Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Betsy Cohen advises investors to look for deals abroad, Zaoui brothers join Europe’s SPAC rush, and listings flow to South Korea
Betsy Cohen Says Investors Must Look Beyond U.S. for SPAC Deals
Betsy Cohen said the hottest acronym in finance ought to go global. While she doesn’t think SPAC opportunities in the U.S. have necessarily dried up, investors should be looking abroad.
“We can do SPACs that are more European-centric, Asian-centric,” said Cohen, chairman of SPAC investment firm FinTech Masala, Tuesday during a webinar hosted by the Economic Club of New York. “We have to be packing our bags — either electronically or actually.”
READZaoui Brothers Join Europe’s Blank-Check Rush With Odyssey SPAC
Investment banker brothers Michael and Yoel Zaoui have teamed up with European executives Jean Raby, Oliver Brandicourt and Michel Combes to create Odyssey Acquisition SA, a 300 million-euro, or $357 million, vehicle that will list on Euronext Amsterdam. The SPAC will invest in European healthcare and technology businesses in the region.
READAs Singapore, Hong Kong weigh SPAC rules, listings flow to the US, South Korea
The Singapore and Hong Kong exchanges are considering loosening their listing rules to attract SPACs, but most of these blank-check companies will likely still opt for exchanges in the U.S. or South Korea, according to S&P Global.
Until now, most Asia-Pacific exchanges have effectively shut out SPAC IPOs due to their strict listing requirements. South Korea is a notable exception in the region, attracting smaller South Korea-based SPACS over the past decade. Now, Singapore and Hong Kong are hoping to reverse the trend and cash in on the SPAC craze, especially in the technology sector, as both explore a framework for SPAC listings.
As of March 2021, the number of SPACs debuting on the Korean stock markets was 50% higher than in the year-ago period, noted Leon Yee, chairman of law firm Duane Morris & Selvam, and investors in the country are increasingly more willing to consider SPACs.
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Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
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...