Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Satellogic announces launch of new satellites, crypto exchange Bullish eyes debut amid regulatory delays, and China bars mainland brokers from promoting SPACs
Satellogic Announces Upcoming Launch of Five New Satellites Onboard SpaceX Transporter-4 Mission
Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution satellite imagery collection, announced today it has shipped five satellites to be launched in early Q2 from Cape Canaveral. The launch will be part of SpaceX’s Transporter-4 mission onboard the highly flight-proven Falcon 9 reusable, two-stage rocket, under SpaceX’s Rideshare program.
CF Acquisition Corp. V shareholders approved its combination with orbital imagery company Satellogic in a special meeting held earlier this year on January 24.
READThiel-Backed Crypto Exchange Eyes Debut Amid Regulatory Delays
Crypto exchange Bullish is eyeing a public debut in the second quarter after regulatory delays kept the company backed by billionaires Peter Thiel and Richard Li from merging with a SPAC and listings shares at the end of last year.
Bullish extended the March deadline for its $9 billion tie-up with Far Peak Acquisition Corp. (NYSE:FPAC) to May on Tuesday as the agreement still awaits approval by the U.S. Securities and Exchange Commission. The deal is among a slew of crypto firms merging with SPACs that have been slowed down by regulatory reviews, including stablecoin operator Circle and Israeli crypto platform operator eToro Group. Setting up the exchange has been “hectic,” according to Tom Farley, chief of Far Peak and expected CEO of the combined company.
READChina Bars Mainland Brokers From Promoting SPAC Deals in Hong Kong
China’s securities regulator has barred the country’s investment banks it regulates from acting as promoters of blank-check firms in Hong Kong, cutting off a potentially lucrative business.
The China Securities and Regulatory Commission (CSRC) has decided to take the step, which was communicated to the mainland investment banks earlier this year, due to concerns over the risks associated with those vehicles.
READChinese Startups’ SPAC Listings Gather Pace As Tougher Offshore IPO Rules Loom
Capital-hungry smaller Chinese startups are vying for speedy offshore listings by merging with blank-check firms at a time when Beijing’s tighter scrutiny has slowed capital raising via overseas IPOs, company executives and bankers said.
As a string of SPACs hunt for targets to merge with, the startups see an opportunity to raise funds and get listed by cutting the time and regulatory rigor needed for traditional market debuts.
READOuster Introduces Chronos: The Best-in-Class Automotive Digital Lidar Chip
Ouster, Inc. (NYSE: OUST), a leading provider of high-resolution digital lidar sensors, today announced the introduction of the Chronos chip, an automotive-grade, fully custom digital lidar silicon receiver that will power its DF solid-state sensor suite. The state-of-the-art Chronos chip is the foundation of the DF architecture and enables Ouster to deliver more performant, power efficient, and compact digital lidar sensors that enable L2 to L5 automation in high-volume automotive series production vehicles.
Colonnade Acquisition Corp. completed its business combination with lidar-maker Ouster following a special meeting March 9, 2021.
READAt the SPAC of Dawn The biotech sector has represented a significant portion of SPAC dealflow over the past five years, but signs are showing that it may take some previously unanticipated hits from the transition to the new US administration. Ginkgo Bioworks (NYSE:DNA) struck one of 2021’s headline deals at a $15 billion valuation...
This week, in a special edition of the SPACInsider Podcast, we focus on the private markets with PM Insights founder and CEO Nick Fusco. Nick weighs in with his thoughts on the major trends shaping private market valuations today and how the market has evolved since the pandemic years. Plus, how difficult is it to...
At the SPAC of Dawn SPACs have been a frequent target of litigators over the past half-decade, but yesterday saw the unusual news of two de-SPACs teaming up for a court action of their own. The two are perhaps an unsurprising pair in conservative social media platforms Trump Media (NASDAQ:DJT) and Rumble (NASDAQ:RUM), but such...
Quartzsea (NASDAQ:QSEAU) has filed for a $60 million SPAC and is the latest to include contingencies on its underwriter fees to better align its interests with the target of a potential business combination. Underwriter SPAC Advisory Partners, which is a division of Kingswood Capital Partners, has capped its entire 4.0% deferred commission to any amounts...
At the SPAC of Dawn The shortest month of the year has sped past and is slated to host three SPAC completion votes before its conclusion. Several de-SPACs that have recently been darlings of retail investors are also set to report earnings before the month is through, beginning with digital health brand Hims & Hers...