Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Social Capital Suvretta Holdings I in talks to merge with Akili Interactive while Social Capital Suvretta III in talks with ProKidney
Palihapitiya-Led SPAC Said to Discuss Akili Interactive Deal
Palihapitiya SPAC Is Said to Be in Talks With ProKidney
A blank-check firm started by serial dealmaker Chamath Palihapitiya and Suvretta Capital is in merger talks with medical technology company ProKidney LLC.
The combined company would be valued at more than $1 billion in a transaction, and an announcement could come as soon as next week.
ProKidney and the special purpose acquisition company, Social Capital Suvretta Holdings Corp. III (NASDAQ:DNAC), haven’t reached a final agreement and it’s possible talks could end without one.
Branson Hints at Setting Up a Virgin Group SPAC in Amsterdam
Richard Branson hinted but stopped short of confirming a report that his Virgin Group is considering setting up a blank-check company in the Netherlands, in what would be his first use of the structure in Europe.
The serial entrepreneur will probably seek to raise some 200 million euros ($227 million) by selling of shares in a special purpose acquisition company, with the aim of later merging the shell with an existing business, Sky News reported earlier.
READSPAC Race Heats Up in Asia With First Singapore Listings Due
Blank-check companies are set to make a debut in Singapore this month as the financial hub, which has struggled to attract new stock listings, gears up for competition from Hong Kong.
Vertex Technology Acquisition Corporation Ltd., sponsored by state investor Temasek’s Vertex Venture Holdings Ltd., is seeking at least S$170 million ($125 million), while Tikehau Capital SCA-backed Pegasus Asia could raise at least S$150 million. The listings are slated for Jan. 21 and Jan. 25, respectively.
At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...
Israeli 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...