Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Companies continue to go public with SPACs: FinTech Firms Finder and Stash weigh SPACs vs. IPO Listings, Bridgetown Weighs a Fourth SPAC, And Babylon Said to be Near $3.5bn Alkuri Deal
Australian Fintech Firm Weighs SPAC and Other Options to Expand
Australian fintech firm Finder, which helps clients invest and save money, is working with an adviser on strategic options, including a sale to a blank-check company, as it seeks to expand its global footprint.
Co-founder Fred Schebesta said the company is in talks with a number of institutional and high net worth investors about buying into the business. Options include bringing in new investors to help fund an expansion in South East Asia and the U.S. ahead of a potential listing, either via an initial public offering or a deal with a SPAC.
Massive Opportunities in Europe, Says Azar
“There’s massive opportunities for SPACs in Europe,” says Makram Azar, Golden Falcon Acquisition CEO. He spoke to Francine Lacqua on “Bloomberg Surveillance Early Edition” where he mentioned just how overcrowded the U.S. market is, and that Europe is a “good place to be doing deals.”
READFintech Unicorn Stash Is Weighing Options for Going Public
Financial-technology firm Stash is exploring options for a market listing, such as merging with a SPAC or a traditional IPO, people with knowledge of the matter told Bloomberg.
“We’re extremely confident about the level of our current funding,” Krieg said, referring to Stash’s $125 million funding round in February that drew backing from Todd Boehly’s Eldridge Industries, Owl Ventures and funds advised by T. Rowe Price Group Inc., among others, at a $1.4 billion valuation. LendingTree Inc. is among Stash’s earlier investors investors.
Richard Li In Talks to Raise Funds For His Fourth Bridgetown SPAC as Asian Investors Keep Piling Into Blank Check Companies
Hong Kong billionaire Richard Li Tzar-Kai is in the early stages of setting up his fourth SPAC in collaboration with billionaire Peter Thiel.
The talks for Li’s latest SPAC are in very preliminary stages and there is no fundraising target set. Under the Bridgetown Holding brand, Li has raised more than US$1 billion from three SPACs over eight months.
READWeb Doctor Babylon Is Said to Near $3.5 Billion Alkuri Deal
Babylon, the medical startup that connects patients and doctors via an app, is close to agreeing a deal to go public in a merger with blank-check company Alkuri Global Acquisition Corp., people familiar with the matter told Bloomberg.
Talks between Babylon and Alkuri, which is run by former Groupon Inc. executives, are in the advanced stages and a deal could be announced as soon as next week, the people said, asking not to be identified discussing confidential information.
The deal could value Babylon at approximately $3.5 billion. Alkuri has lined up investors to provide about $270 million of PIPE.
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At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...
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...