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
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...
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...