Below is a daily summary of links to theca latest SPAC news and rumors gathered across the web.
Latest SPAC News: Amsterdam hits IPO record as Europe’s SPAC capital and Palihapitiya sells down position in SoFi
Amsterdam Hits IPO Record as Europe’s SPAC Capital
The Dutch city, home to the world’s oldest stock exchange, has hosted 20 IPOs so far in 2021 for its highest-ever haul of 10.4 billion euros ($11.7 billion).
Businesses have flocked to Amsterdam as it usurped London as Europe’s premier share-trading center after Brexit. The Dutch exchange also attracted more SPACs than any other venue in the region, thanks to benign regulations and a deep pool of investors.
The latest is European Healthcare Acquisition & Growth Co BV, which made its debut Thursday. A total of 13 SPACs have listed in Amsterdam this year, including from big-name sponsors like UniCredit SpA’s former CEO Jean Pierre Mustier and billionaire Bernard Arnault.
READPalihapitiya Sells Down Position in Online Lender SoFi
Chamath Palihapitiya has sold down around 15% of his position in U.S. online lending company SoFi Technologies Inc (NASDAQ:SOFI) this week, the venture investor said in a tweet on Thursday.
Palihapitiya, founder and CEO of Social Capital, said the sale was to build up cash reserves and fund recent investments in companies such as battery materials firm Mitra Chem, fintech startup Spectral Finance and blockchain infrastructure company Syndica.
At 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...