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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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...
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...