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.
READ
Terms Tracker for the Week Ending April 19, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Passover and school spring break starts next week, which most likely means a slowdown in SPAC filing activity. Although Churchill IX is now rumored to...
Despite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...
At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...