Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Gogoro in talks to merge with Poema, Grab cuts projections for 2021, and Planet expands contract with NASA
Taiwanese Startup Gogoro in Merger Talks With Poema SPAC
Gogoro, a Taiwanese startup that specializes in battery-swapping technology, is in talks to go public through a merger with Poema Global Holdings Corp. (NASDAQ:PPGH).
The deal is set to value the combined company at $1 billion or more, and an announcement could come as soon as this week, according to Bloomberg.
READGrab Cuts Full-Year Outlook on Worsening Virus Outbreak
Grab Holdings Inc., Southeast Asia’s ride-hailing and delivery giant, cut projections for 2021 as the region is battling one of the world’s worst Covid-19 outbreaks due to the fast-spreading delta variant.
The Singapore-based company, which is set to go public in the U.S. through a deal with Altimeter Growth Corp. (NASDAQ:AGC), expects full-year adjusted net sales of $2.1 billion to $2.2 billion. That compares with $2.3 billion it forecast in an investor presentation in April.
Grab also expects full-year gross merchandise value of $15 billion to $15.5 billion, compared with an earlier projection of $16.7 billion.
READPlanet Expands Contract With NASA to Provide Data to All U.S. Federal Civilian Agencies Researchers
Planet, a leading provider of daily data and insights about Earth, today announced that the Company has been awarded another contract by NASA under their Commercial SmallSat Data Acquisition (CSDA) Program.
This contract grants all U.S. Federal Civilian scientific researchers and National Science Foundation funded researchers, including contractors and grantees, access to Planet data until September 2022.
Planet recently entered into a definitive merger agreement with dMY Technology Group, Inc. IV (NYSE:DMYQ).
READAt 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...