Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Novo Tellus Capital mulls Singapore SPAC, Virala SPAC seeks to fill gap left by underfunded Finnish PE, and Dragoneer, Altimeter eye raising new funds
Novo Tellus Capital Mulls Joining Singapore SPAC Race
Singapore buyout firm Novo Tellus Capital Partners is considering setting up a SPAC to list in the city-state as regulators prepare to authorize the vehicles in the local market.
The private equity firm, which focuses on technology and industrials, has had preliminary discussions with banks.
READVirala SPAC Seeks to Fill Gap Left by Cash-Strapped PE
Finland’s first SPAC says it plays a unique role in providing especially fast access to capital, given the limited resources private-equity investors have in the Nordic nation.
Virala Acquisition Company Oyj last month raised 107.5 million euros ($127 million) from investors in an IPO in Helsinki, and now has three years to find a mid-cap company to acquire. The company intends to give its target a quick way to fund growth as a public company and avoid having to sell to an industrial buyer, typically foreign, for lack of other options.
READDragoneer, Altimeter Look to New Funds as Unicorns Burgeon
Marc Stad’s Dragoneer Investment Group and Brad Gerstner’s Altimeter Capital Management are each seeking to raise new vehicles focused on backing fast-growing technology companies.
Dragoneer is in talks to raise $2.5 billion and Altimeter has targeted $1 billion for bets on startups. The firms are looking to draw the attention of limited partners such as pension funds, sovereign wealth funds and family offices.
READMalaysia’s AirAsia Aims to Raise $300M Through U.S. Listing of Digital Business
Malaysia’s budget airline AirAsia Group Bhd is considering listing its digital arm via a SPAC in the United States to raise at least $300 million, its chief said on Wednesday.
Group Chief Executive Tony Fernandes told Reuters in an interview that a few SPACs focused on technology have approached the group, and AirAsia has engaged auditors for the deal.
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News and Rumors PR: Bannix (NASDAQ:BNIX) has provided more information on the combination with VisionWave that it announced yesterday, specifying that the imaging technology that VisionWave will acquire from GBT Technologies will primarily seek out applications in military combat scenarios and geological surveys. PR: Grove Collaborative (NYSE:GROV), which combined with Virgin Group II in June...
At the SPAC of Dawn Fed Chair Jerome Powell has given new hints that the administration would be showing greater levels of comfort with inflation if a cut could help improve unemployment numbers. Those numbers could get an update today at 8:30 am ET to bring new jobless claims as well as final prices for...
News and Rumors CNBC: Former WeWork (OTC Pink:WEWKQ) founder Adam Neumann has offered to buy back control of the company for $500 million but has yet to secure the necessary financing. WeWork went public with BowX in October 2021. PR: Satellite telecom firm Spire Global (NYSE:SPIR) has signed an agreement to build and launch two...
Bannix (NASDAQ:BNIX) has entered into a definitive agreement to combine with VisionWave Technologies for $30 million. The combined company is expected to trade on the Nasdaq once the deal is completed with an initial outside date of September 14. Transaction Overview Bannix has about $17 million in its trust after seeing 77.4% of its shares...
At the SPAC of Dawn Much of the attention yesterday was on tracking the swings of the newly-completed Trump Media (NASDAQ:DJT) deal with the FT going as far to suggest it may “make SPACs great again.” Not all of the day’s data points were on the positive side of the ledger, however. IB Acquisition Corp....