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.
READ
Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...
M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...
At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...