Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Singapore’s Carousell is considering a U.S. listing via SPAC, Asian investors remain hot on SPACs, and NYSE’s President calls for transparency
Singapore’s Carousell Explores U.S. Listing Via SPAC
Singapore’s online marketplace operator Carousell Pte is considering a U.S. listing via a merger with a blank-check company, according to Bloomberg.
The startup is working with an adviser on the potential transaction that could value the company at as much as $1.5 billion.
READAsian Investors And Targets Remain Hot On SPACs, As Fundraising By Blank Check Companies Cool
Asian investors and target companies in the region remain keen on SPACs, with more than a dozen blank check companies with ties to Asia seeking to go public in the United States in the past two months alone.
The fundraising push by Asian sponsors comes even as fatigue is setting in among some institutional investors and the US SEC raised questions in April about the accounting for stock warrants common to most SPAC deals, effectively pouring cold water on what has been one of the hottest fundraising trends in the past two years.
NYSE’s Cunningham Sees Heightened Scrutiny of SPACs on Horizon
New York Stock Exchange President Stacey Cunningham said SPACs can expect increased regulation and calls for transparency amid heightened scrutiny from the U.S. Securities and Exchange Commission.
“It makes a lot of sense for the SEC to look at whether or not there are additional protections and additional disclosures that might be appropriate in this market,” Cunningham said in a Bloomberg Television interview. “It’s going to be really important that SPACs are providing information and transparency into how they’re structured so investors have that visibility.”
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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...
At the SPAC of Dawn As April’s sleepy month for SPAC news continues, there is only one special meeting on the docket to consider a SPAC deal approval, that being today’s vote on Pegasus Digital Mobility‘s (NYSE:PGSS) combination with equipment manufacturer Schmid. Three more SPACs are facing extension votes this week, including Pyrophyte (NYSE:PHYT), whose...
Terms Tracker for the Week Ending April 19, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Passover and school spring break starts next week, which most likely means a slowdown in SPAC filing activity. Although Churchill IX is now rumored to...
Despite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...
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...