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.
READD-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).
READPropertyGuru 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.
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Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...
At the SPAC of Dawn As April’s sleepy month for SPAC news continues, there is only one special meeting on the docket to consider a SPAC deal approval, that being today’s vote on Pegasus Digital Mobility‘s (NYSE:PGSS) combination with equipment manufacturer Schmid. Three more SPACs are facing extension votes this week, including Pyrophyte (NYSE:PHYT), whose...
Terms Tracker for the Week Ending April 19, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Passover and school spring break starts next week, which most likely means a slowdown in SPAC filing activity. Although Churchill IX is now rumored to...