Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Forge Global soars first day of trading, and Firefly eyes SPAC deal
Blythe Masters SPAC Merger Sends Forge Global Stock Soaring
Forge Global Holdings Inc. (NYSE:FRGE) soared in the first day of trading after completing its tie-up with a blank-check company led by Blythe Masters, the former JPMorgan Chase & Co. executive who helped create credit default swaps.
Shares of the private-securities marketplace gained as much as 166% in Tuesday trading on the New York Stock Exchange. It’s the first session for Forge Global after it combined with Motive Capital Corp. Masters, who was Motive’s chief executive officer, will remain on the board of the combined entity.
READFresh Off Dramatic Majority Shareholder Exit, Firefly Could Be Headed for a SPAC
Firefly Aerospace’s roller coaster ride could soon send the rocket startup to the public market via a merger with a SPAC, a recent filing with the FCC suggests.
Aerospace private equity firm AE Industrial Partners (AEI) announced last month that it had reached an agreement to acquire a “significant stake” in Firefly after its largest shareholder, Ukrainian Max Polyakov, was forced to sell his shares over national security concerns. A recent FCC filing provides new details of the deal, including that it involves a special purpose acquisition vehicle.
READBuzzFeed Announces Staff Reduction as its Top Editors Resign
BuzzFeed (NASDAQ:BZFD) is cutting staff as its profits declined, CEO Jonah Peretti said in a conference call with analysts and investors March 22. Editor-in-Chief Mark Schoofs resigned along with two other senior editors.
Earnings before taxes and other costs fell 12 percent in the quarter ending Dec. 31 compared to the previous year, and perhaps more alarmingly for the company, time spent on the website fell 4 percent, BuzzFeed said in its quarterly earnings statement. The company projected earnings to decline in the first quarter of this year as well.
BuzzFeed went public in December through a special purpose acquisition company merger with 890 Fifth Avenue Partners. Some employees walked out on the day of the SPAC vote, protesting the company’s failure to accommodate the union’s wage negotiation demands.
READRenewable Propane Partnership for LanzaTech and SHV Energy
SHV Energy and LanzaTech today announced a new strategic partnership to employ LanzaTech’s Carbon Capture and Transformation technology to bring renewable propane and other sustainable fuels to the market via existing and novel pathways. The collaboration will be dedicated to further expanding LanzaTech’s existing CCT technology and synthetic biology platform which transform waste carbon into sustainable fuels and other materials such as fabrics, packaging, and other products.
AMCI II (NASDAQ:AMCI) entered into a definitive agreement to combine with sustainable materials-maker LanzaTech at an enterprise value of $1.82 billion earlier this month.
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Terms Tracker for the Week Ending May 23, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Another solid week for SPAC IPO trading. Five more IPOs priced, bringing May’s total to 18 and the YTD tally to 49. That’s just eight...
Pelican Acquisition Corp. (NASDAQ:PELIU) announced the pricing of its $75 million IPO and its units began trading on the Nasdaq under the symbol “PELIU”, Friday, May 23, 2025. The new SPAC aims to combine with a technology company with a defensible market position that would benefit from being publicly traded in the US. Pelican’s management...
Cohen Circle II (NASDAQ:CCIIU) has filed for a $220 million SPAC marking the second wave of the Betsy Cohen team’s return to the market in the burgeoning 2024/2025 cycle. The new SPAC brings slightly less warrant coverage than its predecessor Cohen Circle I (NASDAQ:CCIR) with a 1/4 warrant in each of its units as opposed...
A Paradise (NASDAQ:APADU) has filed for a $200 million SPAC to get a fresh Asia-focused vehicle on the road with a leader that has steered several SPACs before. The new SPAC continues underwriter Cohen & Company’s warpath as its 15th SPAC put on file this year, with the firm’s 12th SPAC IPO debut set for...
On this week’s SPACInsider REPLAY, we revisit a 2022 conversation with Harry Sloan of the Eagle SPACs. At the time, Harry had already completed seven SPACs and was closing in on his eighth. As markets cooled and the SPAC boom waned, Harry offered a prescient take on where the market was headed—and what a “post-boom”...