Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Eni adds six banks for IPO of $11 billion renewables unit, DWAC surges after Truth Social launch, and Gulf Capital considers SPAC with Abu Dhabi listing
Eni Adds Six Banks for IPO of $11 Billion Renewables Unit
Eni SpA has picked six more banks to work on the IPO of its retail and renewables unit Plenitude, which could be valued at about 10 billion euros ($11.3 billion).
The Italian energy giant has hired Barclays Plc, Bank of America Corp., BNP Paribas SA, Deutsche Bank AG, Equita Group SpA and UniCredit SpA as bookrunners for the Milan IPO, which could kick off as soon as May.
Eni SpA announced earlier this month that it is considering listing a SPAC that could target energy-transition businesses.
READTrump-Linked SPAC’s Shares Surge After Truth Social App Tops Apple Downloads
Shares of Digital World Acquisition Corp (NASDAQ:DWAC), the blank-check company behind former U.S. President Donald Trump’s new social media venture, Truth Social, surged nearly 30% in premarket trading on Tuesday as the app climbed the charts after its debut on Apple’s App Store.
Digital World’s shares jumped 26% to $106.44 and were on track to open at levels last seen in October, days after Digital World announced a deal to publicly list Trump Media & Technology Group (TMTG), the venture behind Truth Social.
READGulf Capital Considering SPAC With Abu Dhabi Listing
Abu Dhabi asset manager Gulf Capital is considering setting up a SPAC that will list on the Abu Dhabi Securities Exchange.
Gulf Capital, which manages about $2.5 billion in assets, is working with boutique advisory Moelis & Co on the potential transaction.
READDonald Trump’s New Social Media App Shows Errors on Launch Day
Donald Trump’s new social media network, Truth Social, got off to a rocky start on its launch day, with some users being unable to register and others receiving error messages.
Trump Media & Technology Group, which aims to take on big tech companies with offerings from social media to streaming, launched Truth Social to give the former U.S. President a platform after he was banned from Twitter and Facebook.
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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...
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...
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....
News and Rumors SpaceNews: Boeing (NYSE:BA) has sued Virgin Galactic (NASDAQ:SPCE) alleging the space tourism venture refused to pay $25 million it owed for design work and violated Boeing’s intellectual property rights. Virgin Galactic combined with Social Capital Hedosophia in 2019. Bloomberg: The most popular options contract for Trump Media (NASDAQ:DJT) predicts it to plunge...
APx (NASDAQ:APXI) has entered into a definitive agreement to combine with precision medicine firms OmnigenicsAI and MultiplAI at an enterprise value $340 million. Once combined, these companies will offer DNA tests to consumers linked to predictive insights on their nutritional and genomic health. The combined company is expected to trade on the Nasdaq under the...