Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Vinod Khosla says SPACs are a great alternative for tech, and Apollo’s Rowan believes the SPAC ecosystem is here to stay, while Fed’s Powell says it makes the market feel ‘frothy’
SPACs Are Great Alternative for Tech: Vinod Khosla
Khosla Ventures co-founder Vinod Khosla discusses the continuing popularity of tech companies deciding to go public via SPACs including Berkshire Grey, warehouse automation company and Khosla Ventures investment recipient.
“If you look at the biotech industry, they’ve been able to do IPOs 5-10 years before first revenue. They need to project into the future, explain their future and IPOs have been available to do that. There’s many more areas of technology that fit the same model, and for them, SPACs may be a great alternative,” Khosla said in an interview with Bloomberg Technology.
READThe SPAC Ecosystem Is Here To Stay: Apollo’s Rowan
Apollo Global Management Inc. co-founder and newly minted CEO Marc Rowan talks about how Wall Street is changing and the future of SPACs.
“I think the SPAC ecosystem is here to stay,” says Apollo’s Rowan. “We have been beneficiaries of the SPAC ecosystem, we view it simply as an extension of growth investing.”
He spoke to Bloomberg’s Jason Kelly in a wide-ranging interview for Bloomberg Live’s Invest Talks series.
READBitcoin, SPACs Make Market Feel ‘Frothy,’ Fed’s Powell Says
Federal Reserve Chair Jerome Powell comments on the state of financial markets during testimony before the U.S. Senate Committee on Banking, Housing, and Urban Affairs.
“SPACs are getting done, bitcoin is going up in value and down in value so at times its felt like a somewhat frothy market, and you do worry about that,” said Powell.
READSoftBank Unit to Invest in Thiel-Backed Crypto Exchange Bullish
A unit of SoftBank Group Corp. agreed to invest $75 million in Bullish, the sponsor of a not-yet-operational cryptocurrency exchange, as the startup prepares to go public through a merger with a SPAC, according to Bloomberg.
SB Northstar LP will acquire 7.5 million Bullish shares for $10 each at the time it combines with Far Peak Acquisition Corp., according to documents filed July 9 with the U.S. Securities and Exchange Commission. It will also buy 3 million warrants to purchase shares of Far Peak, the SPAC taking Bullish public.
The SoftBank unit made the commitment through a $300 million private offering that Bullish held last week, according to the filings, though it was not identified in a subsequent release as one of the buyers.
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K&F Growth Acquisition Corp. II (NASDAQ:KFIIU) announced the pricing of its $250 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “KFIIU”, Wednesday, February 5, 2025. The new SPAC intends to combine with a target company in the experiential entertainment industry underpinned by strong secular growth, a skilled...
Rithm Acquisition Corp. (NYSE:RAC.U) has filed for a $200 million SPAC with a loaded room of underwriters to hunt down a target in financial services or real estate. The Rithm team has driven aggressive terms for the sponsor’s first SPAC with the help of a deep-pocketed backer and the trio of Citigroup, BTIG and USB...
At the SPAC of Dawn With the North American tariff threats set aside for now, there’s still plenty of momentum for the sorts of investments that might be able to dodge such trade disputes, or become more valuable should trade barriers arise. Among the clearest examples of these are producers of critical materials like rare...
In January 2025, SPAC teams continued extending beyond their third round, with one SPAC notably reaching its seventh extension vote as they searched for suitable deals. The month saw five announcements, marking the highest level in recent months, while only four SPACs held completion votes. Extension Votes In January, 14 extension votes were scheduled, representing...
At the SPAC of Dawn February is set to start with the jolt of a new potential trade war in North America. While some observers had expected tough trade action on China, the incoming administration’s decision to begin with 25% tariffs on the US’ biggest trading partners and neighbors, Mexico and Canada, and tariffs of...