Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: New SPAC ETF plots Wall Street launch, Singapore SPAC plans merger with EUDA Health, and SeatGeek announces record fourth quarter
New SPAC ETF Plots Wall Street Launch Even as the Market Craters
A new exchange-traded fund is on the way looking to tap the once red-hot SPAC market, even as investor enthusiasm for blank-check firms sputters and existing products stumble.
The actively managed RiverNorth SPAC Focus ETF would invest in SPACs before they merge with their targets, according to a filing with the Securities and Exchange Commission this week.
READSPAC Listing in US on the Cards for S’pore Digital Healthcare Platform EUDA
Singapore-based special purpose acquisition company 8i Acquisition 2 Corp is planning a business combination with home-grown digital healthcare platform EUDA Health.
EUDA, founded by Singapore doctor Kelvin Chen in 2017, uses its proprietary artificial intelligence-driven healthcare analytics platform to digitally connect patients, insurers, and medical professionals to optimize patient care.
SeatGeek Announces Record Fourth Quarter and Fiscal 2021 Financial Results
SeatGeek, the tecology platform that is transforming the live-event experience for fans, teams, and venues, today announced record financial results for the fourth quarter and fiscal year ended December 31, 2021.
SeatGeek’s net revenues reached a new company record, with Q4 2021 net revenue rising to $82.5 million, up approximately 45% from $56.8 million in Q3 2021 and versus $4.8 million in Q4 2020, when most live events were suspended or cancelled due to the global COVID-19 pandemic. Gross profit of $47.6 million in Q4 2021 was also a company record, up approximately 34% from $35.4 million in Q3 2021.
As previously announced, SeatGeek entered into a Business Combination Agreement with RedBall Acquisition Corp., a publicly traded special purpose acquisition company (NYSE:RBAC).
READMSP Recovery Announces Significant Progress Towards Settlements and Strategic Alliance
MSP Recovery, LLC, a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery leader, which has previously announced a planned business combination with Lionheart Acquisition Corporation II (Nasdaq: LCAP), today announced significant progress toward securing recoveries from its portfolio of assigned claims, representing an estimated $364 billion in Paid Amount.
MSP Recovery is announcing new strategic alliances with leading law firms Milberg Coleman Bryson Phillips Grossman, PLLC and Rivero Mestre, LLP , who are each committing significant resources to litigating more reimbursement recovery cases for MSP Recovery.
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Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...
At the SPAC of Dawn Ever since Digital World announced its combination with Trump Media (NASDAQ:DJT) back in October 2021, it was clear that SPACworld and the Trump show were set to be intertwined for quite some time. And, although not every headline has a bearing on the wider SPAC world, Trump Media’s post-close rise...
AltC (NYSE:ALCC) has reportedly been taking the pitch deck for its combination with nuclear fission firm Oklo on the road in recent weeks, which has generated the rare result of a SPAC trading significantly above its trust value still well before completing its deal. The SPAC has an estimated $10.59 per share in its trust...
Trump Media (NASDAQ:DJT) is down about -15% in the pre-market following the filing of its first S-1 since closing its combination with Digital World, and this includes the issuance of the 21,491,251 shares. Of these, 14,375,000 are to be made available for those exercising warrants while the rest would go out to note holders from...
At the SPAC of Dawn This week, bookended by the end of Ramadan and the beginning of Passover, could wind up stacked with events to avoid those holiday times, but for now SPACs have scheduled just six extension votes for this stretch. Redwood (NASDAQ:RWOD) and Genesis Growth Tech (OTC:GGAAF) have yet to release results from...