Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: WeWork sales hit monthly high for 2021; Babylon secures $200m sustainability investment
WeWork Sales Hit Monthly High for 2021 in September
WeWork Cos. said its September revenue reached $228 million, its highest monthly sales this year, as the company prepares to list on the New York Stock Exchange.
At an online investor presentation Thursday, WeWork CEO Sandeep Mathrani painted a bright future for the flexible office space company, despite the delays in the return to the workplace caused by the coronavirus pandemic.
Preliminary third-quarter revenue totaled $658 million, up from $593 million in the prior quarter, the company said. Occupancy rates continued to climb, hitting 60% at the end of September, up from 52% in the prior quarter. Two years ago, its occupancy rates hovered above 70%.
WeWork is in the final stages of a plan to go public via a $9 billion merger with BowX Acquisition Corp. (NASDAQ:BOWX).
READBabylon Secures New $200m Sustainability-Linked Investment to Fuel Rapid Growth Plan
Babylon Holdings Limited, one of the world’s fastest-growing digital healthcare companies, today announced that it has secured a sustainability-linked investment of up to $200 million from Albacore Capital Group, a strategic capital investment firm.
Together with already committed PIPE capital of $230 million from institutional and strategic investors, Babylon will now have access to as much as $775 million of capital following the merger with Alkuri Global Acquisition Corp. (NASDAQ: KURI) assuming no redemptions, with a minimum of $430 million of capital guaranteed to continue fueling Babylon’s sustained growth.
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At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...