Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
SPAC Rumors, Surveys, and Space Talk
AI Specialist BigBear Said In Merger Talks with GigCapital4 SPAC
Artificial-intelligence company BigBear.ai is in talks to go public through a merger with GigCapital4 Inc., people with knowledge of the matter told Bloomberg.
The SPAC is seeking to raise equity and convertible debt to support a deal that’s set to value the combined entity at more than $1.5 billion.
GigCapital4, led by Chairman Avi Katz and Chief Executive Officer Raluca Dinu, raised about $359 million in an February initial public offering with a focus on technology, media, telecommunications and sustainable industries.
READSPACs Continue To Be Viewed As Favorable Investment Opportunities
Katten’s 2021 SPAC Survey, which is based on the results of one poll of 80 investment professionals in March and another of 100 investment professionals in May, found that investors who participated in at least one SPAC transaction – as either sponsors, investors, advisors or underwriters – say they expect SPAC activity to increase at least through 2022.
The survey also found that SPAC transactions compare favorably to traditional IPOs because they offer a simpler process.
READSpace SPAC Shares Drop As Struggling Merger Target Momentus Does Not Expect to Fly This Year
Shares of Stable Road Acquisition Corp. fell in trading on Monday after the firm disclosed in a securities filing that its merger target, in-space transportation company Momentus, no longer plans to conduct any missions for customers this year.
The firm was the first of several SPACs which announced deals with space ventures in the past year, saying it planned to take Momentus public at a $1.2 billion valuation.
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At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...