Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Singapore Exchange considers lowering market cap requirements for SPACs, and Aurora releases tool to gauge safety of self-driving systems
Singapore Exchange Mulls Lower Market Cap Requirement for SPAC Listings
SGX (Singapore Exchange) is reportedly considering lowering the minimum market cap requirement for SPACs seeking to list in Singapore.
An SGX spokesperson said it has received more feedback from the SPACs consultation than any other previously, and is “working very hard” to publish the results as soon as possible.
READAurora Releases Tool to Gauge Safety of Self-Driving Systems
Aurora, the Silicon Valley self-driving startup founded by former Tesla, Uber and Google executives, has released what it says is the industry’s first tool for evaluating whether and when autonomous trucks and cars are safe to deploy on public roads without a human behind the wheel.
The release of the safety tool, which provides a methodology and metrics for gauging progress from development to deployment, comes days after the U.S. National Highway Traffic Safety Administration opened an investigation of Tesla’s Autopilot driving assistance feature following a series of crashes involving Tesla models and emergency vehicles.
Aurora entered into a definitive agreement to combine with Reinvent Y (NASDAQ:RTPY) on July 15.
READ
AI has quietly been creeping to the top of the buzziest sectors for SPAC deals, but it’s become host to an even larger arms race in the private funding market. Elon Musk is currently pushing a $6 billion capital raise for his OpenAI competitor xAI at a valuation of $18 billion, according to TechCrunch, while...
At the SPAC of Dawn After a tepid month for SPAC activity in April, prominent teams are already scheduling things to make for some fireworks in early May. AltC (NYSE:ALCC) has already been turning heads as being the rare SPAC to trade significantly above trust value before close, and it has now booked the completion...
At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...
Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
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...