Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: French media group Banijay to go public via Arnault-backed SPAC, Gensler says SPAC retreat shows concern about risk, and Gogoro to launch in Israel
French TV Producer Banijay to Go Public Via Arnault-Backed SPAC
French media group Banijay will go public through a merger with a blank-check acquisition firm backed by billionaire Bernard Arnault in a deal worth more than 4 billion euros ($4.21 billion), an executive at its parent company said on Tuesday.
The production house behind global television hits such as “The Voice”, “Black Mirror,” “The Kardashians” and “Master Chef” will be part of a listed entity, dubbed FL Entertainment, whose first day of listing will be on July 1, the executive, Francois Riahi, said.
READSPAC Retreat Shows Wall Street Awakens to Risk, Gensler Says
Wall Street’s pullback from deals involving blank-check companies signals that major financial firms are concerned about the regulatory risks associated with the transactions, according to US Securities and Exchange Commission Chair Gary Gensler.
While Gensler declined to discuss specific firms, his comments about the once hot market come as Goldman Sachs Group Inc.(NYSE:GS), Bank of America Corp (NYSE:BAC) and Citigroup Inc. (NYSE:C) are distancing themselves from deals involving special purpose acquisition companies. Concern about an SEC crackdown has prompted Goldman Sachs to pull out of most work on SPACs and Bank of America to end relationships with some of the vehicles, Bloomberg News reported on Monday.
READGogoro To Launch In Israel This Summer
Gogoro Inc. (Nasdaq: GGR), a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today announced it was partnering with industry leaders, Metro Motor and Paz Group in Israel to launch its industry leading battery swapping platform and Smartscooters in the Tel Aviv metropolitan area this summer and other cities in Israel in the future. Metro Motor is a top two-wheel vehicle distributor in Israel and Paz Group is a leading gas and energy company in Israel.
Poema Global completed its combination with two-wheeled EV battery charging network Gogoro earlier this year in March.
READWestrock Coffee Achieves Its Commitment to Responsibly Source 100% of Its Tea Products
Westrock Coffee Holdings, LLC, a leading integrated coffee, tea, flavors, extracts, and ingredients solutions provider to the retail, foodservice and restaurant, convenience store and travel center, non-commercial account, CPG, and hospitality industries, announced today the successful achievement of its previously stated goal to responsibly source 100% of its tea globally.
Westrock Coffee previously announced it entered into a business combination agreement with Riverview Acquisition Corp. (Nasdaq: RVAC). The transaction is expected to close in the third quarter of 2022, and it is anticipated that the Company will retain the Westrock Coffee name and be listed on Nasdaq under the ticker symbol “WEST.”
READInfiniteWorld Partners With Chibi Dinos to Create and Launch the Chibiverse
InfiniteWorld, community & infrastructure for the Metaverse that gives brands a platform to create, monetize, and drive consumer engagement through digital content, and Chibi Dinos, a blockchain gaming company providing the most innovative and entertaining utility for gamers and sports fans through NBA Street-Esque and play-and-earn gameplay, are proud to announce the launch of the “Chibiverse.” The Chibiverse is based on the original “Chibi Dinos,” intellectual property (IP) composed of 10,000+ uniquely generated NFTs created by serial entrepreneur Sean Kelly.
InfiniteWorld, part of the SUKU Ecosystem, an NFT and metaverse infrastructure company that enables brands to create, monetize, and drive consumer engagement with digital content, is poised to become a publicly traded company through a SPAC merger via Aries I Acquisition Corporation (Nasdaq: RAM), a special purpose acquisition company, that is expected to close during 1H22.
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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...