Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: D-Orbit announces upcoming launch, Hong Kong sees increased interest in SPACs, and Skadden hires SEC veteran who oversaw SPAC enforcement
D-Orbit Announces Upcoming Launch of SPACELUST, its Fifth ION Satellite Carrier Mission
D-Orbit, the space logistics and orbital transportation company, announced today the upcoming launch of SPACELUST, the fifth mission using the Company’s proprietary ION Satellite Carrier (ION), a flexible and cost-effective orbital transfer vehicle (OTV) spacecraft designed both to precisely deploy satellites and perform technology demonstrations of third-party payloads in orbit.
On January 27, 2022, D-Orbit entered into a business combination agreement with Breeze Holdings Acquisition Corp. (NASDAQ: BREZ).
READAsia’s SPAC Godfather Expects Bumper Harvest in Hong Kong
Jason Wong, one of the first financiers to file for a SPAC listing in Hong Kong, said at least 40 blank-check companies may list in the city this year.
Wong, dubbed by local media as “the godfather of SPACs in Asia,” said he’s seeing a ton of interest from Chinese dealmakers looking to start their own special purpose acquisition companies in the financial hub. While Hong Kong’s first SPAC was hurt by the recent market turmoil, there will be “huge” demand from promoters to launch more offerings if sentiment improves, Wong said.
READHong Kong SPACs Backed by Star Promoters That Include An Olympian, Former Central Banker
An Olympian, a former central banker, a tycoon, medical experts, and veteran investment bankers are among the star promoters of the first group of SPACs in Hong Kong.
The 11 SPACs that have applied to list in Hong Kong cover a wide range of industries and professions, including consumer, health care and TMT, as well as new energy banking and finance, seen as important to the development of SPACs in Hong Kong.
READLawrence Ho Files For SPAC Listing In Hong Kong
Black Spade Asia Acquisition, which is co-promoted by billionaire Lawrence Ho Yau-lung’s private investment firm Black Spade Capital, filed to list in Hong Kong yesterday as a SPAC.
Its other promoter is BOCHK Asset Management, a subsidiary of the state-owned commercial bank BOCHK.
Ho is the chief executive of Melco International Development and Melco Resorts & Entertainment, the casino operator. The SPAC intends to target companies in Greater China that are related to the entertainment, lifestyle and healthcare industry, with UBS being the sole sponsor for the proposed offering
READSkadden Hires SEC Veteran Bandy Who Oversaw SPAC Enforcement
Anita Bandy, who in July oversaw a first-of-its-kind enforcement action against a special purpose acquisition company for the U.S. Securities and Exchange Commission, has joined Skadden, Arps, Slate, Meagher & Flom as a partner.
Bandy joins Skadden’s Washington office from her position as associate director in the SEC’s headquarters, where she managed a large docket of enforcement matters.
She oversaw charges brought against space transportation company Momentus Inc. (NASDAQ:MNTS) and SPAC Stable Road Acquisition Co., as well as sponsors of that deal and chief executive officers of the companies.
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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...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...
Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...