Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Spotify rival Deezer nears deal to go public, D-Orbit enters agreement with Beyond Gravity, and PropertyGuru beats adjusted EBITDA forecast
Deezer Negotiates Public Listing via Merger with French SPAC
French music streaming service Deezer is nearing a deal to go public by merging with I2PO, a SPAC backed by the family behind luxury titan Kering SA, according to The Wall Street Journal, as consumer demand for music continues to grow.
The Paris-based competitor to Spotify Technology SA and other music streamers has 16 million active users and is available in more than 180 countries, according to its website. Deezer offers listeners a catalog of more than 90 million songs, as well as podcasts, audio books and radio channels.READ
D-Orbit Enters Agreement with Beyond Gravity for the Supply of Space Rider Structural Components
D-Orbit, the space logistics and orbital transportation company, today announced the signing of a subcontract with space company Beyond Gravity, under which D-Orbit will deliver lightweight carbon fiber-reinforced polymer (CFRP) tools and metallic structural components for the European Space Agency’s Space Rider reusable space vehicle. The financial terms of the transaction were not disclosed.
As previously announced on January 27, 2022, D-Orbit has entered into a business combination agreement among Breeze Holdings Acquisition Corp. (“Breeze Holdings”) (NASDAQ: BREZ).READ
PropertyGuru Beats Adjusted EBITDA Forecast in Strong Full Year 2021 Performance
PropertyGuru Group Limited (NYSE: PGRU), Southeast Asia’s leading, property technology company, today announced the Company’s financial results for the full year ended December 31, 2021.
Total revenue increased by 22.7% to S$100.7 million, reflecting the rising confidence in Southeast Asia’s property market. PropertyGuru’s 2021 revenue exceeded its 2021 forecast of S$97.5 million.
Adjusted EBITDA was a loss of S$10.9 million with increased investments in hiring and marketing activities to position the business to emerge strongly from the pandemic. This was substantially better than the forecast of a loss of S$16.4 million as revenue upsides flowed through to Adjusted EBITDA and costs were tightly managed.
Bridgetown 2 Holdings Limited announced in March that its shareholders have voted to approve its combination with Asian proptech firm PropertyGuru.READ