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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Terms Tracker for the Week Ending March 14, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Once again, market volatility was the headline news this week, and while that doesn’t directly affect SPACs, it has some effect. For investors, it’s usually...
At the SPAC of Dawn The first wave of proposed SEC rules changes under the Trump administration touch upon SPACs in some unexpected ways and could portend at least a few years of peace between sponsors and their chief regulator. Earlier this month, the SEC announced that its Division of Corporation Finance would expand the...
At the SPAC of Dawn Following Wednesday’s positive CPI readings, the market is set to ingest both new jobless claims and Core PPI inflation numbers at 8:30 am ET. It might take a particularly rosy result to offset the many factors of market volatility recent. One new one got added to the bingo card this...
One of the eternal questions surrounding SPACs has been their ability or inability to match the opportunity and the performance of the traditional IPO route, and it has become received wisdom on Wall Street that SPACs don’t match up. This is ostensibly born out in in the aggregate statistics that are frequently cited. But, downside...
At the SPAC of Dawn Despite the specter of recession looming, many of the hot technology sectors that SPACs favored during the boom times appear to be coming back on the menu. Ares II (NYSE:AACT) is reportedly angling to lock down a deal with an autonomous trucking firm. Northern Genesis II and Reinvent Y each...