Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: SEC focuses on bank fee conflicts with SPACs, Policygenius in talks to merge with PWP Forward, and Temasek says some of its portfolio companies are looking at SPAC mergers
U.S. SEC Focuses on Bank Fee Conflicts As It Steps Up SPAC Inquiry
The U.S. securities regulator has ramped-up its inquiry on Wall Street’s blank check acquisition frenzy, homing in on potential conflicts of interest created when banks act as underwriters and advisers on the same deal, three people with direct knowledge of the matter told Reuters.
The SEC is exploring whether certain fee structures may incentivize underwriters on SPAC listings to secure unsuitable deals when also advising on the later stage merger, potentially putting investors at risk.
READPolicygenius Is in Talks To Go Public Via Perella Forward SPAC
Online insurance marketplace Policygenius Inc. is in talks to go public through a merger with the blank-check company PWP Forward Acquisition Corp. I (Nasdaq:FRW), according to Bloomberg.
A valuation for the transaction hasn’t yet been finalized.
READTemasek Says Some Of Its Portfolio Companies Are Looking At SPAC Mergers
Singapore state investment firm Temasek Holdings says it has observed a heightened interest among Southeast Asian companies to list via a SPAC, adding that some of its portfolio firms are looking to take advantage of the option.
READ
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...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...