Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: SoFi launches new cryptocurrency feature and Forge debuts on NYSE, posing fresh test to SPAC-led exits
SoFi Launches No-Fee Cryptocurrency Purchases for Direct Deposit Members
SoFi Technologies, Inc. (NASDAQ:SOFI), the digital personal finance company, today announced members will now be able to invest part of every direct deposit into cryptocurrency with zero fees. This feature builds on SoFi’s robust offerings for Checking and Savings accounts, which already includes no account or overdraft fees, up to two-day early paycheck and an industry-leading 1.00% annual percentage yield (APY).
Members will be able to set a recurring purchase for the cryptocurrency of their choice with each paycheck for no purchase fee, investing either by dollar amount or percentage of their deposit, into one of 30 coins.
Social Capital Hedosophia Holdings Corp. V completed its combination with fintech platform SoFi on May 28, 2021.
READForge’s Public Debut Today Will Pose Fresh Test to SPAC-Led Exits
Forge Global (NYSE:FRGE) will begin to trade on the New York Stock Exchange today, having completed its merger with Motive Capital Corp as part of a SPAC combination.
The company’s combination and flotation will provide a data point regarding market appetite for such deals, and the company’s stock price will also reflect, to some degree, the level of investor optimism in other companies not going public.
READAt 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...
At the SPAC of Dawn As April’s sleepy month for SPAC news continues, there is only one special meeting on the docket to consider a SPAC deal approval, that being today’s vote on Pegasus Digital Mobility‘s (NYSE:PGSS) combination with equipment manufacturer Schmid. Three more SPACs are facing extension votes this week, including Pyrophyte (NYSE:PHYT), whose...