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.
READAGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...
Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...