Kenes Rakishev is building something big with his OXUS SPAC and Battery Metals Tech IPOs. Experienced and well informed analytics suggest that it may be a disruptor for the whole market.
Larry Ramer, a veteran financial journalist writing for NASDAQ.com turned attention to Oxus SPAC company. This special acquisition company has made an IPO on NASDAQ exchange. Kenes Rakishev, an entrepreneur from Kazakhstan is behind the Oxus. The IPO was highly successful, but until now nobody really knows what is the target for the acquisition. Larry Ramer in his piece, ‘4 Pre-Merger SPACs to Buy That Are Poised to Soar guesses that StoreDot, an Israeli battery innovative startup company may be a potential target for Kenes Rakishev’s OXUS.
Kenes Rakishev’s OXUS stock is the only one on this list of SPACs that hasn’t yet chosen a target. However, I [Larry Ramer -ed.] have included it [in the list of four SPACs to buy] because there are indications that the company may choose a target that will be truly disruptive.
This SPAC is focused on clean energy businesses in emerging countries. Its sponsor is Kenes Rakishev, a global investor and entrepreneur from Kazakhstan. More interesting, though, is that Rakishev is the same investor who reportedly founded Singulariteam, one of the initial investors in Israeli battery maker StoreDot.
Could StoreDot potentially be the target for Kenes Rakishev Oxus company?
There would certainly be some benefits if that is the case. For example, this Israeli company has developed an EV battery that can be recharged in only five to ten minutes. Furthermore, it is in advanced talks with multiple automakers. British Petroleum, Samsung, TDK and Daimler have all invested in StoreDot. Back in March, StoreDot was also reportedly looking to launch an initial public offering (IPO) through a SPAC.
Kenes Rakishev company has a serious backing
But the icing on the cake? Early Bird Capital – which has launched many high-profile SPAC IPOs like Tatooed Chef, Velodyne and Microvast – is an underwriter of Oxus.
So, even if Oxus does not merge with StoreDot, there’s a great chance this SPAC will find a target that greatly excites investors – especially given the combined talents of Kenes Rakishev and Early Bird.
P.S. On the date of publication, Larry Ramer held long positions in DWAC and OXUS. The article is not a financial advice.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Bengaluru Bytes journalist was involved in the writing and production of this article.