In recent months, there have been plenty of SPAC (special purpose acquisition company) mergers and these companies have also seen their stocks soar due to heightened interest from investors.
The latest SPAC that could be in focus today is that of NewHold Investment Corp (NASDAQ: NHIC), which is all set to complete a merger with Evolv Technology. Following the potential merger, the new entity is going to be valued at as high as $1.7 billion, and naturally, there is expected to be considerable interest in the NewHold stock.
Evolv is involved in the crowd safety space and has the backing of Bill Gates as well as Jeb Bush, the former Governor of Florida. As per reports, Evolv is known for deploying artificial intelligence in order to screen people and identify potential threats. By way of the merger, the company is expected to bring in proceeds of as big as $470 million. Investors could consider keeping an eye out for any announcement today.