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thats back mania reached a fever pitch towards the end of 2020.
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But there's one deal in 2021 that is going to help these alternative AIPO mechanisms turn a new leaf Boutique investment bank Perella Weinberg is going to lose shares by merging with the special purpose acquisition company, and the deal actually looks pretty reasonable.
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Specs have enabled all kinds of speculative companies to go public.
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Some, like Nikola and Blade and Arrival, which are all in the Elektronik vehicle transportation business, have wild projections and in some cases, no established history of revenue.
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Even Perella Weinberg only has a track record of solid financial statements.
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It operates in a really and established business of merger advisory.
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It has come in behind many of its boutique investment banking peers in recent years in the very closely watched Wall Street league tables.
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But a public currency in the cash it's getting from the transaction could really help it hire more competitive investment bankers and move on up the valuation.
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Speaking of close to a billion dollars is in crazy, either based on its multiples compared to peers and as a season adviser.