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A blank-check vehicle backed by venture capital firm Bain Capital’s affiliate has withdrawn plans for a U.S. initial public offering, according to a regulatory filing on Tuesday, joining a slew of companies that have canceled listings this year.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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A Paradise Acquisition Corp. (NASDAQ:APADU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “APADU”, Wednesday, July 30, 2025. The new SPAC plans to identify a prospective target company in the leisure and entertainment sector that it believes has an optimistic growth...
As the SPAC market reset began last summer, many attributes of what constituted the typical SPAC template began to change. For one, rights came back in a big way. During the previous cycle, SPACs with warrants heavily outnumbered those with rights. Rights tended to be more commonly found in the units of smaller, Asia-based SPACs...
At the SPAC of Dawn Although last week was busy for new S-1 filings and deal announcements, it did mark a slowing of the pace in fresh IPOs. July had been producing a SPAC IPOs at a pace of essentially one per trading day, but that came to an abrupt halt after July 17. It...
Caedryn I (NASDAQ:CAEAU) has filed for a $60 million SPAC hunting for innovation with a repeat sponsor team from China. The new SPAC is offering investors one right to a 1/7 share in each unit and it has not overfunded its trust, but it will be contributing to shareholders if its target search reaches beyond...
At the SPAC of Dawn Healthcare spending represents about 18% of the US economy and the sector has been responsible for about a third of all employment growth in the country recently, but it is also an industry that seems to have fallen off of SPAC radars. Only one SPAC deal has been announced with...