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.
READ
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...
Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....