Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Byju in talks to go public via SPAC, Vistas Media announces joint venture between Anghami and Sony Music Entertainment Middle East, and Canoo revs up U.S. EV production plan
India’s Startup Byju’s in Talks to Go Public Via SPAC Deal
The online education provider Byju’s, India’s most valuable startup, is in advanced discussions to go public through a merger with one of Churchill Capital’s SPACs.
The startup held talks with several potential SPAC partners and is farthest along in working out an agreement with Michael Klein’s Churchill Capital. Churchill Capital VII (NYSE:CVII) raised more than $1.3 billion in an offering in February.
Under the preliminary terms discussed, Byju’s would raise a total of about $4 billion and seek a valuation of about $48 billion. The startup was valued at $21 billion, according to market research firm CB Insights.
READVistas Media Acquisition Company Inc. and Anghami Announce Joint Venture Between Sony Music Entertainment Middle East and Anghami For New Record Label ‘Vibe Music Arabia’
Anghami Inc., the leading music streaming platform and service in the Middle East and North Africa, and Vistas Media Acquisition Company Inc. (NASDAQ:VMAC) a publicly traded SPAC led by CEO F. Jacob Cherian and co-founders Saurabh Gupta and Abhayanand Singh, announced the launch of a new joint venture record label, “Vibe Music Arabia”, between Sony Music Entertainment Middle East and Anghami.
On March 3, 2021, Vistas Media Acquisition Company Inc. entered into a definitive merger agreement to combine with Anghami.
READCanoo Revs Up U.S. Electric Vehicle Production Plan As it Drops Overseas Deal
Electric vehicle startup Canoo Inc. (NASDAQ:GOEV) on Wednesday said it was accelerating its production plans in the United States while ending its deal for VDL Nedcar in Netherlands to serve as its contract manufacturer in Europe.
Canoo shares were up 3% in after hours trading.
Hennessy Capital Acquisition Corp. IV completed its combination with Canoo on December 21, 2020.
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Deals and Amendments Arogo Capital (OTC:AOGO) has received notice that its merger target Ayurcann Holdings (CSE:AYUR) has terminated their business combination citing a breach on behalf of the SPAC. Ayurcann expects to be paid a $250,000 breakup free from Arogo. News and Rumors PR: Smart TV firm Innovid (NYSE:CTV), which combined with ION 2 in...
At the SPAC of Dawn Wednesday night saw two more SPACs price their IPOs, which means November’s eight listings will now eclipse October’s haul of seven and the five IPOs of September. Amid this accelerating momentum, a new name could soon be seen on a number of new SPACs. EF Hutton rebranded to D. Boral...
CO2 Energy Transition Corp. (NASDAQ:NOEMU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “NOEMU”, Thursday, November 21, 2024. The new SPAC intends to combine with a target company that is focused on reducing emissions through the generation of renewable energy or...
Dynamix Corporation (NASDAQ:DYNXU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “DYNXU”, Thursday, November 21, 2024. The new SPAC intends to focus its search on companies that are within the energy transition, oil and gas, and power sectors. Dynamix Corporation is...
At the SPAC of Dawn One more shoe has dropped as the President-Elect Donald Trump works to staff his incoming administration and set priorities as he has appointed Cantor Fitzgerald CEO Howard Lutnick to lead the Department of Commerce. This ends speculation about where the head of 2024’s leading SPAC underwriter would land. The question...