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.
READVirgin 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.
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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...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...