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 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...
Despite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...
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...