Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Europe launches first SPAC focused on biotech, CFA Institute calls for tougher SPAC disclosures, and UAE launches first SPAC
Europe Launches First SPAC Focused on Production of Complex Drugs
Europe’s first blank check company focused on acquiring companies that make medicines for the biotech and pharmaceutical industry launched on Monday, with plans to raise 150 million euros.
The company, named eureKING, intends to list on Euronext Paris and has identified about 40 targets that manufacture biologics, cell and gene therapies, or live biotherapeutics (biological products that contains live organisms, such as bacteria to prevent, treat or cure disease).
READCFA Institute Tells SEC to Tighten Disclosure Regs for SPAC Sponsors
The CFA Institute, the organization for investment professionals, is telling regulators to tighten disclosure requirements for SPAC sponsors, the Financial Times reported Sunday (May 8).
The CFA Institute recommends SPAC sponsors should fully disclose any affiliations with investors and other target companies, along with any side deals with anchor or pipe investors.
Better disclosures is one of the seven recommendations from the organization. The CFA Institute is mostly known for looking over the tests to become a chartered financial analyst. It comes after the Securities and Exchange Commission (SEC) reported on the SPACs in March.
READAbu Dhabi’s ADC Acquisition Corp. to Launch UAE’s First SPAC Public Offer on May 12
The UAE’s first SPAC will launch its public offer on May 12, offering 36.7 million shares at Dh10 apiece. The offer period for newly created ADC Acquisition Corporation will run until May 19, and subsequently list on ADX.
The offering represents 80 per cent of the issued share capital in ADC. In addition, there will be 18.35 million ‘public warrants’ that will be issued. One public warrant equates to shares subscribed to by an investor.
Comera Life Sciences Announces Research Collaboration With Top 10 Pharmaceutical Company to Develop Subcutaneous Formulation
Comera Life Sciences, Inc., which is developing a new generation of bio-innovative biologic medicines to improve patient access, safety, and convenience, today announced it has entered into a research collaboration with a top 10 global pharmaceutical company and developer of medicines across oncology, hematology and immunology and other therapeutic areas.
On January 31, 2022, Comera Life Sciences and OTR Acquisition Corp. (Nasdaq: OTRA) announced a proposed business combination.
READTransfix Drives Optimized Freight Procurement with Dynamic Solution that Offers Real-Time Recommendations
Transfix, Inc., the Intelligent Freight Platform™, today announced the launch of a beta program for its new sourcing optimization tool. The solution is designed to modernize the traditional freight procurement process by allowing shippers to calibrate carrier commitments and optimize their freight spend. The tool predicts and prescribes a sourcing strategy based on historical and real-time data. This enables shippers to procure capacity at an anticipated optimal rate with the highest expected reliability, and streamlines the sourcing process to days instead of months. Transfix will unveil the tool tomorrow at the FreightWaves Future of Supply Chain Conference, with a live demo at 9AM CT/10AM ET on the Rapid-Fire Demos stage.
As announced on September 21, 2021, Transfix has entered into a definitive business combination agreement with G Squared Ascend I Inc. (NYSE: GSQD), a special purpose acquisition company sponsored by affiliates of G Squared, that is expected to result in Transfix becoming a publicly listed company.
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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...
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...