Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Hedge fund bets against SPAC tied to Trump, Indian government eyes SPAC framework to enable new listing route, and Rezolve partners with Computop
Hedge Fund Bets Against a SPAC Tied to Trump After Truth Social ‘Disaster’
Hedge fund Kerrisdale Capital Management is betting against the shell company tied to Donald Trump, wagering that it will fail to get regulatory approval to merge with his media company and take it public.
Shares of Digital World Acquisition Corp. (NASDAQ:DWAC) have more room to fall, according to a report Wednesday from Kerrisdale announcing its short position. DWAC gave misleading statements in registration documents and the high-profile nature of its potential combination with the former president’s company, Trump Media & Technology Group, is an “ideal way” for regulators to send a message to the broader industry, it said.
READIndian Government Eyes SPAC Framework to Enable New Listing Route
The Indian government is looking at putting in place a regulatory framework for SPACs in the statutes to aid the possible listing of Indian companies in the country. The Company Law Committee, which submitted its report on a fresh set of amendments to the Companies Act, has suggested introduction of enabling provisions in the law to list a SPAC on domestic or international exchanges.
The panel has gone on to suggest that the provisions allowing Indian companies to list directly on overseas exchanges should be operationalized. While Parliament allowed the move, the revenue department has refused to address issues related to taxation.
READRezolve and Computop Announce Strategic Partnership on Mobile Engagement and Payments, Extending Rezolve’s Presence in German Markets and Beyond
Rezolve, a leader in mobile commerce and engagement, and Computop, a leading payment service provider, today announced a strategic partnership agreement to combine their respective strengths in mobile engagement and payment processing to improve service for users of both globally.
On December 17, 2021, Rezolve announced that it had entered into a definitive business combination agreement with Armada Acquisition Corp. I (NASDAQ: AACI).
READCohen & Co. Capital Markets Hires Ex-Deutsche SPAC Banker Sun
Cohen & Co. Capital Markets, an arm of JVB Financial Group LLC, hired Brandon Sun, a former Deutsche Bank AG banker specializing in special purpose acquisition companies, according to Bloomberg.
Sun, who is based in New York, is slated to start in coming weeks as a managing director reporting to Jerry Serowik, the firm’s head of capital markets and a Wells Fargo & Co. (NYSE:WFC) alum.
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Terms Tracker for the Week Ending January 24, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. The January SPAC IPO count is now five, following A.G.P.’s pricing this week of the $60 million Columbus Acquisition Corp. Plus, two more SPACs filed...
Soulpower Acquisition Corp. (NYSE:SOUL.U) has filed for a $200 million SPAC to seek out insurance and financial services targets with a fresh, young team and surprisingly robust terms. This new SPAC will not overfund its trust and will have 24 months to seek out a business combination, which sets the bar high already for a...
At the SPAC of Dawn An increasing number of SPACs filing to IPO over the past year have given themselves expanded leeway to withdraw a portion of the interest accrued on the trust account for their own working capital needs. But, not all SPACs in circulation have been making use of that allowance, at least...
At the SPAC of Dawn As the market awaits the first jobs report of the new administration, more signs of shifts in the marketplace are emerging as various businesses either cozy up to or distance themselves from the White House. In particular, the closeness of Elon Musk to President Trump has given the opportunity for...
Columbus Acquisition Corp. (NASDAQ:COLAU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “COLAU”, Thursday, January 23, 2025. The new SPAC intends to conduct a broad search for a target company without a focus on any particular industry or geography. Columbus’ sponsor...