Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Singapore’s first wave of SPACs said to move ahead with filing plan, Grab makes strong debut following SPAC deal, and BuzzFeed union workers plan walk out in protest on day of vote
Singapore’s First Wave SPACs Said to Move Ahead With Filing Plan
Vertex Holdings Ltd., a unit of Singapore state investor Temasek Holdings Pte, and European asset manager Tikehau Capital are preparing to lodge preliminary prospectuses for blank-check company listings in the city-state as soon as next week, according to Bloomberg.
Singapore buyout firm Novo Tellus Capital Partners is also set to file key documents for an IPO of a SPAC on the Singapore Exchange. The three firms are all working with advisers on the prospectuses, which could pave the way for their respective listings as soon as the end of this year.
READSoutheast Asia’s Grab Makes Strong U.S. Debut After Record SPAC Deal
Grab (NASDAQ:GRAB), Southeast Asia’s biggest ride-hailing and delivery firm, made a strong U.S. debut on Thursday following its record $40 billion merger with a Altimeter Growth.
Grab’s shares rose as much as 21% in opening trades before retreating to trade little changed at $10.99.
READBuzzFeed News Union Workers Walk Out in Protest on Day of SPAC Vote
Members of the BuzzFeed News Union staged a walkout on Thursday following nearly two years of contract negotiations, a move that comes the same day of a procedural vote on whether to take the company public through a deal with a blank-check company.
BuzzFeed initially announced its combination with 890 5th Avenue (NASDAQ:ENFAU) earlier this year on June 24.
READ
Some renewed hope around a 2024 rate cut propelled several stocks skyward in late Monday trading, and a large number of the day’s biggest gainers are tech-focused recent de-SPACs. The biggest one-day gain among de-SPACs late in the trading day is the +51.4% held by software firm XBP Europe (NASDAQ:XBP), which spun out from Exela...
Metals Acquisition (NYSE:MTAL) has begun an exchange of all outstanding warrants, offering holders up to 0.361 shares per warrant on a cashless basis or $0.10 per warrant if they so choose. The cashless option provides significantly more value as Metals last closed at $12.85, meaning warrants converted under that ratio would be worth about $4.63...
At the SPAC of Dawn Autonomous driving has seen some of the highest peaks and deepest valleys in share performance as the market has adjusted its appetites on tech companies. But, although it has shown many pitfalls, it continues to attract significant investment and is a focus for both startups and established automakers. Hyundai (KS:005380)...
Terms Tracker for the Week Ending May 3, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. The big news this week was that SPACs finally had a new IPO price with Churchill Capital Corp. IX’s $250 million offering on Thursday. SPACs...
Real estate marketplace Opendoor (NASDAQ:OPEN) is poised to be the latest de-SPAC to take a double-digit jump on earnings as it heads towards the weekend up +10%, having spiked as high as +27% earlier in the day. The movement comes as the former Social Capital II target reported progress towards profitability despite a high rates...