Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: New rules for China’s tech companies threatens SPAC deals, and Li-Cycle partners with Univar Solutions OnSite Services
New Listing Rules For China’s Tech Companies Could ‘Dampen’ Appetite For SPAC Deals
A new slate of draft rules announced last week by the Cyberspace Administration of China (CAC) threatens to slow the rate of US listings by Chinese tech companies – and attractiveness of those companies to American investors.
It is early days, but it is possible the new regulations could weigh on acquisitions of Chinese companies by blank-check companies, according to Kristin Zimmerman, who heads Morgan Stanley’s SPAC M&A practice in New York.
Under the draft rules, the CAC, China’s top cybersecurity regulator, would review any foreign listings by technology platform companies that possess the data of at least 1 million users.
Li-Cycle Announces Partnership with Univar Solutions OnSite Services
Lithium-ion battery recycler Li-Cycle Corp. today announced a partnership with waste management leader Univar Solutions OnSite Services to provide waste management solutions for lithium-ion batteries.
Through the partnership, Li-Cycle and Univar Solutions customers will now benefit from a waste management solution for lithium-ion battery waste across multiple manufacturing verticals, including the growing North American electric vehicle manufacturing market.
Li-Cycle initially announced its business combination with Peridot on February 16.READ