Just when you thought the Spac market couldn’t get any hotter, news emerges that it is now backed by its very own rap artist.
Delivering investment advice in a somewhat unorthodox form, Oakland CA-based recording artist Cassius Cuvée has released a video extolling the virtues of the sector, called Spac Dreams.
Like many of us, he reveals that he was initially unfamiliar with special purpose acquisition companies.
“I’m like, a Spac, what the hell is that?” he sings. But soon, he was very much up to speed. “If you’re in the Spac game you know what I’m talking about. We’re sick of IPOs, day one locking us out!”
Cuvée proves an engaged investor, explaining how he “slides into the DMs [direct messages] trying to do the DD – that’s due diligence!”. He favours particular sectors, stating he can “see the future is EV [electric vehicles] and also ESG… Picking Tesla over other EVs is not a surprise…respect to Mr Musk as he is a trailblazer.”
Sticking with this sector allocation, he advises that “the best type of Spac is ACTC”, presumably referring to ArcLight Clean Transition Corp’s merger with electric bus manufacturer Proterra in February.
Spacs may be the new kid on the block, but many in the market have recently felt the need to put investment advice to music.