Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Polestar in talks to merge with Gores Guggenheim while Equinox breaks off merger with Palihapitiya-backed SPAC
Volvo-Backed Polestar Is in SPAC Merger Talks With Gores Guggenheim
Electric-car maker Polestar, which is controlled by Volvo Car AB and its owner Zhejiang Geely Holding Group Co., is in talks to go public through a merger with blank-check firm Gores Guggenheim Inc. Gores Guggenheim rose as much as 7.7% on the news.
A transaction may value the combined company at around $25 billion, according to Bloomberg.
READEquinox’s Merger Talks With Palihapitiya-Backed SPAC Have Ended
Luxury gym operator Equinox Holdings is no longer in talks to go public through a merger with a blank-check company backed by investor Chamath Palihapitiya.
Negotiations between Social Capital Hedosophia Holdings Corp. VI and Equinox fell apart due to a disagreement over the combined company’s valuation.
Bloomberg News in May reported the two parties were in discussions regarding a transaction that may have valued the merged entity at more than $7.5 billion.
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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...