Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: PropertyGuru nears merger with Bridgetown 2, and Rover booms following lifted COVID rules
PropertyGuru Is Said to Near $1.8 Billion Merger With Thiel SPAC
Singapore’s online real estate firm PropertyGuru Pte is nearing a deal to go public through a merger with Bridgetown 2 Holdings Ltd., the blank-check company backed by billionaires Richard Li and Peter Thiel, according to Bloomberg.
A transaction could value the combined entity at about $1.8 billion and will also include a PIPE of about $100 million to $150 million, anchored by institutional investors including Australia’s REA Group Ltd.
READDog-Walking App Booms as Workers Return to the Office and Travel
A Place for Rover Inc. said its business connecting pet owners to walkers and groomers is growing rapidly, closely tracking the rebound in airline trips. It’s one of myriad of real-time indicators of which places are opening up first and also shows some changes in behavior that may stick long after the last coronavirus rules are lifted, according to Bloomberg.
To profit from the wave of “pandemic puppies” adopted during lockdowns, in February, Rover agreed to a blank-check “SPAC” deal with Nebula Caravel Acquisition Corp. that valued the platform at $1.63 billion.
READSPACs Hit the Road to Washington
SPACs now have a trade group in Washington. The SPAC Association will include investors, sponsors, investment banks, auditors and others, Politico reported on Thursday. But with too many competing interests inside the tent, the new group’s influence on the Hill could be dulled.
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Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...
M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...
At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...