Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Ecarx weighs $4B SPAC merger, road-side assistance firm Urgently in Graf merger talks, and Polestar unveils concept car
Geely-Backed Ecarx Weighs SPAC Merger at $4 Billion Value
Smart car technology company Ecarx Co., whose backers include Zhejiang Geely Holding Group Co., is considering seeking a U.S. listing via a merger with a blank-check company.
Ecarx is working with an adviser to explore a deal that could value the combined entity at about $4 billion. The company is weighing reaching out to regulators in the country for approval for a SPAC merger in order to satisfy new requirements unveiled in December.
READRoadside-Assistance Firm Urgently Said in Graf SPAC Merger Talks
Roadside-assistance startup Urgently has held talks to go public through a merger with Graf Acquisition Corp. IV (NYSE:GFOR).
A transaction features a potential PIPE, and could value the combined entity at more than $700 million.
READPolestar Unveils Concept Car Ahead of $20 Billion Public Debut
Polestar, the electric vehicle maker spun out of the Volvo corporate garage, is suggesting as much today as it pulls the cover off of a sporty concept car with a removable roof. The machine also features a drone onboard that can be launched while driving. It’s a car engineered for Instagram likes and, fittingly, it’s ready to influence autonomously and at speed.
Shareholders of Cannabis Co in Jay-Z Empire Can Sue Over de-SPAC Deal
For the second time in recent months, Delaware’s Chancery Court has ruled that shareholders can sue board members for breaching their duties in a de-SPAC deal.
On Monday, Vice Chancellor Morgan Zurn refused to dismiss a lawsuit by shareholders of Left Coast Ventures Inc, a privately-held cannabis company that was acquired in 2021 by Subversive Capital Acquisition Corp. Subversive subsequently partnered with entrepreneur Shawn Carter, better known as Jay-Z, to form The Parent Co, which bills itself as California’s leading cannabis business.
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Iron Horse Acquisitions Corp. II has filed for a $250 million SPAC with D. Boral Capital underwriting under its new name. D. Boral emerged in November from a messy dispute at the top of investment bank EF Hutton that was concluded with Joseph Rallo taking the EF Hutton trademark and departing the firm while David...
At the SPAC of Dawn This shortened trading week could be a rocky one as the market takes in the first wave of initiatives out of the new US administration and will have what are technically the first Trump 2.0 jobs numbers released on Thursday. It should be somewhat quieter for SPACs working through their...
Terms Tracker for the Week Ending January 17, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We may be heading into a Polar Vortex, but SPACs managed to generate some heat this week with three more IPOs. For those keeping count,...
Giving internet users a place to chat or post pictures of their lunch has never been an especially profitable endeavor until social media platforms gain the scale to leverage user data en masse like Meta (NASDAQ:META). But, the addition of retail investor appetites to the equation has suddenly turned even smaller platforms into a tantalizing...
At the SPAC of Dawn This week comes to a close with the debut of the year’s fourth SPAC IPO as Hennessy Capital Investment Corp. VII (NASDAQ:HVIIU) priced last night. This brings the month’s total IPO proceeds to $597.5 million, which is already a drastic year-on-year improvement from January 2023, which saw just $144 million...