Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: BuzzFeed fallout worsens while Solid Power surges in Nasdaq debut, and former Trump admin attorney joins Rumble as Legal Chief
BuzzFeed Fallout Worsens, Sheds 39% Since This Week’s Debut
BuzzFeed Inc.’s (NASDAQ:BZFD) plunge after leaping into the public market earlier this week is accelerating.
Shares of the digital media company spiraled 24% to $5.87 Thursday, closing at a fourth consecutive record low. BuzzFeed debuted on Dec. 6 after merging with blank-check company 890 5th Avenue Partners Inc., and since then it has shed nearly 40% of its value as the majority of investors opted not to participate, leaving the business with a fraction of the millions in funding it originally expected to receive.
READShares of Ford- and BMW-backed Battery Supplier Solid Power Surge in Nasdaq Debut
Shares of electric vehicle battery cell supplier Solid Power surged as much as 14% during the company’s Nasdaq debut Thursday morning following the completion of a SPAC deal.
The stock’s initial performance is similar to other electric vehicle related companies that have gone public through deals with blank-check companies. Many jump during initial trading to then level-off and become volatile over time.
Decarbonization Plus Acquisition Corp. III recently received shareholder approval of its combination with Solid Power.
READFormer Trump Admin Attorney Joins Platform Rumble as Legal Chief
Former Trump administration lawyer Michael Ellis has landed the top legal role at Rumble Inc., a Canadian video platform that has counted the former president as a member.
Ellis joined Rumble in November as its first-ever general counsel and corporate secretary, a company spokesman confirmed Thursday.
On December 2, CF Acquisition Corp. VI (NNASDAQ:CFVI) agreed to combine with Rumble.
READTerms Tracker for the Week Ending April 19, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Passover and school spring break starts next week, which most likely means a slowdown in SPAC filing activity. Although Churchill IX is now rumored to...
Despite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...
At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
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...