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.
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...