Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Sponsor behind Forbes deal says slowdown is ‘healthy’ for the market, Vice Media abandons SPAC talks, and former American Express executive Joan Amble joins Buzzfeed’s Board of Directors
Slowdown in SPAC Issuance Healthy For Markets, Sponsor Behind Forbes Deal Says
There was a “mismatch” in market dynamics to begin the year, with investors focused on growth stories and placing little focus on valuations, said Jonathan Lin, who also serves as CEO of Magnum Opus Acquisition, a Hong Kong-based SPAC. That has since shifted as investors look for companies set to benefit from a post-Covid-19 recovery and place a greater focus on valuations, he said.
US-listed Magnum Opus (NYSE:OPA) agreed last week to acquire the American publisher of Forbes magazine in a deal that valued the company at US$630 million.
Vice Media Raises $85 Million as Co-Founder Shane Smith Abandons SPAC Talks and Voting Control
Vice Media has ended talks to go public with a SPAC for the time being and raised $85 million from existing investors, according to a Tuesday report in The Information.
The company was hoping to raise money through a merger with a SPAC funded by 7GC & Co. (NASDAQ:VII), but existing investors like James Murdoch’s Lupa Systems and Sixth Street Partners have agreed to invest in the company to help it achieve profitability now.
As part of the fundraising, Vice’s co-founder, Shane Smith, agreed to give up his voting control. He remains chairman of the board.
READJoan Amble Joins BuzzFeed’s Board of Directors as Audit Chair
Leading tech-powered media company BuzzFeed announced that Joan Amble has joined its Board of Directors as Audit Chair.
Amble, who previously served as Executive Vice President, Finance, and Comptroller for American Express, will bring decades of finance, accounting and public company experience to BuzzFeed’s Board of Directors and help BuzzFeed navigate a new period of growth as a public company.
READLeafly Launches In-App Cannabis Ordering for iPhone Users
Leafly, one of the world’s leading cannabis discovery marketplaces and resources, today announced a new update to Leafly’s iOS app that will enable iPhone and iPad users to place pickup orders for cannabis in legal state markets.
The announcement follows Apple’s recent update to its guidelines, which now permits in-app purchasing from licensed cannabis dispensaries, increasing access and removing a significant barrier between the legal cannabis market and consumers.
Merida Merger Corp I (NASDAQ:MCMJ) entered into a definitive agreement to combine with cannabis enterprise Leafly on August 9.
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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...
This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...
At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...
Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...