Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Eni considers listing SPAC to target energy-transition businesses, and Velodyne shares rise following Amazon investment
Eni Said to Weigh Listing SPAC to Target Clean-Energy Deal
Eni SpA is considering listing a SPAC that could target energy-transition businesses, according to Bloomberg.
The Italian oil and gas firm is working with partners on plans for the blank-check company and is in the early stages of testing investor appetite. It has been studying potential listing venues including London.
READVelodyne Lidar Shares Rise After Amazon Investment
Velodyne Lidar (NASDAQ:VLDR) surged over 50% in extended-hours trading after the company reported that Amazon had made an investment. The California-based company, which makes sensors for autonomous cars, said it planned to issue a warrant for an Amazon subsidiary to buy almost 39.6 million shares.
Amazon will get a board observer in return, as long as its stock stays above roughly 12.3 million shares, and the deal will come with a “standstill agreement.” Velodyne saw its shares rise 58% to $5.95 in the after-hours trading.
Velodyne has been trading publicly since 2020 following its merger with Graf Industrial Corp.
REAL
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...
At the SPAC of Dawn As April’s sleepy month for SPAC news continues, there is only one special meeting on the docket to consider a SPAC deal approval, that being today’s vote on Pegasus Digital Mobility‘s (NYSE:PGSS) combination with equipment manufacturer Schmid. Three more SPACs are facing extension votes this week, including Pyrophyte (NYSE:PHYT), whose...
Terms Tracker for the Week Ending April 19, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Passover and school spring break starts next week, which most likely means a slowdown in SPAC filing activity. Although Churchill IX is now rumored to...
Despite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...