Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Dune SPAC sues TradeZero, Tiket mulls Blibli merger before Jakarta IPO, and BlackSky looks to expand military business
Dune SPAC Sues TradeZero for ‘Outright Falsehoods’ About Merger
Dune Acquisition Corp. (NASDAQ:DUNE) and its backers filed suit in Delaware, claiming brokerage platform TradeZero Holding Corp. duped them into a $556 million reverse merger before “trying to run out the clock on the transaction” and stick the blank-check company with the substantial cost of calling it off.
The lawsuit, made public late Wednesday, accuses TradeZero and its senior leaders of defrauding Dune into the deal with bogus financial figures and “stonewalling” its request for an update before pulling a “last-minute bait and switch” that completely undermined the merger’s logic.
READTiket Said to Mull Blibli Merger Before $1 Billion Jakarta IPO
Tiket.com, an Indonesian online travel booking company, is considering a merger with e-commerce platform Blibli after talks with a blank-check company fell through.
The travel firm could join with PT Global Digital Niaga, as Blibli is formally known, ahead of a planned initial public offering in Jakarta. A first-time share sale for the combined firm could raise about $1 billion. Both companies count Indonesian conglomerate Djarum Group as a backer.
READBlackSky Looks to Expand its Military Business Amid Growing Interest in Commercial Satellite Imagery
Amid a surge in demand for satellite imagery, BlackSky (NYSE:BKSY) is looking to expand its national security and defense business, CEO Brian O’Toole told SpaceNews.
“The Defense Department is interested in tactical ISR [intelligence, surveillance and reconnaissance] from space,” he said. “There’s quite a bit of opportunity there. ISR is clearly becoming a priority and commercial capabilities have a role to play.”
BlackSky in September became a publicly traded company after closing a merger with Osprey Technology.
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FIGX Acquisition Corp. (NASDAQ:FIGXU) announced the pricing of its $131 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “FIGXU”, Friday, June 27, 2025. The new SPAC aims to seek out a financial services target with a particular focus on wealth and asset managers with the potential to...
Yorkville Acquisition Corp. (NASDAQ:YORKU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “YORKU”, Friday, June 27, 2025. The new SPAC plans to combine with a target company in the telecom, media or technology sectors. Yorkville Acquisition Corp.’s management team is led...
At the SPAC of Dawn As pressure on Fed Chairman Jerome Powell increases, the market is set to ingest a raft of new indicators today as well as hear from Cleveland Fed President Beth Hammack on the potential interest rate path. Today will also see June’s 8th SPAC IPO as Cantor Equity Partners III Inc....
Cantor Equity Partners III Inc. (NASDAQ:CAEP) announced the pricing of its upsized $240 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “CAEP”, Thursday, June 26, 2025. The new SPAC plans to combine with a target company in an industry where its management has relevant expertise such financial...
Launch One (NASDAQ:LPAA) has entered into a definitive agreement to combine with biotech firm Minovia Therapeutics at a $180 million pre-money valuation. Haifa, Israel-based Minovia is developing a drug platform based on mitochondrial cell therapies to potentially treat rare disorders as well as the effects of aging and other causes of bodily degeneration. The combined...