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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Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...