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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At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...
Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
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...