Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Bill Ackman’s SPAC gets sued, Forbes Media in talks to merge with Magnum Opus, and BlackSky awarded contract for geospatial imagery
Bill Ackman SPAC Sued, Plaintiffs Say Sponsors Got “Staggering Compensation”
Bill Ackman’s troubled SPAC Pershing Square Tontine Holdings was hit with a lawsuit this morning that alleged the blank-check company awarded “staggering compensation” to its sponsors, and asked that the entity’s special status be revoked.
The lawsuit’s plaintiffs — former SEC commissioner Robert Jackson and law professor at Yale John Morley — claimed that Pershing Square Tontine Holdings isn’t an operating company at all, but that Ackman’s SPAC instead is an investment firm, just like his hedge funds.
They said the SPAC should adhere to the Investment Company Act of 1940.
READForbes Media in Talks To Go Public Via Magnum Opus SPAC
Forbes Media LLC is discussing going public through a merger with Magnum Opus Acquisition Ltd.(NYSE:OPA), according to Bloomberg.
Forbes is set to be valued at more than $650 million in a deal with Hong Kong-based Magnum Opus, and if reached, would scuttle Forbes’s earlier talks with a consortium led by Michael Moe’s GSV Asset Management.
READBlackSky Awarded Contract to Provide Geospatial Imagery
BlackSky Holdings, Inc. (“BlackSky”), a leading technology platform providing real-time geospatial intelligence and global monitoring, today announced that it has been awarded a contract modification from the National Reconnaissance Office to provide on-demand satellite imagery through a monthly subscription.
BlackSky’s high-resolution satellite constellation will generate imagery for defense and intelligence communities to support homeland defense, national security, disaster and emergency response missions.
Earlier this year, BlackSky announced its business combination with Osprey Technology Acquisition Corp. (NYSE: SFTW) and expects to close the transaction during the third quarter of 2021.
READPalantir Invests in More SPACs, and Buys $51 Million in Gold Bars
Palantir Technologies (NYSE:PLTR) has expanded its portfolio of investments in companies going public via SPACs to well over $300 million, according to Barrons.
In its June quarter financial filing with the SEC, Palantir disclosed $250 million in commitments to a group of 10 companies through June 30. That includes eight identified by name, all previously announced—Lilium, Sarcos Robotics, Roivant Sciences, Celularity (NASDAQ:CELU), Wejo, Babylon Health, Boxed, Pear Therapeutics—and two others described as “mobility company” and “autonomous vehicle company.”
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Exciting new things are coming for SPACInsider subscribers, and some have already arrived! This summer, SPACInsider is unveiling the SPACInsider Alerts App on iOS with an Android launch soon to follow. The app allows subscribers to stay ahead of the SPAC market with real-time, customizable filing alerts with instant notifications landing the moment that a...
At the SPAC of Dawn Futures are largely green with the CPI reading coming up, and several SPACs and de-SPACs have cause to feel bullish regardless of what the reading states. Pharma and beauty company Longevity Health (NASDAQ:XAGE) announced it will acquire plasma collection firm True Health ahead of market open in news that has...
Silver Pegasus Acquisition Corp. (NASDAQ:SPEGU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SPEGU”, Tuesday, July 15, 2025. The new SPAC plans to search within the technology sector, with a focus on semiconductors and systems solutions. Silver Pegasus Acquisition Corp.’s management...
Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...
Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...