Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: SoundHound and Qualcomm announce strategic agreement, MSP Recovery’s portfolio of assigned claims grows by 440%, and Pagaya and Visa announce partnership
SoundHound Inc. and Qualcomm Technologies Inc. Announce Strategic Agreement to Bring SoundHound’s Voice AI Technology to Snapdragon Platforms
SoundHound Inc., a global leader in voice artificial intelligence, currently in the process of becoming a public company through its expected merger with Archimedes Tech SPAC Partners Co. (NASDAQ: ATSPT), today announced a multi-year agreement with Qualcomm Technologies Inc. to enable SoundHound’s advanced voice AI technology, consisting of its automatic speech recognition, natural language understanding, and text-to-speech conversion software with select Qualcomm Technologies’ Snapdragon® platforms.
READMSP Recovery’s Portfolio of Assigned Claims Grows by Over 440%, From $61 Billion to an Estimated $330 Billion in Paid Amount
MSP Recovery, LLC, a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery leader, that in July agreed to a business combination with Lionheart Acquisition Corporation II (Nasdaq: LCAP), today announced that it has signed additional agreements with new and existing clients for additional healthcare claims, which significantly increase the Paid Amount associated with MSP Recovery’s portfolio of claims.
As a result of additional agreements signed by MSP Recovery, the Paid Amount associated with MSP Recovery’s portfolio of claims has increased by more than 440% from September 30, 2021.
READPagaya and Visa Announce Strategic Relationship to Enable Visa’s Merchant and Issuing Bank Partners to Expand Access to Credit
Pagaya, a global technology company building artificial intelligence infrastructure for the financial ecosystem, and Visa, a world leader in digital payments, facilitating more than 160 billion payments transactions worldwide, announced a strategic relationship that will enable Visa’s expansive network of merchant partners and issuing co-brand financial institutions to leverage Pagaya’s technology to expand customers’ access to financial products.
Pagaya and EJF Acquisition Corp. (NASDAQ: EJFA) announced in September that they have entered into a definitive business combination agreement, valued at an estimated enterprise value of approximately $8.5 billion at closing.
READQuanergy Highlights Business Momentum on Path to Publicly Listing on NYSE
Quanergy Systems, Inc., a leading provider of OPA-based solid state LiDAR sensors and smart 3D solutions for automotive and IoT, today provided an update on the significant progress in its technological advancements and customer solutions since the announcement of its intended business combination with CITIC Capital Acquisition Corp. (NYSE: CCAC) in June 2021.
The company was recently able to achieve industry-first 200 meter OPA range milestone, exceed 2021 revenue guidance; 32% sequential revenue growth from Q3 ’21, and increased customer count to nearly 400 and global partners to over 50.
READUAE GlobalOne Healthcare to Buy More Shares in SPAC Merger Candidate Alvotech
The UAE’s GlobalOne Healthcare Holding (GHH) said on Tuesday it has bought more shares in biopharma firm Alvotech, which GHH said is expected to go public in the first half of this year via a merger with a SPAC backed by Oaktree Capital Management L.P.
After the merger, the combined company that will trade under the ticker ALVO is estimated to have a $2.25 billion valuation. Yas Holding, GlobalOne’s parent, bought a 2.5% stake in Alvotech in 2019 at a valuation of $1.8 billion.
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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...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...