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
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...
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...