Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Abu Dhabi proposes SPAC framework, SPAC tied to Trump’s media venture seeks Wall Street backing, and Nextdoor surges following merger
Abu Dhabi’s Stock Exchange Submits SPAC Framework Proposal
Abu Dhabi has proposed a regulatory framework to allow the listing of blank-check companies, potentially opening the door to a slew of Gulf-focused deals involving SPACs.
The proposal led by the Abu Dhabi Securities Exchange (ADX) and the Department of Economic Development has been submitted to the Securities and Commodities Authority, the ADX said in a statement on Tuesday.
READSPAC Tied to Trump’s Media Venture Seeks Wall Street Backing
Digital World Acquisition Corp. (NASDAQ:DWAC) has begun scheduling meetings with prospective investors for a PIPE transaction to support its merger with Trump Media & Technology Group, according to Bloomberg.
While the PIPE’s terms haven’t been finalized, it may exceed $500 million in size.
READNextdoor Surges in Public Market Debut After SPAC Merger
Investors gave Nextdoor Holdings Inc. (NYSE:KIND) a warm welcome to the public markets neighborhood. Shares of the localized social networking company surged 40% in its first hour of trading.
Nextdoor began trading Monday on the New York Stock Exchange under the ticker KIND after merging with the SPAC Khosla Ventures Acquisition Co. II. The shares were temporarily halted and resumed trading with gains of more than 30% over the SPAC’s Friday closing price.
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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...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...