Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Branson’s Virgin Orbit plots deal with NextGen SPAC, Amazon business acquirer Thrasio in talks to merge with SPAC Churchill V, and Cano Health acquires University Health Care following SPAC deal
Branson Plots $3Bn SPAC Merger To Launch Virgin Orbit To Stock Market
Sky News revealed that Virgin Orbit is close to finalizing a deal to combine with NextGen Acquisition II, a SPAC set up by former Goldman Sachs banker George Mattson.
Sources told Sky News this weekend that NextGen II was in exclusive talks with Sir Richard’s Low Earth Orbit satellite business, which is 80%-owned by the tycoon’s Virgin Group empire. The Abu Dhabi sovereign fund Mubadala owns the remaining 20% of Virgin Orbit’s shares.
A definitive deal valuing Virgin Orbit at approximately $3bn, or £2.1bn, could be announced in the coming weeks, according to insiders.
READThrasio Is in Talks to Go Public Via Michael Klein SPAC
Thrasio, an acquirer of private-label businesses on Amazon.com Inc., is in talks to go public through a merger with a blank-check company set up by former Citigroup Inc. rainmaker Michael Klein, people with knowledge of the matter told Bloomberg.
The online retailer could be valued at approximately $2 billion, but other sources say that valuation could reach more than $10 billion in a merger with Churchill Capital Corp. V.
Thrasio raised $500 million in a senior debt facility via JPMorgan Chase & Co., Goldman Sachs Group Inc. and the asset management arm of Royal Bank of Canada in January. Prior to that, it raised $260 million in a series C funding round led by Advent International.
READSternlicht-Backed Cano Said to Near Deal for University Health
Cano Health Inc., a medical provider backed by billionaire Barry Sternlicht that recently listed on the NYSE through a SPAC, is nearing a deal to buy Miami-based University Health Care for $600 million, people familiar with the matter told Bloomberg.
The transaction includes $540 million in cash and $60 million in equity, and an agreement could be announced as soon as this week.
READVistas Media Capital Set Up $150M Fund For SPACs, Media In MENA
Singapore-based media and entertainment group Vistas Media Capital is set to launch a $150m multi-strategy fund to invest in SPACs and media businesses across the Middle East and North Africa region.
The company, which is nearing the completion of a merger deal between its SPAC and Middle-east based media streaming platform Anghami, is raising funds from global investors outside of the US. The fund will invest across the stages of a SPAC from sponsor capital to pre-IPO and IPO deals, including PIPE.
READGrab CEO Confident SPAC Deal to Close by Year-End After Delay
Grab Holdings Inc. CEO Anthony Tan said he’s confident the merger of the ride-hailing and food-delivery giant and a U.S. blank-check company will be completed by year-end, following a delay caused by a review of its financials.
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Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...
M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...
At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...