Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Hong Kong considers allowing SPAC listings, Redbox Entertainment acquires Vendetta distribution rights, and EQRx announces presentation of phase 3 data
Hong Kong Proposes SPAC Listings, But Only for Professional Investors
Hong Kong Exchanges & Clearing has outlined plans to allow the listing of blank-check corporations whose global popularity has soared over the past year, just two weeks after regional rival Singapore greenlit the float of such entities.
HKEX, however, proposes to take a more cautious approach than Singapore or the U.S.
Under the proposal offer for public comment on Friday, only institutional investors or individuals with a portfolio worth at least 8 million Hong Kong dollars ($1.03 million) would be allowed to invest in Hong Kong SPACs.
READRedbox Entertainment Acquires U.S. Distribution Rights to Action Thriller Movie Vendetta
Redbox Entertainment, the original content division of Redbox, today announced it has acquired U.S. distribution rights to the action-thriller movie Vendetta. The film will premiere in 2022 and is expected to have a limited theatrical run and be available day-and-date On Demand.
Redbox recently announced a definitive agreement to combine with Seaport Global Acquisition Corp. (NASDAQ:SGAM).
READEQRx Announces Presentation of Phase 3 Data Demonstrating a Progression-Free Survival Benefit
EQRx, a new type of pharmaceutical company committed to developing and delivering important new medicines to patients at radically lower prices, today announced a late-breaking mini oral presentation of data from its partner CStone Pharmaceuticals’ Phase 3 GEMSTONE-301 study at the European Society for Medical Oncology (ESMO) Congress 2021.
GEMSTONE-301 is a placebo-controlled Phase 3 trial evaluating the efficacy and safety of the anti-PD-L1 antibody sugemalimab as consolidation therapy in patients with locally advanced/unresectable Stage III non-small cell lung cancer (NSCLC) without disease progression after concurrent or sequential chemoradiotherapy.
In August 2021, EQRx announced a proposed combination with CM Life Sciences III (NASDAQ: CMLTU) to accelerate growth.
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At the SPAC of Dawn After a tepid month for SPAC activity in April, prominent teams are already scheduling things to make for some fireworks in early May. AltC (NYSE:ALCC) has already been turning heads as being the rare SPAC to trade significantly above trust value before close, and it has now booked the completion...
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...