Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: WeWork in discussions for fresh equity raise, and Mark Ein-backed SPACs scrap IPO plans
WeWork Explores Fresh Equity Raise Amid Stock Slump
WeWork Inc. (NYSE:WE) is in discussions to raise new equity after the co-working company’s shares fell by more than half since its October public debut. The stock plunged to a record low on the news.
The talks were kick-started by investor interest and the capital raise may be structured as a PIPE. New York-based WeWork is looking at bringing in more than $200 million.
Led by Chief Executive Officer Sandeep Mathrani, WeWork made its public markets debut in October following a merger with BowX Acquisition Corp. The shares plunged as much as 24% Friday to $4.66, a record low.
READInvestor Mark Ein-Backed SPACs Scrap U.S. IPO Plans
Two blank-check vehicles backed by investor Mark Ein have withdrawn their plans for initial public offerings in the United States, according to regulatory filings on Friday, joining a slew of companies that have canceled listings this year.
The withdrawal by Capitol Investment Corp. VI and Capitol Investment Corp. VII comes at a time when volatility in the U.S. market has spiked, triggered by geopolitical tensions, rate hike concerns and uneven earnings.
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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...
At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...