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Illustration: Sarah Grillo/Axios

Jeffrey Housenbold, who recently stepped down as a managing partner of SoftBank Vision Fund, has formed a new SPAC with Sukhinder Singh Cassidy, who was president of ticket resale firm StubHub until it was acquired last year by Viagogo.

Why it matters: The death of SPACs has been greatly exaggerated.

  • Yes, there has been a slowdown in new issuance. But most of that is due to new SEC guidance and service providers working through the paper backlog. There have been several SPAC mergers announced this week.

Details: This new one is called LTV Capital Partners, and seeks to raise $215 million via an IPO. The plan is to seek out a tech company to buy, while the pitch is that both Housenbold (ex-CEO of Shutterfly) and Cassidy have operating experience, not just financial experience.

Go deeper

Tech's war for your wrist

Illustration: Sarah Grillo/Axios

Tech's biggest companies are ramping up competition for the real estate between your hand and your elbow.

The big picture: The next big hardware platform after the smartphone will likely involve devices for your eyes, your ears and your wrists.

1 hour ago - World

Tokyo Olympics to allow up to 10,000 fans at each event

Tokyo 2020 president Seiko Hashimoto (L) and IOC President Thomas Bach on Monday. Photo: Rodrigo Reyes Marin/POOL/AFP via Getty Images

Organizers of the Tokyo Olympics said Monday that venues can be filled up to 50% capacity when the Games kick off on July 23, with a maximum of 10,000 Japanese spectators at each event, AP reports.

Why it matters: Medical experts advising the Japanese government had recommended against allowing fans, citing the low vaccination rates in Japan and the potential for new variants to drive up infections.

1 hour ago - Health

The psychology behind COVID-19 vaccine lotteries

Illustration: Aïda Amer/Axios

NBA season tickets. Scholarships. A chance at $5 million. The list of lotteries and raffles states are launching to drive up COVID-19 vaccination rates is growing, and some local officials are already reporting "encouraging" results.

Driving the news: The reason why, some psychologists and public health experts say, is that the allure of lotteries for many people is simply that the prospect of winning a great prize seems better than passing up the chance, regardless of the odds.

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