The Latest SPAC News and Rumors: March 18, 2022

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.

First 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.