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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At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...