Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Hydrow raises $55 million, and first Hong Kong SPAC has slow start in trading debut
Hydrow Raises $55M as the At-Home Fitness Industry Faces a Post-Lockdown Reckoning
Hydrow, maker of a $2,500 connected rowing machine, said Thursday it has landed another $55 million in funding to fuel its growth while the at-home fitness industry undergoes a shakeout as consumers return to gyms after two years of Covid-related lockdowns and restrictions.
The Series D round brings its total funding to date to more than $255 million, the company said.
Last June, Hydrow was exploring pursing an initial public offering, or merging with SPAC Sandbridge X2 Corp. (NYSE:SBII) at a valuation of more than $1 billion.
READFirst Hong Kong-Listed SPAC Has Slow Start In Trading Debut
Aquila Acquisition Corp., the first SPAC to list in Hong Kong, had a slow debut Friday as few investors are qualified to trade the shares.
The SPAC closed 3.2% lower at HK$9.68 after a session marked by only a few trades. The firm backed by CMB International Asset Management and AAC Mgmt Holding raised about $128 million in the IPO with shares sold at HK$10 each, inaugurating rules for blank-check companies effective since January.
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Oxley Bridge Acquisition Limited (NASDAQ:OBAU) has filed for a $220 million SPAC with a focus on finding a consumer or technology target in an Asian country other than China. The new SPAC is not overfunded and offers a 1/2 warrant in each unit with 24 months to initially complete a business combination without an automatic...
At the SPAC of Dawn While the world was glued to the public falling out between Elon Musk and President Donald Trump yesterday with a mix of bemusement and surprise, the spat is not without its ramifications for de-SPACs and sectors that searching SPACs have favored. Trump leveled a threat toward Musk’s many government contracts...
Churchill IX (NASDAQ:CCIX) has entered into a definitive agreement to combine with autonomous trucking technology firm Plus at a pro forma enterprise value of $1.308 billion. Santa Clara, California-based Plus is developing software to autonomously drive heavy trucks that it expects to launch commercially in 2027. The combined company is expected to trade on the...
At the SPAC of Dawn Following yesterday’s ADP data reading showing that the US job market is cooling, the trading session is to begin today with an update on initial jobless claims, which had been expected to fall slightly. The market will also get trade deficit and productivity readouts before a pair of speeches by...
At the SPAC of Dawn Space has been one of the most promising sectors for SPAC deals in recent years with four of the 14 de-SPACs that closed deals dating back to 2019 now trading above $10 and two of these above $20. A new company is about to test the traditional route to market,...