Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Anghami soars on debut following SPAC merger, and new SPAC raises $200 million on Amsterdam Exchange
Mideast Spotify Rival Anghami Soars on Debut After SPAC Merger
Middle Eastern Spotify Technology SA rival Anghami (NASDAQ:ANGH) surged as much as 82% on its Nasdaq debut following its merger with a blank-check firm, even after all but a handful of investors opted to return their shares in exchange for cash.
Anghami shares opened at $17.91 on Friday, before paring some of the gains to trade around $12. It’s the first Arab technology company to list on Nasdaq and its debut comes a day after Spotify’s shares tumbled in the U.S. after disclosing a slowdown in growth, following a month of controversy involving podcast host Joe Rogan.
Vistas Media shareholders approved of its business combination with Anghami on January 20.
READNew SPAC Raises $200 Million on Amsterdam Exchange, First in 2022
A SPAC, Luxembourg-based GP Bullhound Acquisition I SE, raised 200 million euros ($229 million) on Friday on the Amsterdam Euronext, the first SPAC listing on the exchange in 2022.
Bullhound was set up by co-founders Hugh Campbell, Manish Madhvani and Per Roman to buy a software, digital media, digital commerce or fintech company with a value of between 800 million euros and 2 billion euros that operates in Europe or Israel.
READIsraeli 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...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...