Behold: The Most Incestuous SPAC Deal Yet

We move a step closer to the inevitable SPAC merging with itself.

Getty Images

Too Big To SPAC

The SPAC is dead! Long live the SPARC!