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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Cantor Equity Partners I (NASDAQ:CEPO) has entered into a definitive agreement to combine with Bitcoin Standard Treasury in a transaction that is worth about $4.8 billion. Bitcoin Standard Treasury aims to bring in capital from a number of equity instruments to build up one of the largest US-listed Bitcoin treasuries. The combined company is expected...
At the SPAC of Dawn Several de-SPACs have made market-moving announcements recently and they haven’t forgotten to cash in on them. Fresh off of announcing $500 million strategic investment and partnership with Apple (NASDAQ:AAPL), rare earth miner MP Materials (NYSE:MP) has followed that up with a $500 million public offering, netting the company a cool...
Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...
At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...
Solarius Capital Acquisition Corp. (NASDAQ:SOCAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SOCAU”, Wednesday, July 16, 2025. The new SPAC plans to combine with a target in the asset management, wealth management or financial services industries. Solarius Capital’s management team...