In a stunning entrance to 2021, a landmark deal was sealed overnight when four college seniors unknowingly had their IP and research rights acquired by famed SPAC: BDE Capital, overnight.
The four college electrical engineering students were assigned an electric vehicle concept as their senior design project with an emphasis on engineering the car’s battery to operate as efficiently and cost-effectively as possible.
“There were an unusual amount of senior design projects focused around electric cars.” said Anthony Castellano, one of the members of the fateful group who’s hard work came to a grinding halt when news of their project getting bought out came to light. “I think the most egregious part of this all is that we don’t get any proceeds from the acquisition. I spent 16 hours a day in the lab running analyses on projected power output and quantum electrochemical concepts.”
A source close to the matter believes that an adjunct professor who was sponsoring this group’s senior design project was the mastermind broker behind the deal, although, official sources have yet to confirm this.
An anonymous faculty member within the electrical engineering department says, “Dr. Patel was always kind of a whacky guy, who would teach circuits by actually electrocuting himself. Maybe all those shocks to his brain somehow rewired it and made him the lunatic he is today. I wouldn’t be surprised in the slightest if he was the broker of this deal.”
BDE Capital will ultimately receive the intellectual property rights and all of the technical data produced by the eluded senior design project. The deal was valued at $12B, and shares are expected to go public in Q2 2021, estimated to trade ~$20-$25 a share. This deal highlights quite possibly the most bizarre way to a public company’s inception, but the year is 2021 and there is always a first time for everything.