Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Ginkgo Bioworks Q4 revenues quadruple, and Volta sees sharp drop after founders resign
Ginkgo Bioworks Reports Fourth Quarter and Full Year 2021 Financial Results
Ginkgo Bioworks Holdings, Inc. (NYSE: DNA, “Ginkgo”), the leading horizontal platform for cell programming, today announced its results for the fourth quarter and year ended December 31, 2021.
Fourth quarter highlights include total revenue of $148 million, up from $32 million in the comparable prior year period, an increase of 363%, and foundry revenue of $34 million, up from $16 million in the comparable prior year period, an increase of 108%.
READVolta Plunges After Founders of EV-Charging Company Resign
Volta Inc. (NYSE:VLTA) dropped sharply after the electric-vehicle charging company announced the abrupt departures of two top executives, both of them founders of the firm. The resignations of Chief Executive Officer Scott Mercer and President Chris Wendel came a week after the San Francisco-based firm postponed reporting its latest quarterly earnings, although it was unclear if there was any connection between the events.
Volta fell 18% to $3.37 on Monday, after hitting an all time low earlier in the day. The company went public last year through a merger with Tortoise Acquisition Corp. II.
READMajor SPAC News, Rules May Be Coming This Week
On Thursday, March 24th, the Securities and Exchange Commission announced an agenda for a March 30th open meeting for the Divisions on Corporate Finance and Investment Management. The meeting has only one agenda item: SPACs, shell companies, and projections.
In December 2021, SEC Chair Gary Gensler compared SPACs to traditional IPOs, and noted that there may be different levels of disclosure provided to various parties involved in SPAC transactions. He further made reference to future regulatory action on SPACs.
READKhazna to Launch SPAC in 2024
Financial services startup Khazna is planning to establish a SPAC in collaboration with international investors in 2024, Khazna’s co-Founder and CEO Omar Saleh told Shorouk News.
The company is also seeking local and international initial public offerings (IPO), Saleh added.
READTransfix Launches New Brand Identity and Positioning Showcasing Leadership and Momentum in New Logistics Era
Transfix, the Intelligent Freight Platform™, today announced an updated brand identity and positioning reflecting the company’s leadership and momentum in the digital freight sector.
As announced on September 21, 2021, Transfix has entered into a definitive business combination agreement with G Squared Ascend I Inc. (NYSE: GSQD), a SPAC sponsored by affiliates of G Squared, that is expected to result in Transfix becoming a publicly listed company.
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At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...