Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Private investors plot Forbes buyout, and Virgin Orbit and Arqit expand launch agreements
Private Investors Plot Forbes Buyout
Investment firm GSV is working on a bid to buy Forbes Media at a $620 million valuation as an alternative to Forbes’ announced SPAC merger with Magnum Opus (NYSE:OPA), Axios has learned.
The bid is led by GSV Asset Management CEO Michael Moe, with participation from “top family offices and institutional investors,” according to a pitch a participating investor is circulating to others and seen by Axios.
The deal would value Forbes at $620 million, slightly less than the $630 million valuation Forbes would get via its merger with Magnum Opus.READ
Virgin Orbit and Arqit Expand Launch Agreements
Virgin Orbit, the responsive launch and space solutions company that has announced a planned business combination with NextGen Acquisition Corp. II (NASDAQ: NGCA), has signed a new launch contract covering two dedicated launches for Arqit Quantum, Inc. (NASDAQ: ARQQ), a global leader in quantum encryption technology, plus additional commitments.
The two Arqit satellites delivered to Earth orbit by Virgin Orbit’s LauncherOne air-launched system will be the core component of Arqit’s Platform-as-a-Service, delivering the root source of randomness to all Arqit data centres using Arqit’s ground breaking Quantum protocol ARQ19.READ