The Latest SPAC News and Rumors: July 9, 2021
by Marlena Haddad on 2021-07-09 at 11:30am

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.

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Equinox’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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