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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AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...
Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...