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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Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...