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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Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At 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...