Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Averda in talks to go public through merger with Better World, Carousell and L Catterton said in $1.5B SPAC deal talks, and Fertitta seeks $250M payday
Dubai Waste Firm Averda Said to Be in Better World SPAC Merger Talks
Carousell, L Catterton Said in $1.5 Billion SPAC Deal Talks
Carousell Pte, a Singapore-based online classifieds marketplace operator, is in talks to go public through a merger with blank-check company L Catterton Asia Acquisition Corp. (NASDAQ:LCAA).
A transaction could value the combined entity at as much as $1.5 billion. Carousell has entered into exclusive talks with the special purpose acquisition company.
Fertitta Seeks a $250 Million PayDay After Ditching SPAC Deal
Fertitta Entertainment is planning to pay out $250 million to its founder and sole owner, thanks to some $5.6 billion the company plans to borrow in bond and loan markets this month when it refinances debt. Money managers are eager to lend to companies like Fertitta’s that pay relatively high yields and are posting record profits after people resumed traveling and eating out last year.
The refinancing comes just a month after Fertitta ditched an $8.6 billion plan to sell a stake in his empire to Fast Acquisition Corp. (NYSE:FST).
READBritish Tycoon Branson to List Blank-Check Company in Amsterdam
Billionaire British businessman Richard Branson is set to launch his first-ever European blank-check company on the Amsterdam stock exchange in the next few months, Sky News reported on Friday.
The tycoon is looking to list the new SPAC on the Euronext stock exchange in Amsterdam instead of the London bourse, where his Virgin Group empire is based.
The blank-check company will seek to raise an initial sum of 200 million euros ($225.94 million).
Trump-Linked Stocks Rally With Truth Social App Debut on the Horizon
The blank-check company set to bring Donald Trump’s media company public rallied along with other stocks tied to the former president after news his social media app is close to making its debut.
The Truth Social network app, a piece of Trump’s plans for a media and tech empire, is expected to be available starting Feb. 21, according to a posting in Apple’s App Store. Shares of Digital World Acquisition Corp.(NASDAQ:DWAC), the company set to merge with Trump Media & Technology Group, spiked 20% after the posting circulated in chatrooms and social media.
CF Acquisition Corp. VI (NASDAQ:CFVI), a blank-check firm set to bring Rumble Inc. public, also rose. Rumble and Trump Media have inked a tech and cloud services agreement for Rumble to deliver video and streaming for Truth Social. Shares of the SPAC rallied as much as 4.1%, extending a four-day winning streak.
READIsraeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...
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...