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Rumor says Simon SPAC (SPGS) possibly buying Kastle, a leader in office/commercial space security.

Given infrastructure bill, and fact Simon owns a ton of commercial properties, this is interesting.
More of a boring/value play, but I do note that Kastle's website at least portrays a very current/modern approach to onsite security, mentioning ability to work with Okta and other key modern software solutions.

Further thinking it thru, the country and world are about to embark on a back-to-office move. Plus likely also hybrid/partnership approaches to office space, which may necessitate increased identity/security for shared spaces.

If David Simon has any input on the buying price (his son, Eli, runs the SPAC) then you know the price was a good one likely.

My complete guess is that Kastle endured a tough/rough stretch due to covid, and while they can see the light of ReOpening in front of them, perhaps they are more open to going public and getting access to funds to expand operations, etc etc...

This may all be a bad rumor, but I liked the Simon SPAC previously as a "better than cash" option to park some money. Have bought a small amount now, and as news progresses, may decide to buy more. Stock may pop on news and I decide not to chase, but I also think Simon is more under the radar of most growth/momo/meme retail that perhaps any pop is more muted. We will see.

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