Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: KKR SPAC mulls $14B deal for PetSmart, ex-Daimler boss tapped for new Kensington auto-focused SPAC, and Singapore’s first SPACs off to timid start
KKR SPAC Said to Mull Deal for PetSmart at $14 Billion Value
PetSmart (NASDAQ:PETM) is in talks to go public through a blank-check company backed by private equity firm KKR & Co., according to Bloomberg.
The pet supply retailer, backed by BC Partners, would be valued in the transaction at $14 billion including debt. KKR Acquisition Holdings I Corp. (NYSE:KAHC) raised $1.38 billion in its initial public offering last March to hunt for a deal in the consumer or retail industries.
READEx-Daimler Boss Tapped for New Kensington Auto-Focused SPAC
Kensington Capital, whose blank-check firms have already taken public QuantumScape Corp. (NYSE:QS) and Wallbox NV (NYSE:WBX), has tapped former Daimler AG chief Dieter Zetsche as vice chairman for a fourth automotive-focused SPAC.
Its latest SPAC, Kensington Capital Acquisition Corp IV(NYSE:KCAC.U), filed Thursday to raise $200 million in an initial public offering. The company said it will focus on acquiring a business “operating in the global automotive and automotive-related sector.”
READSingapore’s First SPACs Off to Timid Start in Rough Trading Week
A lackluster market debut for the first two blank-check companies to list in Singapore is raising some questions whether the excitement seen for such vehicles in the U.S. early last year will prevail in Asia.
Vertex Technology Acquisition Corp., sponsored by a unit of state investor Temasek, jumped in early trading on Thursday, but is now just 1% higher than its offer price. Tikehau Capital SCA-backed Pegasus Asia has been largely flat since listing earlier on Friday.
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Texas Ventures Acquisition III Corp (NASDAQ:TVACU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “TVACU”, Wednesday, April 23, 2025. The new SPAC’s primary search focus will be on industrial technology, specifically companies implementing advanced technologies including software, mobile and IoT applications,...
GSR III Acquisition Corp. (NASDAQ:GSRT) has entered into a definitive agreement to combine with nuclear reactor developer Terra Innovatum at a pro forma equity value of $475 million. Terra Innovatum is developing small modular nuclear reactor designs that it envisions employing in urban power supply applications. The combined company is expected trade on the Nasdaq under...
At the SPAC of Dawn Despite a continued tumble in the broader market, SPACs are still making noise and seem more likely than ever to play a significant role in the 2025 equity markets. GSR III (NASDAQ:GSRT) became the 16th SPAC to announce a deal so far this year and it is of the latest...
Papaya Growth (OTC:PPYA) has entered into a definitive agreement to combine with Brazilian energy firm PX Energy at an equity value of $155 million subject to adjustment based on fuel places leading into close. São Mateus do Sul, Brazil-based PX operates a petroleum refining, recycling and mining operation that produces both fuel and agricultural products....
At the SPAC of Dawn This week appears set to start in the red as futures blink negative after a long weekend and the end of Spring Break in the New York area. Four SPACs are nonetheless seeking extensions from shareholders this week, although no SPAC has yet scheduled a deal approval vote for the...