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 Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
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...