Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Betsy Cohen predicts about 30% of SPACs will bust, Ginkgo caught in short-seller selloff, and Sonder expands into France
Betsy Cohen Predicts About a Third of SPACs Will Bust
Blank-check sponsor Betsy Cohen said about 30% of all SPACs in the market will fail, in an interview on Wednesday at the Bloomberg Invest Global conference.
“Either they won’t be able to find companies in the time frame or they will find companies within that time frame but the public market investors will not support them,” Cohen said.
READWall Street Darling Ginkgo Caught in SPAC, Short-Seller Selloff
In the world of biotechnology and SPACs, wild fluctuations in stock prices are pretty typical. For Ginkgo Bioworks Inc. (NYSE:DNA) and its who’s-who list of Wall Street backers, it’s been a rough two weeks that’s seen about $5 billion in market value wiped out.
READSonder Holdings Inc. Expands into France with Addition of Paris Champs-Elysées Property
Sonder Holdings Inc., a leading next-generation hospitality company that is redefining the guest experience through technology and design, has expanded into France. Sonder recently launched inaugural operations in the country with the management of the Sonder Atala, a 48-unit property located steps from the iconic Champs-Elysées in Paris.
Sonder’s expansion into France follows the recent news of the Company’s plans to be publicly listed through a business combination with Gores Metropoulos II (NASDAQ: GMIIU).
READRedbox Expands Distribution Footprint of Its Streaming App to the PlayStation 5 Console
Redbox, a leading entertainment company, today announced it has expanded the distribution footprint for its streaming app to the PlayStation 5 console.
The app also gives consumers access to new release movies for rent or purchase through its Transactional Video on Demand service including, Candyman starring Jordan Peele and Stillwater starring Matt Damon. Redbox also announced the Redbox streaming app will soon be available on the PlayStation 4 console as well.
Redbox recently announced a definitive agreement to combine with Seaport Global Acquisition Corp. (NASDAQ: SGAM).
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Cantor Equity Partners I (NASDAQ:CEPO) has entered into a definitive agreement to combine with Bitcoin Standard Treasury in a transaction that is worth about $4.8 billion. Bitcoin Standard Treasury aims to bring in capital from a number of equity instruments to build up one of the largest US-listed Bitcoin treasuries. The combined company is expected...
At the SPAC of Dawn Several de-SPACs have made market-moving announcements recently and they haven’t forgotten to cash in on them. Fresh off of announcing $500 million strategic investment and partnership with Apple (NASDAQ:AAPL), rare earth miner MP Materials (NYSE:MP) has followed that up with a $500 million public offering, netting the company a cool...
Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...
At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...
Solarius Capital Acquisition Corp. (NASDAQ:SOCAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SOCAU”, Wednesday, July 16, 2025. The new SPAC plans to combine with a target in the asset management, wealth management or financial services industries. Solarius Capital’s management team...