Black Spade Acquisition Corp. announced the pricing of its $150 million IPO and its shares are expected to begin trading on the New York Stock Exchange under the symbol “BSAQ.U” Friday, July 16.
The new SPAC aims to combine with a fundamentally sound target that focuses on enabling technology, lifestyle brands, or entertainment media and owns durable IP. Black Spade is led by Chairman and Co-CEO Dennis Tam, Co-CEO Kester Ng and President and CFO Francis Ng.
Total SPAC deal count for 2021 year-to-date is now 374. This offering is expected to close on Tuesday, July 20.
Citigroup Global Markets Inc. is acting as the sole bookrunner for this offering. JonesTrading Institutional Services LLC and Loop Capital Markets LLC are acting as co-managers for this offering. Davis Polk & Wardwell LLP is serving as Issuer’s Counsel with Shearman & Sterling LLP serving as Underwriter’s Counsel. Marcum Bernstein & Pinchuk LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
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...