Social content platform OnlyFans has reportedly engaged in talks with multiple SPACs, but has so far failed to seal the deal, according to a report in Axios.
The influencer platform, which is known primarily for hosting explicit sexual content, projected it could swell its income to $1.2 billion in 2021 and $2.5 billion in a March 2021 pitch deck reportedly obtained by the news service.
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Poema Global (NASDAQ:PPGH) announced this morning that it expects to close its combination with two-wheeled EV battery charging network Gogoro on April 1, following a shareholder vote at 9:30 am ET tomorrow.
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This week, we speak with two leaders in the field of D&O insurance – Mach Millet, who is Managing Director and Marsh’s SPAC Practice Leader, as well as Andrew Pendergast, SPAC Practice Leader at NFP.
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Queen’s Gambit (NASDAQ:GMBT) announced its redemption results in connection with its business combination with mobility tech firm Swvl ahead of its shareholder vote tomorrow.
The SPAC saw 29,227,806 shares redeemed, or approximately 84.72%, for a pro rata portion of the funds in the trust account, but the shareholders have until 3:00 p.m.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Ginkgo Bioworks Holdings, Inc.
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Spring Valley (NASDAQ:SV) has added $10 million to its PIPE from investment firm SailingStone Capital Partners at $10 per share for its combination with small-scale nuclear fission reactor-maker Nuscale.
This amount brings its total PIPE proceeds to $221, which is more than enough to fulfill the deal’s $200 million minimum cash condition, adding to Spring Valley’s roughly $232 million in trust before redemptions.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Swvl, a global provider of transformative tech-enabled mass transit solutions, and Moove, the world’s first mobility fintech, today announced that they have entered into a partnership to scale Moove’s revenue-based vehicle financing model across the MENAP (Middle East, North Africa, and Pakistan) region, as well as expand vehicle classes to include electric buses.
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FirstMark Horizon (NASDAQ:AMAO) announced this morning that it is working to close its combination with internet service provider Starry, but has made significant changes to the deal.
Shareholders voted to approve the transaction two weeks ago on March 16, but most likely redemptions and a decision that the post-transaction company would hold certain levels of debt prompted a re-negotiation with PIPE investors.
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Gesher I (NASDAQ:GIAC) announced changes to its forward-purchase agreement (FPA) in an 8-K filed this morning while adding a $10 million backstop.
The SPAC listed in October 2021 with a $45 million FPA and has amended this to note that its “lead forward purchaser” is in for $40 million in units at $10 per unit, but it is unclear if this is a change in the total amount of the FPA.
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American Acquisition Opportunity Inc. (NASDAQ:AMAO) announced redemption results this afternoon as well as its new forward purchase agreement with certain accredited investors.
On Monday, March 21, AMAO held a special meeting to vote on three proposals after adjourning its meeting held on March 18.
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Highland Transcend Partners I Corp. (NYSE:HTPA) announced this afternoon that it has mutually terminated its combination with ecommerce service provider Packable.
As with other recent terminations, the parties cited “current unfavorable market conditions” as the cause of the breakup.
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Gores Guggenheim (NASDAQ:GGPI) has added $27.2 million more to its PIPE for its deal with Swedish electric vehicle-maker (EV) Polestar.
As background, Gores Guggenheim arranged a $136 million new PIPE for the deal in December of 2021.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Momentus Inc.
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Emerging Markets Horizon Corp. (NASDAQ:HORI) has announced management changes to avoid being caught up in the sanctions against Russia.
The SPAC had formerly been partially sponsored by VTB Bank, one of several Russian banks sanctioned by the US and others.
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SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among companies set to see increased demand among companies standing to benefit in a new US-UK trade deal.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Polestar, the premium electric performance car maker, today announced inbound availability of the all-electric Polestar 2 Long range Single motor fastback in the United States.
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