Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Ackman investors on Reddit defend SPAC against shareholder claims and Wejo restates accounts after listing
Ackman SPAC Investors Defend It Against Fellow Shareholder’s Claims
Investors in Bill Ackman’s Pershing Square Tontine Holdings Ltd. (NYSE:PSTH) — some recruited through a Reddit forum — rallied to defend the world’s largest special purpose acquisition company against claims by fellow shareholder George Assad that it was operating illegally.
A group of 62 investors holding almost 1.3 million shares filed court papers last week in support of the SPAC’s bid to dismiss a lawsuit by Assad, who sued in August after the company abandoned plans for a deal with Universal Music Group.
Assad alleged that Pershing Square Tontine isn’t a SPAC and that it should be regulated under the Investment Company Act of 1940, which would require registration with the U.S. Securities and Exchange Commission.
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With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...
At the SPAC of Dawn As April’s sleepy month for SPAC news continues, there is only one special meeting on the docket to consider a SPAC deal approval, that being today’s vote on Pegasus Digital Mobility‘s (NYSE:PGSS) combination with equipment manufacturer Schmid. Three more SPACs are facing extension votes this week, including Pyrophyte (NYSE:PHYT), whose...
Terms Tracker for the Week Ending April 19, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Passover and school spring break starts next week, which most likely means a slowdown in SPAC filing activity. Although Churchill IX is now rumored to...
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...