Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Manscaped in talks to merge with Bright Lights, Nikola founder Milton charged for false statements, and MENA region sees more SPAC deals
Grooming Startup Manscaped Holds Bright Lights SPAC Talks
Manscaped, a startup that sells products for “below-the-waist hygiene,” is in talks to merge with blank-check firm Bright Lights Acquisition Corp. in a transaction that could value it at about $1.4 billion.
READNikola Founder Milton Faces Charges He Lied to Support Stock
Nikola Corp. founder and former chairman Trevor Milton has been charged by prosecutors with making false statements to investors in the electric-vehicle startup, Bloomberg reported. The charges follow a difficult year for the company, which went public and almost immediately faced questions about its production and technology.
READMENA Region to See More SPAC Deals
SPACs are trending in MENA, which indicates that the startup ecosystem is evolving into a stronger and resilient sector, attracting global players and giving a boost to regional talent.
The three top regions that are leading and complementing the regional growth are the UAE, Egypt, and Saudi Arabia.
READSEC Clamps Down on Chinese IPOs With New Requirements for Risk Disclosures
Chinese companies will be unable to go public in the U.S. unless they make new risk disclosures, according to a statement released Friday morning from SEC chair Gary Gensler.
It’s not yet clear if this would affect Chinese companies going public in the U.S. via SPAC. The SEC registration process on such deals is technically for the SPAC, not for the company being acquired.
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At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...
At the SPAC of Dawn As April’s sleepy month for SPAC news continues, there is only one special meeting on the docket to consider a SPAC deal approval, that being today’s vote on Pegasus Digital Mobility‘s (NYSE:PGSS) combination with equipment manufacturer Schmid. Three more SPACs are facing extension votes this week, including Pyrophyte (NYSE:PHYT), whose...