Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Fertitta’s Golden Nugget taps loan market to refinance debt, ex-Citi exec and SPAC directors face trial over MultiPlan deal, and crypto YouTuber Matt Khors makes Rumble his preferred platform
Billionaire Fertitta’s Golden Nugget Taps Loan Market to Refinance Debt
Billionaire Tilman Fertitta’s casino business Golden Nugget Inc. is tapping the leveraged loan market to refinance debt, after the firm’s parent company nixed plans to be taken public via a blank-check entity.
Golden Nugget is offering a $1.85 billion seven-year loan to investors, according to Bloomberg. The company also plans to issue a $1.85 billion secured bond and an additional unsecured bond of the same size. Along with a new revolving credit facility, proceeds from the offerings will be used to refinance existing debt.
Ex-Citi Exec, SPAC Directors Must Face Trial Over MultiPlan Deal
Former Citigroup executive Michael Klein and his blank check firm’s former directors must face a shareholder lawsuit challenging its $11 billion merger with health care-focused data analytics company MultiPlan (NYSE:MPLN), a Delaware judge said.
On Monday, Vice Chancellor Lori Will of the Delaware Chancery Court declined to drop claims accusing Klein and the SPAC’s other board members of illegally preventing shareholders from selling their shares back to the SPAC before the October 2020 merger.
Churchill Capital III shareholders approved its business combination with MultiPlan on October 7, 2020.
READFamed Stock & Crypto YouTuber Matt Khors Makes Rumble & Locals His Preferred Platforms
Rumble is proud to announce that Matt Kohrs has signed a deal to make Rumble and Locals his preferred platforms with exclusive content and exclusive audience engagement. Kohrs is known for providing commentary on finance, crypto and stocks and was at the forefront of the AMC and GameStop movements. According to Playboard, in 2021, Matt Kohrs was the 3rd largest creator by Super Chat revenue on YouTube in the USA.
As part of the deal, Kohrs will end his use of Patreon and instead exclusively use Locals for all subscriber-only content. In addition to the Locals move, Kohrs will bring his video-on-demand content exclusively to Rumble at least 1 hour prior to any other platform.
The company recently announced the execution of a definitive business combination agreement with CF Acquisition Corp. VI (NASDAQ: CFVI).
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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...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...