The Latest SPAC News and Rumors: January 27, 2022
by Marlena Haddad on 2022-01-27 at 11:39am

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

Latest SPAC News: Eli Manning-backed SPAC pulls IPO and Singapore hosts third SPAC listing

Eli Manning-Backed Brand Velocity SPAC Pulls Plans for IPO

Brand Velocity Acquisition Corp., the blank-check firm whose advisers include former National Football League quarterback Eli Manning, dropped its plans for an initial public offering.

The SPAC asked to withdraw its registration for an IPO in a filing Wednesday with the U.S. Securities and Exchange Commission. The company filed last March to raise $200 million to seek a merger target, saying it planned to focus on “a branded consumer-facing businesses in North America.”

The SPAC is controlled by private equity firm Brand Velocity Partners, which was founded in 2019.

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Singapore Hosts Third SPAC Listing; Novo Tellus-Backed Firm Makes Debut

Southeast Asian industrial technology buyout fund Novo Tellus Capital Partners listed its SPAC in Singapore on Thursday, marking the third such IPO this month as the city-state seeks to become a hub for SPAC listings.

Novo Tellus Alpha Acquisition, which raised S$150 million ($111 million), traded at S$4.96 versus its IPO price of S$5 per unit. Each unit comprises one Class A share and one half of a warrant exercisable at S$5.75 per share.

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Recent Posts
by Nicholas Alan Clayton on 2024-03-28 at 1:35pm

News and Rumors PR: Bannix (NASDAQ:BNIX) has provided more information on the combination with VisionWave that it announced yesterday, specifying that the imaging technology that VisionWave will acquire from GBT Technologies will primarily seek out applications in military combat scenarios and geological surveys. PR: Grove Collaborative (NYSE:GROV), which combined with Virgin Group II in June...

by Nicholas Alan Clayton on 2024-03-28 at 7:47am

At the SPAC of Dawn Fed Chair Jerome Powell has given new hints that the administration would be showing greater levels of comfort with inflation if a cut could help improve unemployment numbers. Those numbers could get an update today at 8:30 am ET to bring new jobless claims as well as final prices for...

by Nicholas Alan Clayton on 2024-03-27 at 1:31pm

News and Rumors CNBC: Former WeWork (OTC Pink:WEWKQ) founder Adam Neumann has offered to buy back control of the company for $500 million but has yet to secure the necessary financing. WeWork went public with BowX in October 2021. PR: Satellite telecom firm Spire Global (NYSE:SPIR) has signed an agreement to build and launch two...

by Nicholas Alan Clayton on 2024-03-27 at 11:38am

Bannix (NASDAQ:BNIX) has entered into a definitive agreement to combine with VisionWave Technologies for $30 million. The combined company is expected to trade on the Nasdaq once the deal is completed with an initial outside date of September 14. Transaction Overview Bannix has about $17 million in its trust after seeing 77.4% of its shares...

by Nicholas Alan Clayton on 2024-03-27 at 7:33am

At the SPAC of Dawn Much of the attention yesterday was on tracking the swings of the newly-completed Trump Media (NASDAQ:DJT) deal with the FT going as far to suggest it may “make SPACs great again.” Not all of the day’s data points were on the positive side of the ledger, however. IB Acquisition Corp....

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