SPACs I'll be watching in 2022: ACKIT, BLTS, QFTA

Hey guys. Just wanted to share a few SPACs I’m keeping on my radar for 2022. I’m trying to get better at identifying potential future prospects to get in on early.

ACKIT (merging with Blackstone Products)

Ackrell SPAC Partners is a SPAC that in currently planning to take Blackstone Products public. Blacktstone is a market leader in outdoor griddles with deep long term relationships with big retailers such as Walmart, Lowes, and Amazon. The company, which launched its first product – a 36-inch griddle – in 2008, says annual revenue grew 72% compounded from 2016 through 2020. It estimates $450 million of revenue for 2021 and more than $600 million in 2022.

BLTS (merging with Manscaped)

Bright Lights is a SPAC that is currently planning on taking the company Manscaped public. Manscaped, a startup specializing in men’s grooming products, plans to go public through a merger that values the combined entity at about $1 billion. The company has a great relationship with retailers like Amazon, Target, and Best Buy. Manscaped generated $285 million of revenue in the 12 months through September on just $23 million of equity funding, which Mahan called an “extraordinary achievement.” It projects revenue to top $500 million in 2023. The company expects the transaction to be completed in the first quarter and that it will will be listed on Nasdaq under the ticker symbol MANS.

QFTA (merging with Tradestation)

Quantum Fintech Acquisition is a SPAC that plans on taking the broker Tradestation public. Offering online brokerage and investment education, TradeStation has more than 145,000 accounts, as of March 31. TradeStation has more than $10 billion in customer assets through their brokerage. The company offers trading of stocks, ETFs, options, futures and cryptocurrency. Tradestation has also recently made available a crypto IRA to their platform. TradeStation had revenue of $189 million in fiscal 2020. The company is guiding for fiscal 2021 revenue to hit $219 million. The company sees revenue growing at a compounded annual growth rate of 33% from fiscal 2021 to fiscal 2024 with estimates of $219 million and $349 million for 2022 and 2023 respectively. Tradestation looks to have decent future growth, and with this merger news some media outlets are already comparing it to the Robinhood IPO.

Again, these are just SPACs I’m watching for the new year. This is not financial advice. Please do your own research.