Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Fintech firm Seamless, which agreed to go public at an implied $400 million valuation via a SPAC called INFINT Acquisition Corp. (NYSE:IFIN),
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Founder SPAC (NASDAQ:FOUN) announced this morning that it has entered into a forward purchase agreement (FPA) of up to $150 million to help secure its combination with Rubicon Technologies.
The parties gained approval of the deal at Founder SPAC’s special meeting August 2, but this move could reflect putting in protections in the event redemptions are higher than expected in conjunction with the completion vote.
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SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among companies manufacturing chips and other components for the modern economy. We look at why they are compelling and why each could be a fit for a blank-check merger.
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It’s one thing to negotiate with a target company, but quite another when you have to negotiate with your own team. For Anzu Special Acquisition Corp. I (NASDAQ:ANZU), which filed an 8-K this afternoon, it appears that internal disagreements in regards to strategy have resulted in the loss of their CFO, General Counsel & Secretary, Chairman of the Board, and a Director, all of which have resigned.
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Pono Capital Two priced its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “PTWOU” Friday, August 5, 2022.
The new SPAC will focus its efforts on identifying a category defining company that is leveraging technology in large, growing, or established markets led by exceptional management teams, particularly in Japan. Pono
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Nikola Corp.
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Mobiv Acquisition Corp. priced its $87 million IPO and its units are expected to begin trading on the NASDAQ under the symbol “MOBVU” Thursday, August 4, 2022.
The new SPAC will focus its efforts on acquiring a technology company that is driving its growth in the electric vehicle (“EV”) and urban “smart” mobility industry including adjacent businesses in the sustainable transportation and related ecosystem.
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This week, we speak with Anil Mathews, Founder and CEO of Near.
Near announced a $754 million combination agreement with KludeIn I Acquisition Corp (Nasdaq: INKA), in May of this year.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Forbes said on Tuesday it was exploring a sale of its business and had hired Citigroup to manage the process, months after it pulled out of a deal to go public through a SPAC.
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FAST Acquisition Corp (NYSE: FST) noted in a 10-Q this morning that it intends to liquidate its trust shortly after its August 25 transaction deadline.
As a result, FAST will now receive $26 million in a settlement from Fertitta Entertainment, which sought to terminate their combination just before close in December.
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Founder SPAC (NASDAQ:FOUN) announced that its shareholders approved its combination with digital garbage-hauling marketplace Rubicon at a special meeting August 2.
The SPAC’s initial press release did not disclose redemption figures but noted that 97% of votes cast were in favor of the deal.
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Ribbit LEAP Ltd. (NYSE:LEAP) announced late last night that it will not complete a business combination by its initial deadline of September 10, and will instead redeem all shares.
The SPAC will cease all operations on August 15 and shareholders will shortly thereafter receive $10.02 per share.
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L&F (NYSE:LNFA) announced in an 8-K filing this afternoon that its shareholders have approved its combination with cybersecurity firm ZeroFox at a special meeting held earlier today.
Quantum Fintech Acquisition Corp. (NASDAQ:QFTA), filed an 8-K this afternoon laying out a potential battle regarding their business combination with TradeStation. This is oddly reminiscent of Dune’s current battle with TradeZero, including even the selling company names.
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Alpha Capital (NASDAQ:ASPC) announced in a press release this afternoon that its shareholders have approved its combination with data software platform Semantix at a special meeting held earlier today.
The press release did not include redemption figures, but Alpha’s $93.6 million PIPE alone is sufficient to satisfy the deal’s $85 million minimum cash condition.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Israeli lidar maker Innoviz (NASDAQ:INVZ) announced Tuesday it has won a contract to supply lidar units and related software for autonomous driving to a unit of Volkswagen, in a deal worth $4 billion in sales over eight years.
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