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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Pelican Acquisition Corporation (NASDAQ:PELIU) has filed for a $75 million SPAC to find a technology target as its team builds on ties to a pair of other recent deals. This new SPAC is not over-funded and has one right to a 1/10 share in each unit, but it will only have 15 months to initially...
International Media Acquisition Corp. (OTC:IMAQ) has entered into a definitive agreement to combine with energy firm VCI Biofuels Group at an enterprise value of $1 billion. Vietnam-based VCI aims to develop a production hub for sustainable aviation fuel for the Asian market. The combined company is expected to trade on the Nasdaq once the deal...
At the SPAC of Dawn The Trump administration’s midday decision yesterday to do a sudden pause on most of its tariffs sent markets skyrocketing and allowed many de-SPACs to retrieve significant ground lost since the beginning of the year. The biggest gainer on the session was Israeli cybersecurity firm HUB Cyber Security (NASDAQ:HUBC), which also...
Twelve Seas Investment Company III (NASDAQ:TWLVU) has filed for a $150 million IPO to hunt specifically for an international target at a time when markets have been roiled by an ever-shifting trade war. Such a bet could open up interesting opportunities as the highest performing de-SPAC to close since the US presidential elections has been...
At the SPAC of Dawn Amid the present market volatility, companies have been doing their best to hang on. But, for companies that just closed their de-SPAC transactions, the combination of the present headwinds and the usual post-close share turnover has been a mighty storm indeed. The 21 companies that have closed deals since the...