Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Billionaire Francois Pinault and partners set to buy Deezer in $1.1B deal, Singapore SPACs draw investor interest, and Lilium hit with investor lawsuit
Billionaire Francois Pinault and Partners Are Set to Buy Deezer in a $1.1 Billion Deal
Billionaire Francois Pinault and the other founders of a blank-check firm are buying music-streaming platform Deezer in a deal valued at more than $1 billion.
The family office of Kering SA founder Pinault, as well as two other founding members of I2PO, a blank-check firm that listed in Paris last year, said Monday they would acquire the French company for an enterprise value of 1.075 billion euros ($1.16 billion) and take it public.
The combined entity is raising at least 120 million euros with the original investors as well as new ones and plans to list Deezer in Paris around July once the deal closes.
READSingapore SPACs Still Draw Investor Interest Despite ‘Challenging’ Environment, Says Exchange Executive
Investors still have an appetite for SPACs listed in Singapore despite a “more challenging” environment for the investment vehicles this year, according to the head of the Singapore Exchange’s regulatory arm.
Singapore and Hong Kong both introduced new rules last year to allow the blank check companies to go public on their bourses amid a fervor for the listings among investors and sponsors that saw more than US$162 billion raised by the vehicles globally in 2021.
Electric Aircraft Vehicle Developer Hit By Investors Lawsuit After Research Report Sinks Shares
Investors hit Germany-based Lilium (NASDAQ:LILM), developer of electric aircraft capable of taking off and landing vertically, with a securities class action following the release of a research report that questioned the company’s technology and sent its stock plummeting 34%.
According to the complaint filed Monday in Los Angeles, Lilium’s management misled investors last year about the capacity of the seven-seat jet the company is developing and about when the aircraft will be ready for commercial production.
Qell Acquisition Corp. completed its combination with renewable electric vertical take-off and landing jet maker Lilium in September 2021.
READComera Life Sciences and Intas Pharmaceuticals Announce Research Collaboration
Today, Comera Life Sciences, Inc. and Intas Pharmaceuticals Ltd. announced a research collaboration to develop a new generation of bio-innovative biologic medicines to improve patient access, safety, and convenience.
On January 31, 2022, Comera Life Sciences and OTR Acquisition Corp. (Nasdaq: OTRA), a publicly traded special purpose acquisition company (SPAC), announced a proposed business combination.
READ
At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...