Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Ackman re-engages with target following deal for UMG stake, Syniverse in talks to merge with M3-Brigade, and Sebi to announce SPAC framework
Ackman Re-Engages With SPAC Target After Deal for UMG Stake
Bill Ackman said he has already re-engaged with a potential target for his remaining SPAC after reaching a deal to buy a 10% stake in Universal Music Group before its spinoff from Vivendi SE this year.
Ackman said he remains open to other opportunities, and may consider a majority stake or 100% ownership of a new target company after the restraints are lifted on the Remainco following the Vivendi deal.
READCarlyle-Backed Syniverse is in M3-Brigade SPAC Merger Talks
Carlyle-backed messaging company Syniverse Technologies LLC is in talks to go public through a merger with M3-Brigade Acquisition II Corp., people with knowledge of the matter told Bloomberg.
M3-Brigade is seeking new equity to support a transaction that’s set to value Tampa, Florida-based Syniverse at about $3 billion including debt.
READSebi Plans To Come Out With Framework For SPACs
Indian capital market regulator Sebi is planning to come out with a guideline on SPACs which will enable listing of startups on domestic stock exchanges. The framework is expected to be announced as soon as next week.
READLondon is Missing Out On Europe’s Record $4.4B SPAC Boom
2021 is already the best year for SPACs in Europe, and investment bankers estimate another 50 deals in the pipeline. The Wall Street boom in blank check companies is making its way across the pond, with annual records already smashed in the past three months as SPACs hit European exchanges, but the city of London has yet to be invited.
Three SPACs have listed the London Stock Exchange in 2021, with only one, the $181m tech-focused AdvancedAdvT Limited in March, raising more than $2m, according to Financial News. Meanwhile, the $485m Hedosophia European Growth SPAC and the $150m listing by Crystal Peak Acquisition chose to list in Amsterdam.
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At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...