Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Farming startup Infarm is in talks to merge with Kernel SPAC while Fusion in talks to launch new blank-check company and aims to list in London
Infarm Is in Talks to Go Public Via Merger with Kernel SPAC
Indoor farming startup Infarm is in advanced talks to go public through a merger with blank-check firm Kernel Group Holdings Inc., people with knowledge of the matter told Bloomberg.
A transaction would value the combined entity at more than $1 billion, said one of the people.
San Francisco-based Kernel, led by CEO Mark Gross, the former CEO of Supervalu, raised about $305 million in a February IPO.
READFusion SPAC Aims to Beat London Rush With New Blank-Check Firm
Fusion Acquisition Chief Executive John James is in talks to launch a new blank-check company which could soon file for a listing in London with the aim of becoming the first to take advantage of a new British SPAC regime, sources told Reuters.
James, who runs two existing SPACs – Fusion Acquisition Corp and Fusion Acquisition Corp II – is working with JPMorgan on his third Fusion investment platform.
The plan, backed by Fusion Chairman Jim Ross who spent more than two decades focused on ETFs, is the latest by a SPAC entrepreneur who has turned serial investor during the blank-check company boom.
Fusion’s listing choice of London comes as post-Brexit Britain aims to make the capital more competitive in the finance sector, with new rules expected to come in by “early summer,” according to the Financial Conduct Authority.
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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...