Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Angel investors plan to list SPAC targeting African startups; House Minority Leader Kevin McCarthy makes Rumble preferred platform
Angel Investors Plan Rare SPAC Targeting African Startups
A pair of early-stage investors, who have made fivefold returns funding African startups since 2017, said they plan to list a blank-check company targeting technology companies from the continent.
Investment banker Vishal Agarwal and corporate lawyer Raj Kulasingam hope to emulate the success they saw as investors in Swvl Inc., an Egyptian bus-hailing service now based in Dubai, that’s merging with Queen’s Gambit Growth Capital (NASDAQ:GMBT). An Africa-focused SPAC would fill a gap to provide funds for a startup needing capital to rapidly expand, according to Agarwal.
READHouse Minority Leader Kevin McCarthy Makes Rumble his Preferred Platform
Rumble announced that U.S. House of Representatives Minority Leader Kevin McCarthy is making Rumble his preferred platform with exclusive content. McCarthy will use Rumble to make important announcements while engaging with his constituents and the American people on pressing political issues.
Rumble announced in December 2021 the execution of a definitive business combination agreement with CF Acquisition Corp. VI (NASDAQ: CFVI).
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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...