Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Gensler targets SPAC disclosures as SEC considers tougher rules, Berlin venture fund 468 Capital plans second SPAC listing, and System 1’s MapQuest agrees to acquire RoadWarrior
Gensler Targets SPAC Disclosures as SEC Considers Tougher Rules
U.S. Securities and Exchange Commission Chair Gary Gensler laid out a laundry list of concerns over SPACs, delivering his strongest signal yet that he’ll push for much tougher rules for the blank-check firms.
Gensler, who’s repeatedly raised issues with SPACs since taking over in April, gave a road map Thursday for areas where the regulator may need to step up regulation. He said he’s concerned that retail investors putting money in a firm taken public by merging with a blank-check company may be at a disadvantage compared with backing a traditional IPO.READ
Berlin Venture Fund 468 Capital Plans Second SPAC Listing
468 Capital, the Berlin-based venture capital fund, is planning to seek about 250 million euros ($283 million) from a listing of its second SPAC.
The German investment firm is working with Berenberg on plans for the blank-check company. It aims to announce the potential Frankfurt listing as soon as this month.READ
System1’s MapQuest Agrees to Acquire RoadWarrior to Increase Footprint in Subscription Services and Route Planning
System1, owners of MapQuest, one of the original consumer mapping services, today announced that it has reached an agreement to acquire RoadWarrior, a subscription app focused on route planning for today’s ever-growing gig economy drivers. The acquisition will enable System1 to continue expanding the breadth of their subscription offerings, while delivering more robust route planning product features to MapQuest’s users.
In June 2021, System1 announced plans to list on the NYSE through a business combination with Trebia Acquisition Corp. (NYSE: TREB), which also includes the acquisition of Protected.net Group.READ
Spire Global, Inc. Selects Virgin Orbit for Late-Load Addition to Next Flight in Record Time
Leading launch company Virgin Orbit, which has announced a planned business combination with special purpose acquisition company NextGen Acquisition Corp. II (NASDAQ: NGCA), has announced alongside space-based data and analytics provider Spire Global, Inc. (NYSE: SPIR) that they have received waiver approval from the Federal Aviation Authority to include Spire on Virgin Orbit’s upcoming launch.
The satellite, which was integrated at Virgin Orbit’s Long Beach facility within 36 hours, will fly as the third customer in the previously announced Above the Clouds mission, scheduled for mid-December 2021 to mid-January 2022.
Boxed Teams with Google Cloud to Power Global Platform Technology Solutions
Boxed (NYSE: BOXD), an e-commerce grocery platform that sells bulk consumables and licenses its e-commerce software to enterprise retailers, today announced it will further integrate with Google Cloud to drive innovation throughout its platform and continuously improve the customer journey.
Seven Oaks Acquisition Corp. secured shareholder approval of its combination with Boxed on December 7.