Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Weed supplier HERBL is in talks to merge with BGP Acquisition and Cargill partners with vertical farming pioneer AeroFarms
California Weed Supplier HERBL in Talks To Go Public Via SPAC Merger
California weed supplier HERBL is in talks to go public by merging with blank check company BGP Acquisition, at a valuation of about $600 million, Reuters said, one of several U.S. cannabis companies tapping funds in anticipation of potential federal reforms.
Santa-Barbara, California-based HERBL, has seen its post-merger enterprise value cut to between $450 million and $500 million in recent weeks, from over $630 million in the original agreement reached with BGP around June.
READCargill Partners with Vertical Farming Leader AeroFarms in First-of-Its-Kind Research Focused on Cocoa Production
As part of ongoing efforts to build a more resilient and sustainable cocoa sector, Cargill has entered a multi-year research agreement with vertical farming pioneer and leader AeroFarms aimed at improving cocoa bean yields and developing more climate-resilient farming practices.
AeroFarms announced a definitive business combination agreement with Spring Valley Acquisition Corp. (Nasdaq: SV) on March 26.
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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...