Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Swvl partners with Moove to rollout EV buses, and private equity firm PAG eyes $2B in Hong Kong IPO plan
Swvl and Moove Partner to Rollout EV Buses
Swvl, a global provider of transformative tech-enabled mass transit solutions, and Moove, the world’s first mobility fintech, today announced that they have entered into a partnership to scale Moove’s revenue-based vehicle financing model across the MENAP (Middle East, North Africa, and Pakistan) region, as well as expand vehicle classes to include electric buses. The partnership follows Moove’s recent $105 million Series A2 round.
Queen’s Gambit (NASDAQ:GMBT) entered into a definitive combination agreement with Swvl last year on July 28.
READPrivate Equity Firm PAG Seeks $2B From Listing as Hong Kong Widens IPO Market to SPACs, Non-Traditional Firms
PAG, one of Asia’s biggest private equity firms, is seeking a listing in Hong Kong to raise fresh funds as the stock exchange embraces more non-traditional entities such as blank-cheque firms to revive the struggling IPO market.
The investment firm, co-founded by Chinese deal maker Shan Weijian, submitted its application on Friday, according to exchange data. While it did not disclose any details, one market source said the initial public offering could raise up to US$2 billion to fund new deals.
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...
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...
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...
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...
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....