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.
Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At 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...