Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Shuaa confirms talks to set up three SPACs, EV startup E.GO and Goldman-backed Echelon Fitness both explore listing options, and former BP CEO plans to list Energy Transition SPAC
Dubai’s Shuaa Confirms Talks to Set Up Three SPACs; Shares Surge
Shuaa Capital PSC said it is in early talks with investment banks to set up three SPACs, confirming a Bloomberg News report from last week.
The Dubai-based financial services firm surged 15% on Sunday, with volumes soaring to 170 times the daily average of traded shares. The stock pared gains to trade up 6% at 10:15 a.m. in Dubai.
Bloomberg reported last week Shuaa, which manages close to $14 billion in assets, had approached banks to set up three SPACs of around $200 million each to pursue deals in the energy, finance, and technology sectors.
READGerman EV Startup E.GO Weighs Listing Options Including SPAC
German EV hopeful Next.e.GO Mobile SE is in talks to go public through a SPAC or an IPO that could value the manufacturer of compact cars for shorter trips at as much as 2 billion euros ($2.4 billion), according to Bloomberg.
The company, saved from insolvency last year, may go through with the plan within the next 12 months, Chairman Ali Vezvaei said in an interview.
Goldman-Backed Echelon Fitness Is Exploring Strategic Options
Workout equipment maker Echelon Fitness Multimedia LLC is exploring strategic alternatives that could value the company at more than $1 billion.
The company tapped an adviser after receiving interest from prospective investors, and is considering options including raising at least $100 million in fresh funding, a sale or a public listing through a merger with a SPAC.
READFormer BP CEO Plans to List Energy Transition SPAC, Sky Reports
Former BP CEO Tony Hayward is in advanced talks to list SPAC Energy Transition Partners on the Euronext Amsterdam, Sky News reported Saturday.
The company is looking to raise 175 million euros ($208 million) and has hired JPMorgan Chase & Co. to work on the offering, Sky said. An announcement could be published as soon as next week.
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McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...
Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....