The Latest SPAC News and Rumors: January 26, 2022
by Marlena Haddad on 2022-01-26 at 11:46am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Okada Manila delivers 4Q results, exceeds EBITDA projections by 122%, and UAE approves first SPAC framework for GCC region

Okada Manila Delivers Exceptional Fourth Quarter and 2021 Results, Exceeding EBITDA Projections by 122%

26 Capital Acquisition Corp. (NASDAQ: ADER) today announced the fourth quarter and full-year 2021 financial performance of Okada Manila, the property operated by Tiger Resort, Leisure and Entertainment, a wholly owned subsidiary of UE Resorts International, Inc. 26 Capital Acquisition Corp. previously announced its plans to merge with UE Resorts International, Inc. later this year.

Fiscal year 2021 total revenue of $399.6 million exceeded prior forecasts by $82 million and increased 24% over 2020. Adjusted EBITDA for FY2021 topped projections by 122%, coming in at $46.8 million, or $72 million more than 2020, primarily due to a very strong performance in gaming in Q4 and as a result of significant cost reductions implemented by management.

READ

UAE Approves First SPAC Framework for GCC Region  

The UAE has approved the first SPAC regulatory framework for the Gulf Cooperation Council (GCC) region, following record activity for this funding approach over the last two years.

The Securities and Commodities Authority, the UAE’s market watchdog, says the framework paves the way for the first SPAC listing on the Abu Dhabi Securities Exchange (ADX) later this year.

READ

 

Recent Posts
by Nicholas Alan Clayton on 2024-04-18 at 11:50am

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...

by Nicholas Alan Clayton on 2024-04-18 at 7:57am

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...

by Nicholas Alan Clayton on 2024-04-17 at 3:05pm

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...

by Nicholas Alan Clayton on 2024-04-17 at 8:13am

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...

by Nicholas Alan Clayton on 2024-04-16 at 11:33am

Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved