Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Kin Insurance sees growth accelerate at start of fourth quarter, and Clover Health strengthens presence across Georgia with new contracts
Kin Insurance Sees Growth Accelerate at the Start of Fourth Quarter 2021, While Adjusted Loss Ratio Improves
Kin Insurance, Inc., a leading direct-to-consumer homeowners insurance technology company that has entered into a definitive business combination agreement with Omnichannel Acquisition Corp. (NYSE: OCA), today announced select preliminary operating results through October 31, 2021, and additional preliminary results for the third quarter ended September 30, 2021.
Total Managed Premium1 increased to $79.4 million year-to-date through October 31, 2021, over four times the $18.5 million of Total Managed Premium in the prior-year comparative period.
Adjusted Loss Ratio on the Carrier through September 30, 2021 was 89.8%, a 17.6% improvement over the prior-year comparative period. Adjusted Loss Ratio, net of XOL recoveries, was 79.3% through September 30, 2021.
READClover Health Strengthens Presence Across Georgia with New Medicare Advantage Network Contracts
Clover Health (NASDAQ: CLOV), a technology company committed to improving health equity for America’s underserved seniors, today announced it has significantly increased the breadth and depth of its provider network throughout Georgia with the addition of dozens of hospitals, health systems and key provider partners across the region.
These contracts align approximately 5,000 new primary care physicians and specialists with Clover’s Medicare Advantage PPO network and complement the strong existing network in the Atlanta, Savannah, and Macon markets, offering Clover members in-network access to nearly 15,000 providers statewide.
Social Capital Hedosophia Holdings Corporation III approved its business combination with Clover Health earlier this year on January 6.
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AGBA (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...