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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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...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...
At the SPAC of Dawn As April’s sleepy month for SPAC news continues, there is only one special meeting on the docket to consider a SPAC deal approval, that being today’s vote on Pegasus Digital Mobility‘s (NYSE:PGSS) combination with equipment manufacturer Schmid. Three more SPACs are facing extension votes this week, including Pyrophyte (NYSE:PHYT), whose...
Terms Tracker for the Week Ending April 19, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Passover and school spring break starts next week, which most likely means a slowdown in SPAC filing activity. Although Churchill IX is now rumored to...