The Latest SPAC News and Rumors: July 29, 2021
by Marlena Haddad on 2021-07-29 at 11:28am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Nanosys in talks to merge with GigInternational1, blank-check firms turn to expensive sources of financing


Nanosys Is in Talks to Go Public Via GigInternational1 SPAC

Quantum-dot technology developer Nanosys Inc. is in talks to go public through a merger with blank-check firm GigInternational1 Inc., according to Bloomberg.

A transaction is set to value the combined entity at about $1 billion.

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SPACs Forced to Fund Deals With More Expensive Financing

SPACs are turning to expensive sources of financing to push their deals in a fresh sign of stress in what had been one of the hottest corners of Wall Street, according to the Financial Times.  Several companies that recently announced plans to go public through merging with a blank-check company have recently raised cash to fund the deals by issuing convertible bonds.

“The PIPE market has basically been shut so it isn’t surprising that you’re seeing these types of structures,” said a senior bank executive who works on financing for SPAC deals. “But, it’s a last resort.”

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Recent Posts
by Nicholas Alan Clayton on 2024-03-29 at 10:52am

Welsbach Technology (NASDAQ:WTMA) has signed a business combination agreement with Evolution Metals, which is developing technology to produce the critical materials and alloys in battery production. Transaction Overview Welsbach has about $23.4 million in its current trust after seeing 71.8% of shares redeemed in earlier extension votes that have pushed its deadline to June 30,...

by Nicholas Alan Clayton on 2024-03-29 at 7:38am

At the SPAC of Dawn On a day when the US markets are closed, there’s always a chance of SPAC actions sliding by as the SEC has left its EDGAR filing system open. Right on cue, Welsbach Technology (NASDAQ:WTMA) filed that it had come to a definitive agreement with battery production technology firm Evolution Metals....

by Nicholas Alan Clayton on 2024-03-28 at 1:35pm

News and Rumors PR: Bannix (NASDAQ:BNIX) has provided more information on the combination with VisionWave that it announced yesterday, specifying that the imaging technology that VisionWave will acquire from GBT Technologies will primarily seek out applications in military combat scenarios and geological surveys. PR: Grove Collaborative (NYSE:GROV), which combined with Virgin Group II in June...

by Nicholas Alan Clayton on 2024-03-28 at 7:47am

At the SPAC of Dawn Fed Chair Jerome Powell has given new hints that the administration would be showing greater levels of comfort with inflation if a cut could help improve unemployment numbers. Those numbers could get an update today at 8:30 am ET to bring new jobless claims as well as final prices for...

by Nicholas Alan Clayton on 2024-03-27 at 1:31pm

News and Rumors CNBC: Former WeWork (OTC Pink:WEWKQ) founder Adam Neumann has offered to buy back control of the company for $500 million but has yet to secure the necessary financing. WeWork went public with BowX in October 2021. PR: Satellite telecom firm Spire Global (NYSE:SPIR) has signed an agreement to build and launch two...

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