Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Robotics company Symbotic in talks to merge with SVF Investment Corp. 3 for $4.5 bln, Aura and Fat Projects eye SPAC listings in New York and Singapore
Walmart-backed Symbotic in $4.5 Bln Talks to Merge With SoftBank SPAC
Walmart Inc-backed robotics and automation company Symbotic is in talks to merge with SVF Investment Corp. 3 (NASDAQ:SVFC), a blank-check vehicle backed by SoftBank Group Corp., in a deal that would value the combined firm at $4.5 billion, Sky News reported.
If successfully completed, Walmart is expected to participate in the capital-raising element of the deal known as the PIPE alongside other investors.
READAura and Fat Projects Eye SPAC Listings in New York, Singapore
Singaporean investment firms Aura Group and Fat Projects have agreed to explore launching SPACs that target technology businesses in the Asia Pacific region.
“We share the joint thesis that Southeast Asia is one of the most exciting places to invest over the next decade,” Aura co-founder Calvin Ng said in an interview. “The next billion internet users are coming online from this region.”
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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...
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...