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.
READSingapore 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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At the SPAC of Dawn After a tepid month for SPAC activity in April, prominent teams are already scheduling things to make for some fireworks in early May. AltC (NYSE:ALCC) has already been turning heads as being the rare SPAC to trade significantly above trust value before close, and it has now booked the completion...
At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...
Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...