Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Britishvolt considers London listing, Eli, Peyton Manning-backed BBQGuys in talks with Velocity, and Hong Kong’s Prenetics plans $1.3 billion SPAC merger
U.K. Electric-Car Battery Startup Now Considering London Listing
Britishvolt Ltd., which is about to start building the U.K.’s first giant battery factory, is considering listing on the London Stock Exchange to help finance the 2.6 billion-pound ($3.6 billion) project that could play a major role in helping the nation reduce carbon emissions from transportation, according to Bloomberg.
A decision on whether to list in London or New York will be made within three months, Orral Nadjari, founder and CEO of Britishvolt, said in an interview. The company was due to decide by the end of June whether to list in the U.S. through a merger with a SPAC, but it’s chosen to extend the deadline.
READEli, Peyton Manning-Backed BBQGuys in Talks With Velocity
Online grill retailer BBQGuys is in talks to go public through a merger with Velocity Acquisition Corp., according to Bloomberg.
The combined company is set to be valued at around $900 million, including debt. Unlike some other recent SPAC transactions, there will be no PIPE raised to support the deal.
READHong Kong Biotech Start-Up Prenetics Plans $1.3 Billion SPAC Merger
Hong Kong biotech company Prenetics is set to merge with Artisan Acquisition in a deal that will value the new entity at $1.3 billion or more, according to CNBC.
The transaction is expected to close by the end of this year. The SPAC is already traded on the Nasdaq under the ticker ARTAU.
READBeware of SPAC Listings, EU Market Watchdog Tells Investors
The European Securities and Markets Authority (ESMA) said that SPACs “may not be appropriate for all investors” due to risks from dilution, conflicts of interests and uncertainty as to the identification and evaluation of the target company.
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AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...
Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...