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.
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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...