Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Hong Kong to allow SPAC listings next month, Belgium Proximus rises following TeleSign deal, and asset manager claims he was frozen out of Trump Media SPAC
Hong Kong Stock Exchange to Allow SPAC Listings Next Month
Hong Kong unveiled its rulebook for blank check companies, allowing for listings at the start of next year while setting a strict regime to safeguard investors.
After a consultation period on proposed rules, the city’s exchange decided to keep in place a fund-raising threshold of HK$1 billion ($128 million), while trimming the minimum required backing of institutional investors to 20, according to a conclusion released by the Hong Kong Exchanges & Clearing Ltd. on Friday.
Retail investors are still barred from investing in the SPACs as proposed.
READBelgium’s Proximus Rises After Its TeleSign Unit Agrees SPAC Merger
Shares in Belgian state-controlled telecoms firm Proximus rose on Friday after its subsidiary TeleSign agreed to merge with a New York blank-check company in a deal that would value the unit at $1.3 billion.
U.S.-listed North Atlantic Acquisition Corporation (NASDAQ:NAAC), chaired by Diageo’s former Europe chief Andrew Morgan, said on Thursday it would buy a minority stake in TeleSign for a total transaction size of $487 million.
READAsset Manager Claims He Was Frozen Out of Trump Media SPAC
An asset manager who claims he was “instrumental” in landing former President Donald Trump’s planned media company for Digital World Acquisition Corp. (NASDAQ:DWAC) claims he was removed as a potential director and cheated out of shares.
Bluestone Capital Management’s Brian Shevland said Digital World Chief Executive Officer Patrick Orlando was behind an August regulatory filing in which Shevland’s name was quietly removed from the SPAC’s board, according to a lawsuit filed in a Miami federal court on Tuesday.
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At the SPAC of Dawn During a week in which rare earth mining and space de-SPACs have seen major gains, another blast from the past is making serious waves in the market. EV battery developer QuantumScape (NYSE:QS) rose to a 52-week high of $13.79 yesterday and is cruising even higher in the pre-market. The company...
Cantor Equity Partners I (NASDAQ:CEPO) has entered into a definitive agreement to combine with Bitcoin Standard Treasury in a transaction that is worth about $4.8 billion. Bitcoin Standard Treasury aims to bring in capital from a number of equity instruments to build up one of the largest US-listed Bitcoin treasuries. The combined company is expected...
At the SPAC of Dawn Several de-SPACs have made market-moving announcements recently and they haven’t forgotten to cash in on them. Fresh off of announcing $500 million strategic investment and partnership with Apple (NASDAQ:AAPL), rare earth miner MP Materials (NYSE:MP) has followed that up with a $500 million public offering, netting the company a cool...
Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...
At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...