Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Transfix reports record first quarter results, Blockchain Coinvestors launches $200M fund, and Offerpad announces earnings
Transfix Reports Record First Quarter 2022 Results
Transfix, Inc., the Intelligent Freight Platform™, today announced record financial results for the first quarter of 2022.
Total revenue increased 50% from the first quarter of 2021, to $90 million and gross profit increased 28% from the first quarter of 2021, to $6.0 million. Adjusted gross profit increased 34% from the first quarter of 2021, to $6.6 million.
Early Wyre Backer Launches $200M Fund for ‘Mid-Growth’ Crypto
Blockchain Coinvestors, a blockchain investment firm with more than $450 million in assets under management (AUM), has launched a $200 million mid-stage growth fund providing exposure to emerging blockchain companies, a source close to the firm told CoinDesk.
The new “Blockchain Coinvestors VI (Mid Stage Growth)” will invest in 20 to 30 projects with “attractive return profiles and visible paths to liquidity,” according to the newsletter. The mid-stage nature of the funds means backing Series B, C and D funding rounds.
The firm also has a Nasdaq-listed SPAC called Blockchain Coinvestors Acquisition I (NASDAQ:BCSA) that’s targeting blockchain-enabled businesses. The SPAC raised $261 million in its November initial public offering.
READOfferpad Earnings Continue To Set Records
Offerpad (NYSE:OPAD), the digital platform for buying and selling homes, posted its “best quarter in company history,” Brian Bair, Offerpad Solutions Inc. chairman and CEO, said Wednesday evening during a conference call with analysts. Revenue in the first quarter totaled $1.37 billion, a 384% increase from the first quarter last year, and the company sold a record 3,602 homes in the quarter, a 254% increase from the 1,018 homes it sold a year earlier.
Offerpad went public via a publicly traded SPAC by merging with Supernova Partners Acquisition Co., owned by former Zillow CEO and co-founder Spencer Rascoff.
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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...
Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...