Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Wilbur Ross SPAC in talks to merge with UK’s Atom Bank, eToro targets $1B funding round, and Symbotic expands Walmart partnership to implement automation system
Trump’s Commerce Secretary Ross Plots £700M Merger With UK’s Atom Bank
The SPAC set up by Wilbur Ross, who was President Trump’s commerce secretary between 2017 and 2021, is in detailed talks about a merger with Durham-based Atom Bank.
Under the terms of the prospective merger, Atom Bank would agree to merge with Ross Acquisition Corp II (NYSE:ROSS), a SPAC which listed on the New York Stock Exchange in the spring of last year.
The SPAC would also raise about £150m through a PIPE.
READeToro Targeting $1B Funding Round After SPAC Stalls
The trading company that was bogged down by a protracted prospectus and regulatory process did not manage to complete its SPAC merger at a valuation of $10.3 billion in time and now seems to understand that it will not be able to go public as it has planned. While eToro continues to work to complete the SPAC merger, it is also in advanced stages of completing a massive private funding round of between $800 million and $1 billion. However, the valuation of the company in the round is set to only be around $5-6 billion.
Walmart and Symbotic Expand Partnership to Implement Industry-Leading Automation System
Symbotic LLC, a revolutionary A.I.-powered supply chain technology company, and Walmart Inc. announced an expanded commercial agreement to implement Symbotic’s robotics and software automation platform in all 42 of Walmart’s regional distribution centers over the coming years. This is an expansion of Walmart’s prior commitment to deploy Symbotic Systems in 25 regional distribution centers.
Symbotic has previously announced its entry into a business combination agreement with SVF Investment Corp. 3 (NASDAQ: SVFC) which is expected to make Symbotic a public company listed on Nasdaq.
READMSP Recovery Enters Into Agreement With Mexico’s SeguriTech to Enhance MSPR’s Data Capabilities, Position MSPR for International Growth, and Expand the LifeWallet Platform Across Mexico
MSP Recovery, LLC, a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery leader today announced it has entered into a Data Transfer Agreement with one of the leaders in Mexican data and cybersecurity, SeguriTech, S.A. de C.V., positioning MSPR to expand its services internationally.
On May 18, 2022, Lionheart Acquisition Corporation II (Nasdaq: LCAP), a publicly traded special purpose acquisition company, announced that shareholders of record as of April 18, 2022 approved the previously announced business combination with MSP Recovery, LLC, a Medicare, Medicaid, commercial, and secondary payer reimbursement recovery leader.
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Terms Tracker for the Week Ending May 30, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. May went out with a bang. Four more IPOs priced this week, bringing the monthly tally to 22 and the YTD total to 53. That...
June is set to be one of the quietest months in some time in terms of sponsors and de-SPAC’d companies coming free from their lock-ups, owing to the quieter periods for transactions closing that occurred six and 12 months ago. Up first will be company shareholders for East Asian media conglomerate TNL Mediagene (NASDAQ:TNMG) on...
Pioneer I (NASDAQ:PACHU) has filed for a $220 million SPAC to hunt for a healthcare target with a mix of industry veterans heading up its team. The new SPAC is the 12th new S-1 underwritten by Cantor Fitzgerald this year as left lead as it hopes to join the 10 SPACs that the underwriter has...
At the SPAC of Dawn This week comes to an end with a flurry of SPAC votes including three special meetings called for shareholders to approve business combinations. Aetherium (OTC:GMFI) was also scheduled to seek shareholder approval for its extension proposal, but has punted this vote for two weeks to June 13. Two of today’s...
At the SPAC of Dawn After multiple days of market rallies, traders are set to ingest a full plate of economic indicators today with jobless claims coming first, followed by a GDP growth revisions, home sales and a raft of Fed comments. GDP figures for the first quarter are broadly forecast to be revised downward...