Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Hyphen in talks to merge with Provident Acquisition Corp., SPAC promoters shun Chinese deals amid regulatory chill, and Rocket Lab acquires Advanced Solutions
Li-Backed Hyphen Said in Talks on $1 Billion Provident SPAC Deal
Hyphen Group, a financial technology firm backed by Hong Kong billionaire Richard Li, is in advanced talks to go public through a merger with blank-check company Provident Acquisition Corp. (NASDAQ:PAQC).
A transaction could value the combined company at about $1 billion and may include a PIPE of about $100 million.
READSPAC Promoters Shun Chinese Deals Amid Mounting Tensions
At least four SPACs have revised their IPO filings in recent months to remove China from their areas of interest. The changes come as the U.S. securities regulator demands volumes of disclosures on the risks of doing business in China, while Beijing authorities are scaring the market with their widening crackdown on corporate excesses.
READRocket Lab Acquires Space Software Company Advanced Solutions, Inc.
Rocket Lab USA, Inc. (NASDAQ: RKLB), a global leader in launch services and space systems, today announced it has completed the acquisition of Advanced Solutions, Inc. (ASI), a Colorado-based aerospace engineering firm delivering mission proven space software, mission simulation and test systems, and Guidance, Navigation, and Control (GNC) solutions, for $40 million plus the potential for an additional $5.5 million performance earnout based on CY 2021 results.
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NMP Acquisition Corp. (NASDAQ:NMPAU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “NMPAU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company that has a resilient business model with potential to scale up revenue. NMP’s management...
Cohen Circle Acquisition Corp. II (NASDAQ:CCIIU) announced the pricing of its $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CCIIU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company in the financial services technology (fintech) sector and fintech adjacent sectors that...
Indigo Acquisition Corp. (NASDAQ:INACU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “INACU”, Tuesday, July 1, 2025. The new SPAC plans to combine with an established, profitable company whose growth potential can benefit from its team’s expertise. Indigo’s management team is...
After a quiet June, July is set to be active throughout the month with nine de-SPACs and sponsors coming unlocked from their trading restrictions. This timing is most fortuitous for insurance investor Abacus Life (NASDAQ:ABL) and East Resources, which took it public in 2023, as it is the best performer of this group of companies...
Pyrophyte II (NYSE:PAII.U) has filed for a $175 million SPAC to dig for a natural resources target while the team’s first deal remains pending. The new SPAC is offering investors 1/2 warrants in each unit and it will have 24 months to complete a business combination without asking shareholders for an extension. It is the...