Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
SoFi starts strong, Yieldstreet and Hydrow consider going public via SPAC
SoFi Jumps 12% in Nasdaq Debut After Palihapitiya SPAC Merger
Stock-trading platform SoFi Technologies Inc. jumped 12% in its Nasdaq debut after completing its merger with investor Chamath Palihapitiya’s blank-check company last week.
The shares, which trade under the ticker SOFI, rose to $22.65 Tuesday from $20.15 Friday, when it still traded under the SPAC ticker IPOE. This compares with an all-time high of $25.78 in February.
READHydrow Said to Explore Going Public at Over $1 Billion Valuation
Hydrow, maker of a $2,245 rowing machine, is exploring strategic options such as an IPO or merging with a SPAC, people with knowledge of the matter told Bloomberg.
The Cambridge, Massachusetts-based company is targeting a valuation of more than $1 billion and working with an adviser as it weighs options that also include raising fresh funding from private equity investors to fund domestic and international growth.
Yieldstreet Raises $100M As It Mulls Going Public Via SPAC
Alternative investment platform Yieldstreet announced Tuesday that it has raised $100 million in a Series C funding round which brings it to $278.5 million in total raised since its 2015 inception. Co-founder Milind Mehere shared that Yieldstreet is considering going public via a SPAC sometime in the next year or two.
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Range Capital Acquisition Corp. (NASDAQ: RANGU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “RANGU”, Friday, December 20, 2024. The new SPAC intends to take a generalist approach in searching for a business combination, but will seek opportunities in capital constrained...
SPAC Deja Vu There’s been a lot of talk this year in the SPAC market about how it’s finally reverting back to a healthier version of deal flow and the comparison is always, “….like 2019”. In fact, in 2019, Trump was in office and there were 59 SPAC IPOs priced. As of this morning, Trump...
This year has seen a variety of innovations for SPACs to continue the lifespan beyond their traditional search windows. In general, this creativity is welcome as long as investors get their chance to have a say and a redemption opportunity at the appropriate time. But, in the second half of 2024, some SPACs have not...
At the SPAC of Dawn US market futures are green after the gut punch of news on slowing rate cuts, but there are now fresh concerns that the post-election rally may be short-lived. New clouds could be on the horizon as well in the form of a potential government shutdown as well as the implementation...
At the SPAC of Dawn As the countdown to the Fed’s 2 pm ET rate cut decision tick down, the space sector continues to be one of the main areas of SPAC activity most unblemished from the volatility ahead of the move. AST SpaceMobile (NASDAQ:ASTS) and Intuitive Machines (NASDAQ:LUNR) each finished up significantly in Tuesday...