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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Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...