Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Dubai’s Averda plans IPO after ditching SPAC talks, Truth Social back on top of Apple’s App Store, and springbig partners with Tymber
Dubai’s Averda Explores IPO After Ditching SPAC Merger Talks
Averda is exploring an initial public offering in Saudi Arabia or the United Arab Emirates, according to people familiar with the matter, the latest firm seeking to join a wave of listings in the Persian Gulf.
The Dubai-based provider of waste-disposal services held merger talks with U.S. blank-check firm Better World Acquisition Corp. (NASDAQ:BWAC) earlier this year, but those discussions have been abandoned.
READTrump-Tied SPAC Shares Roar Back With Truth Social No. 1 in App Store
Former President Donald Trump’s social network is back on top of Apple’s App Store, fueling a rebound in the blank-check firm bringing its parent company public.
Shares of Digital World Acquisition Corp. (NASDAQ:DWAC) leaped 24% Wednesday as thousands more users gained access to Truth Social’s full functionality and downloads jumped almost tenfold. The special-purpose acquisition company, which is merging with Trump Media & Technology Group, had slumped 60% in the previous two months or so.
READspringbig Partners With Tymber to Launch Fully Integrated Loyalty Rewards Feature
springbig, a leading provider of SaaS-based marketing solutions, consumer mobile app experiences, and omnichannel loyalty programs to the cannabis industry, today introduced its loyalty integration platform with Tymber, the industry’s most trusted e-commerce platform for digital growth. Retailers using Tymber and springbig can allow customers to opt into springbig-powered loyalty rewards and SMS marketing programs. Over time, shoppers can accrue points and directly redeem rewards through the Company’s website and Tymber’s mobile apps.
On November 9, 2021, springbig announced that it entered into a definitive agreement for a business combination with Tuatara Capital Acquisition Corporation (NASDAQ: TCAC), subject to closing conditions and shareholder and regulatory approvals.
READCity of Scranton, Pennsylvania Signs Three-Year Smart City Contract With Rubicon
Rubicon Technologies, LLC, a digital marketplace for waste and recycling and provider of innovative software-based solutions for businesses and governments worldwide, today announced that it has entered into a three-year smart city partnership with the City of Scranton, Pennsylvania to help enhance its residential waste and recycling services.
Rubicon previously announced an agreement for a business combination with Founder SPAC (Nasdaq: FOUN), which is expected to result in Rubicon becoming a public company listed on the New York Stock Exchange under the new ticker symbol “RBT” in the second quarter of 2022.
READBrivo Unveils Cross-Platform Smart Credential to Secure Operations Across a Range of Locksets and Readers
Brivo, a leading provider of cloud-based access control and smart building technologies that recently entered into a definitive merger agreement with Crown PropTech Acquisitions (NYSE: CPTK), today announced Brivo Unified Credential, a new cross-platform smart credential that is compatible with select wireless locks and Brivo Smart Readers to improve security while leveraging existing door locks and devices. Brivo Unified Credential allows property owners and managers to issue a single keycard or fob that operates with Brivo Smart Readers and select Schlage locks and the award-winning battery-powered Aperio locks from ASSA ABLOY.
READSwvl Announces Definitive Agreement to Acquire Zeelo to Become a Leading Global Mass Transit Tech Platform by Footprint, Expanding Footprint to USA & South Africa and Increasing Presence in UK
Swvl Holdings Corp (NASDAQ: SWVL), a global provider of transformative tech-enabled mass transit solutions, today announced a definitive agreement to acquire Zeelo, the UK’s largest smart bus platform and technology scale-up, measured by bookings. Joining forces with Zeelo builds upon Swvl’s recent successful acquisitions of Viapool and Shotl, and announced acquisitions of Volt Lines and door2door, and provides a launchpad to rapidly land and expand business operations in three strategic developed markets including the UK, South Africa and the US with Zeelo’s seasoned team of over 160 staff across the globe, including 29 software engineers based out of Zeelo’s R&D hub in Barcelona.
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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...