Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Internet entrepreneur Patrick Grove mulls Singapore SPAC, Hong Kong plans to curb access for retail investors, and SEC advisory group endorses tougher SPAC disclosure rules
Entrepreneur Patrick Grove Considering a Singapore SPAC
Internet entrepreneur Patrick Grove is weighing listing a SPAC in Singapore, joining the race to be the first to sponsor blank-check vehicles under the new rules unveiled by the city-state last week.
The chairman of Catcha Group, an internet-focused investment company in Southeast Asia, has had discussions with Singapore Exchange Ltd. about a potential listing. The Australian businessman already took his blank-check firm named Catcha Investment Corp. (NYSE:CHAA) public in the U.S. earlier this year, raising $300 million.
READHong Kong Plans to Limit Retail Investor Access to SPACs
Hong Kong plans to curb access for retail investors to buy and trade SPACs as regulators in the city prepare to roll out a framework this month.
The city will propose to only allow what it deems as professional investors with assets of more than HK$8 million ($1 million) to participate in both the primary and secondary market of SPACs.
READTougher SPAC Disclosure Rules Endorsed by SEC Advisory Group
A group of executives and academics that advises the U.S. Securities and Exchange Commission wants better SPAC disclosures.
The recommendations from the SEC’s investor advisory committee will likely help agency staff as they craft new regulations for SPACs, which have drawn bipartisan criticism from lawmakers after attracting a record $80 billion last year.
READ
News and Rumors PR: Bannix (NASDAQ:BNIX) has provided more information on the combination with VisionWave that it announced yesterday, specifying that the imaging technology that VisionWave will acquire from GBT Technologies will primarily seek out applications in military combat scenarios and geological surveys. PR: Grove Collaborative (NYSE:GROV), which combined with Virgin Group II in June...
At the SPAC of Dawn Fed Chair Jerome Powell has given new hints that the administration would be showing greater levels of comfort with inflation if a cut could help improve unemployment numbers. Those numbers could get an update today at 8:30 am ET to bring new jobless claims as well as final prices for...
News and Rumors CNBC: Former WeWork (OTC Pink:WEWKQ) founder Adam Neumann has offered to buy back control of the company for $500 million but has yet to secure the necessary financing. WeWork went public with BowX in October 2021. PR: Satellite telecom firm Spire Global (NYSE:SPIR) has signed an agreement to build and launch two...
Bannix (NASDAQ:BNIX) has entered into a definitive agreement to combine with VisionWave Technologies for $30 million. The combined company is expected to trade on the Nasdaq once the deal is completed with an initial outside date of September 14. Transaction Overview Bannix has about $17 million in its trust after seeing 77.4% of its shares...
At the SPAC of Dawn Much of the attention yesterday was on tracking the swings of the newly-completed Trump Media (NASDAQ:DJT) deal with the FT going as far to suggest it may “make SPACs great again.” Not all of the day’s data points were on the positive side of the ledger, however. IB Acquisition Corp....