Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Hong Kong’s OneDegree approached by SPAC, ADQ and Chimera Capital set up Abu Dhabi’s first blank-check company, and Infinite Reality buys ReKTGlobal
Hong Kong’s OneDegree Says It’s Been Approached on SPAC Listing
OneDegree, a Hong Kong-based insurer of digital assets, has been approached by investment banks about going public through a blank-check company, its co-founder said.
The firm, one of four with a so-called virtual insurer license in Hong Kong, expects to carry out a funding round in coming months to finance expansion, Alvin Kwock said in an interview without giving specifics. He said no decision has been made on whether to merge with a SPAC. OneDegree raised $28 million in August.
READADQ and Chimera Capital Set Up Abu Dhabi’s First SPAC
Abu Dhabi state holding firm ADQ and investment firm Chimera Capital have set up a blank-check company that will raise 367 million dirhams ($99.93 million) and list in the capital, according to a statement on Tuesday.
The United Arab Emirates’ Securities and Commodities Authority in January approved a regulatory framework for blank-check firms.
READInfinite Reality to Buy ReKTGlobal, Aims to Raise $150 Million
Infinite Reality Inc., which has inked a deal to go public through a merger with Universal Security Instruments Inc. (NYSE:UUU), has agreed to acquire ReKTGlobal, an esports startup that abandoned a prior plan to combine with Bull Horn Holdings Corp. (NASDAQ:BHSE).
Infinite Reality, formed through the merger of Display Social and production company Thunder Studios, is valued at $2 billion, Chief Executive Officer John Acunto said in an interview. It plans to expand ReKTGlobal’s brands including League of Legends’ Rogue and Call of Duty League’s London Royal Ravens into the metaverse, potentially through the creation of esports stadiums and skyboxes, Acunto said.
READBlank-Check Firm Backed By Bain Capital Affiliate Scraps U.S. IPO Plans
A blank-check vehicle backed by venture capital firm Bain Capital’s affiliate has withdrawn plans for a U.S. initial public offering, according to a regulatory filing on Tuesday, joining a slew of companies that have canceled listings this year.
The withdrawal from Bain Capital Credit’s BCC Investment Corp comes amid volatility in the U.S. markets due to heightened geopolitical tensions and rate hike concerns.
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Terms Tracker for the Week Ending June 13, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. This week brought three new SPAC IPOs with pricings from BEST SPAC I Acquisition Corp., Blue Acquisition Corp. and Blue Water Acquisition Corp. III. All...
Starry Sea (NASDAQ:SSEAU) has filed for a $50 million SPAC with leadership that is making its debut as SPAC officers and a broad search mandate. The new SPAC is offering investors one right to a 1/6 share in each unit and a redemption opportunity coming at the end of its 15-month initial transaction deadline if...
At the SPAC of Dawn Israel’s bombing of sites in Iran has brought a new injection of uncertainty to the markets, which appear poised to open in the red. But, this may be a temporary factor after the week has also produced better-than-expected indicators on inflation. One more data point is set to come in...
Best SPAC I Acquisition Corp. (NASDAQ:BSAAU) announced the pricing of its $55 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “BSAAU”, Friday, June 13, 2025. The new SPAC plans to combine with a consumer goods company with a total enterprise value between $100 million and $600 million....
Blue Acquisition Corp. (NASDAQ:BACCU) announced the pricing of its $175 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “BACCU”, Friday, June 13, 2025. The new SPAC intends to combine with a target company within a manufacturing company or data center that aligns with green energy initiatives and...