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
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.READ
SPACs 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.READ
Space 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.READ