Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: SPACs draw Kenya’s interest, Trump’s Truth Social falls 9% following Twitter’s deal with Musk, and Ripplewood launches Amsterdam SPAC listing
SPACs Draw Kenya’s Interest Just as Industry Goes Cold in U.S.
Kenya’s markets regulator is considering allowing blank-check firms to list on the local stock market in an attempt to spur initial share sales in East Africa’s biggest economy.
The last initial public offering in Kenya was in 2015 when Stanlib Fahari I-REIT sold securities, according to data compiled by Bloomberg. The Nairobi Securities Exchange’s All Share Index has fallen 7.5% this year.
READTrump’s Truth Social SPAC Down More Than 9% Following Twitter’s Deal With Musk
Shares of Digital World Acquisition Corp (NASDAQ:DWAC), the special purpose acquisition company that said it plans to take former President Donald Trump’s social media site Truth Social public, dropped more than 9% late Monday morning after reports emerged that Twitter was poised to accept an acquisition offer from billionaire Elon Musk.
The drop comes after DWAC shares were down 4% last week after Fox News denied reports it had created an account on Truth Social.
READBuyout Firm Ripplewood Launches Amsterdam SPAC Listing
U.S. private equity firm Ripplewood said on Tuesday it was planning to list a special purpose acquisition company in Amsterdam in what will be this year’s second listing of a blank check vehicle on the Dutch stock exchange.
Ripplewood’s SPAC, named RA Special Acquisition Corporation, will seek to raise up to $225 million ahead of its market debut on April. 28.
RA will focus on financial services targets in Europe and will have 24 months to clinch a deal. That window can be extended by six months if approved by a shareholder vote.
READNuScale Power Signs Memorandum of Understanding with GS Energy, Doosan, and Samsung to Explore Small Modular Reactor Deployment
NuScale Power LLC announced today it has signed a Memorandum of Understanding (MOU) with its partners, Samsung C&T Corporation (“Samsung”), Doosan Enerbility Co., Ltd. (“Doosan”), and GS Energy Corporation (“GS Energy”) to explore the deployment of NuScale’s VOYGR™ power plants. This announcement is a critical next step in bringing NuScale’s clean energy solution to Asia.
On December 14, 2021, NuScale announced a definitive business combination agreement with Spring Valley Acquisition Corp. (Nasdaq: SV, SVSVW).
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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...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...
At the SPAC of Dawn As April’s sleepy month for SPAC news continues, there is only one special meeting on the docket to consider a SPAC deal approval, that being today’s vote on Pegasus Digital Mobility‘s (NYSE:PGSS) combination with equipment manufacturer Schmid. Three more SPACs are facing extension votes this week, including Pyrophyte (NYSE:PHYT), whose...
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...