Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Crypto billionaire-backed SPAC listing plan sends Monex limit up and Virgin Orbit partners with ANA HOLDINGS to procure twenty LauncherOne flights from Japan
Crypto Billionaire-Backed SPAC Listing Plan Sends Monex Limit Up
Monex Group Inc. surged by its daily limit after the Japanese financial firm announced plans to list its U.S. online trading subsidiary through a deal with Michael Novogratz’s Galaxy Digital Holdings Ltd.
In a statement after the market close Thursday, Monex said its wholly-owned unit TradeStation Group Inc. plans to list on the New York Stock Exchange in the first half of 2022 following a merger with Quantum FinTech Acquisition Corp. (NYSE:QFTA). The deal puts TradeStation at an implied pro forma enterprise value of $1.43 billion at closing.
READNew Agreement Between Virgin Orbit and ANA HOLDINGS Sets the Stage for Twenty LauncherOne Flights From Japan
Virgin Orbit, the responsive launch and space solutions company that has announced a planned business combination with NextGen Acquisition Corp. II (NASDAQ: NGCA), announced that it has entered into a memorandum of understanding with ANA HOLDINGS INC., the owners of Japan’s largest airline, to procure twenty flights of the LauncherOne rocket and to lead the effort to provide funds and support for those orbital missions to launch from Japan’s Oita Prefecture.
The terms of the MOU call for ANA HOLDINGS and several of its partners to fund the manufacturing of a new set of the mobile ground support equipment used to prepare Virgin Orbit’s LauncherOne system for flight from a pre-existing runway, with a target of making Oita a LauncherOne-ready spaceport by as soon as the end of 2022, pending appropriate regulatory approvals in the United States and Japan.
READAt 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...