Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Missouri Cobalt hires Goldman to go public through SPAC, WeWork’s occupancy increased in May, Zoomcar eyes listing via SPAC, and Amazon in talks to buy 20% of Plus
U.S. Nickel-Cobalt Miner Missouri Cobalt Hires Bank To Go Public Through SPAC
U.S.-based nickel-cobalt miner Missouri Cobalt, LLC has hired Goldman Sachs to assess options, including a public listing through a blank-check company in a deal that could value the miner at up to $5 billion, two sources told Reuters.
A deal would underline growing interest by Wall Street in strategic minerals as President Joe Biden seeks to cut U.S. reliance on industry leader China for electric vehicle materials.
READWeWork Offers Business Update Showing Occupancy Improved in May
Office-sharing company WeWork, which had a spectacular failed IPO attempt in 2019 and is now planning to hit public markets via a merger with a SPAC, offered a business update on Monday and said total occupancy stood at 53% as of May, up three percentage points from March.
READSequoia-backed Zoomcar Eyes U.S. Listing Via SPAC
Zoomcar Inc. is considering a listing in the U.S. within the next 12 months to tap markets beyond its home base of India and as coronavirus-related health concerns bolster demand for car rental.
“There’s a lot of momentum in the public markets for this type of story,” Zoomcar co-founder and CEO Greg Moran said in an interview on Friday, adding that a listing via a SPAC was also a possibility.
READAmazon Is in Talks To Buy Stake in AI Truck-Driving Startup Plus
Amazon.com Inc. has placed an order for 1,000 autonomous driving systems from self-driving truck technology startup Plus and is in talks to buy a stake of as much as 20%, a person familiar with the matter told Bloomberg.
The deal would give Amazon the right to buy preferred shares of Plus via a warrant at a price of $0.46647 per share, the person said. That would amount to a 20% stake based on Plus’s shares outstanding before its planned merger with SPAC Hennessy Capital Investment Corp. V.
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Terms Tracker for the Week Ending December 20, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. * We will be skipping next week’s Terms Tracker post while we work on putting together our “2024 Year End Review”. You can find 2023’s...
Four Leaf Acquisition Corporation (NASDAQ:FORL) has entered into a definitive agreement to combine with Chinese technology firm Xiaoyu Dida for undisclosed terms. The Guangzhou, China-based firm produces software and hardware for smart car washing systems. The parties have set December 31, 2025 as the initial outside date and the combined company is expected to trade...
At the SPAC of Dawn SPACs are back on the board with a new deal announcement, which is the first in a little over two weeks. This brings the fourth quarter count on fresh deals to a still-meager nine after 27 were announced in the third quarter. By contrast, this quarter has still seen more...
Range Capital Acquisition Corp. (NASDAQ: RANGU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “RANGU”, Friday, December 20, 2024. The new SPAC intends to take a generalist approach in searching for a business combination, but will seek opportunities in capital constrained...
SPAC Deja Vu There’s been a lot of talk this year in the SPAC market about how it’s finally reverting back to a healthier version of deal flow and the comparison is always, “….like 2019”. In fact, in 2019, Trump was in office and there were 59 SPAC IPOs priced. As of this morning, Trump...