Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Apollo heads to Amsterdam while Abu Dhabi’s Mubadala prepares to launch two SPACs
Apollo Plans Its First European SPAC IPO in Amsterdam
Apollo Global Management Inc. is planning to list a blank-check company in Amsterdam that could raise about 400 million euros ($473 million) for acquisitions.
The private equity firm is working with STJ Advisors LLP on the listing, which could take place in the coming months, according to Bloomberg. Credit Suisse Group AG and JPMorgan Chase & Co. are leading the IPO.
READAbu Dhabi Sovereign Fund Mubadala Prepares to Launch Two SPACs
Investor mania for SPACs has accelerated in the oil-rich Gulf, where Abu Dhabi sovereign fund Mubadala is poised to launch two SPACs and a Dubai-based asset manager is raising $200m to target mergers with companies in the Middle East.
Mubadala Investment Company has been talking to potential investors for two SPACs focusing on technology and healthcare, said the Financial Times. The roadshow comes as Mubadala, which had record profits and growth through 2020, reorients its core areas of investment away from petrochemicals and manufacturing towards new industries, such as technology, healthcare and infrastructure.
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At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...
Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...