Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Argo chooses Citigroup, JPMorgan as it eyes SPAC listing, and MSP Recovery in talks with Lionheart SPAC
Ford-Backed Argo Chooses Citigroup, JPMorgan to Go Public
Self-driving startup Argo AI, which is backed by Ford Motor Co. and Volkswagen AG, is working with investment bankers as it prepares to go public as soon as this year with a valuation expected to top $7 billion.
The five-year-old firm developing autonomous systems for two of the world’s largest automakers has chosen Citigroup Inc. and JPMorgan Chase & Co. to guide its public offering. Argo and its bankers are looking at either an IPO or using a SPAC.
READPayments Recovery Firm MSP Said In Talks With Lionheart SPAC
MSP Recovery, a company that specializes in the recovery of Medicare and Medicaid secondary payments, is in talks to go public through a merger with blank-check firm Lionheart Acquisition Corp. II.
A transaction may be announced in coming weeks and could value the combined entity at more than $30 billion. MSP Recovery’s law firm affiliate may separate from its data business, which is in talks to be combined with the Lionheart SPAC.
READ
Part of the fun of the SPAC market is seeing the constantly evolving terms and approaches of teams in both securing their IPOs and their later business combinations. But, there are nonetheless a few hard rules to set the state of play among sponsors and investors, including sacrosanct deadlines for dispersing of trust funds back...
At the SPAC of Dawn Car-sharing networks had their moment in the sun as hot items in the tech scene, with some hopes that the companies could grow to the same scale as vacation rental disrupters like AirBnB (NASDAQ:ABNB). But, signs are showing that this startup category may not be ready for the public markets....
Blue Water III (NASDAQ:BLUWU) has filed for a $200 million SPAC to follow up on the healthcare-focused sponsor’s 2021 pharmaceutical deal. This new SPAC is set to have 1/2 warrants in its units with no overfunding of its trust and a solid 24 months to complete a business combination. It is the third new S-1...
At the SPAC of Dawn While yesterday brought news of better-than expected housing starts, albeit with slightly lower building permits beginning, today’s market news should include an update on jobless claims, which could be a key harbinger of the Fed’s rate cut policy. Other leading economic indicators are set to come in later in the...
CCIS Acquisition Corp (NASDAQ:CCACU) has filed for a $60 million SPAC that would bring a fresh new underwriter to the market in the smaller range of the spectrum. This is the first SPAC IPO filing by underwriter Benjamin Securities Inc. as left lead, although it served as co-manager for Plum IV‘s (NASDAQ:PLMKU) January 15 IPO...