The Latest SPAC News and Rumors: March 23, 2022
by Marlena Haddad on 2022-03-23 at 12:04pm

 


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.

READ

Fresh 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.

READ

BuzzFeed 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.

READ

Renewable 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.

READ

 

Recent Posts
by Nicholas Alan Clayton on 2024-03-28 at 1:35pm

News and Rumors PR: Bannix (NASDAQ:BNIX) has provided more information on the combination with VisionWave that it announced yesterday, specifying that the imaging technology that VisionWave will acquire from GBT Technologies will primarily seek out applications in military combat scenarios and geological surveys. PR: Grove Collaborative (NYSE:GROV), which combined with Virgin Group II in June...

by Nicholas Alan Clayton on 2024-03-28 at 7:47am

At the SPAC of Dawn Fed Chair Jerome Powell has given new hints that the administration would be showing greater levels of comfort with inflation if a cut could help improve unemployment numbers. Those numbers could get an update today at 8:30 am ET to bring new jobless claims as well as final prices for...

by Nicholas Alan Clayton on 2024-03-27 at 1:31pm

News and Rumors CNBC: Former WeWork (OTC Pink:WEWKQ) founder Adam Neumann has offered to buy back control of the company for $500 million but has yet to secure the necessary financing. WeWork went public with BowX in October 2021. PR: Satellite telecom firm Spire Global (NYSE:SPIR) has signed an agreement to build and launch two...

by Nicholas Alan Clayton on 2024-03-27 at 11:38am

Bannix (NASDAQ:BNIX) has entered into a definitive agreement to combine with VisionWave Technologies for $30 million. The combined company is expected to trade on the Nasdaq once the deal is completed with an initial outside date of September 14. Transaction Overview Bannix has about $17 million in its trust after seeing 77.4% of its shares...

by Nicholas Alan Clayton on 2024-03-27 at 7:33am

At the SPAC of Dawn Much of the attention yesterday was on tracking the swings of the newly-completed Trump Media (NASDAQ:DJT) deal with the FT going as far to suggest it may “make SPACs great again.” Not all of the day’s data points were on the positive side of the ledger, however. IB Acquisition Corp....

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved