Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Equinox in talks to merge with Ares SPAC; WeWork shares rise on first day of trading
Equinox, Owner of SoulCycle, Is In Merger Talks With Ares SPAC
Equinox, whose gyms are frequented by Wall Street staffers among others, is in talks to go public through a merger with Ares Acquisition Corp. (NYSE:AAC) after talks with one of Chamath Palihapitiya’s blank-check companies collapsed, according to Bloomberg.
Ares Acquisition raised $1 billion in its February IPO. It is backed by Ares Management Corp., an alternative asset manager. A co-founder of Ares Management, David Kaplan, is the SPAC’s co-chairman and chief executive officer.
READWeWork Shares Rise on First Day of Trading, Two Years After Failed IPO
WeWork (NYSE:WE) shares rose on its first day of trading Thursday, capping a journey to a listing that included the implosion of its IPO in 2019.
The shared-office company WeWork went public through a combination with BowX Acquisition Corp. Shares, trading under the name WeWork Inc., rose about 6% to $11 Thursday morning.
Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...