Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Mondee announces 1Q financials results, returns to positive EBITDA while Prenetics tumbles following Nasdaq debut
Mondee Announces 1Q 2022 Financial Results; Returns to Positive EBITDA, Almost Tripling Net Revenue
Mondee Inc., the high-growth, travel technology company and marketplace, with a portfolio of globally recognized platforms and brands in the leisure and corporate travel sectors, today announced financial results for the first quarter ended March 31, 2022. Mondee has entered into a definitive business combination agreement with ITHAX Acquisition Corp. (Nasdaq: ITHX) that is expected to result in Mondee becoming a publicly listed company on Nasdaq under the ticker symbol “MOND”.
Positive Adjusted EBITDA was $2 million, despite January and February negative impact of COVID-19 Omicron variant, an improvement of $6 million as compared to a 1Q21 Adjusted EBITDA loss of $4 million.
Gross revenue of $469 million was up 205% year-over-year as compared to $154 million in the first quarter of 2021.
READHong Kong Biotech Prenetics Tumbles After Nasdaq Debut
Biotech company Prenetics (NASDAQ:PRE) has lost more than one-third of its value since listing on the Nasdaq this week, as the Hong Kong startup’s chief executive warned that a key virus-screening business was set for a steep fall.
Shares in the company, a COVID-19 test provider that helped soccer’s Premier League resume matches, closed at $5.10 in New York on Thursday, down 40% from a high of $8.50 reached on its U.S. trading debut Wednesday.
Prenetics was the first Hong Kong unicorn to list in New York in a merger deal with SPAC Artisan Acquisition, backed by New World Development CEO Adrian Cheng.
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A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...
Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...