Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Vista Global mulls SPAC merger, Solid Power in talks to merge with Decarbonization, and Vertical Aerospace nears deal with Broadstone while Palihapitiya gives retail traders IPO access
Private Jet Operator Vista Global Holds SPAC Merger Talks
Private aviation provider Vista Global Holding Ltd. is in talks to go public through a merger with a SPAC, people familiar with the matter told Bloomberg.
A transaction could value Vista at more than $10 billion including debt, said the people.
READFord-Backed Solid Power Said in Talks With Decarbonization SPAC
Solid Power, a maker of solid-state batteries that counts Ford Motor Co. and BMW AG among its investors, is in talks to go public through a merger with Decarbonization Plus Acquisition Corp. III, people with knowledge of the matter told Bloomberg.
The blank-check firm is seeking to raise more than $100 million in new equity to support a transaction that’s set to value the combined entity at about $1.2 billion, including debt.
The Decarbonization Plus SPAC is an affiliate of Riverstone Investment Group. Led by CEO Erik Anderson, it raised $350 million in a March IPO.
READFlying Taxi Start-Up Vertical Aerospace Plots $2B Osmond SPAC Merger
British flying taxi company Vertical Aerospace, which was established by Stephen Fitzpatrick five years ago, is close to sealing a $2bn deal with Broadstone Acquisition Corp. that will see it become a publicly traded company in New York.
The merger with Broadstone, which was established by the businessman Hugh Osmond, could be announced as soon as Thursday, according to Sky News.
READSingapore’s Grab Delays Merger Completion to Fourth Quarter
Singapore’s Grab Holdings Inc. postponed the expected completion of its merger with a U.S. blank-check company as the ride-hailing and food-delivery giant works on a financial audit of the past three years.
The deal, set to be one of the largest-ever mergers with a SPAC, is now expected to be completed in the fourth quarter of this year, the company said in a statement on Wednesday. When announcing the merger in April, Grab expected completion in the third quarter.
READPalihapitiya SPACs Tap SoFi to Give Retail Traders IPO Access
A group of SPACs run by venture capitalist Chamath Palihapitiya have tapped SoFi Technologies Inc. to help run their IPOs, in a bid to make the sales more accessible to retail investors.
The four blank-check companies, including Social Capital Suvretta Holdings Corp. I, II and IV, have added SoFi‘s online brokerage as an underwriter to their stock sales, according to regulatory filings published on Wednesday. The filings show that each SPAC expects to offer 5% of its Class A shares via the SoFi platform.
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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...