Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Financial firms push back on SEC, Polestar to debut electric roadster concept, and DNEG announces business update
U.S. financial firms push back on SEC bid to rein-in blank check company deals
U.S. financial industry groups are pushing to water down a draft Securities and Exchange Commission (SEC) rule aimed at reining-in special purpose acquisition companies or SPACs, arguing it could kill the industry.
The American Securities Association (ASA), the SPAC Association and the CFA Institute are among groups warning that the SEC’s proposed March rule would create too much liability for parties involved in SPAC deals, and as such goes further than traditional initial public offering (IPO) and M&A rules.
Polestar to Debut Polestar 5 Electric Performance 4-Door GT Prototype and Polestar 2 BST Edition 270 at 2022 Goodwood Festival of Speed
Polestar, the Swedish electric performance car company, is returning to the Goodwood Festival of Speed on 23 June 2022 and will debut a Polestar 5 prototype and the new high-performance, limited-edition Polestar 2 BST edition 270. Polestar’s electric roadster concept and its existing product range will also be present.
Polestar intends to list on the Nasdaq in a proposed business combination with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU), which is expected to close in June 2022.
READVisual Effects and Animation Leader DNEG Announces Business Update
DNEG, a leading technology-enabled visual effects (VFX) and animation company for the creation of feature film, television and multiplatform content, today announced a business update for the year ended March 31, 2022.
For the full-year ended March 31, 2022, DNEG generated revenue of $409.3 million, Net Income of $39.3 million and Adjusted EBITDA of $100.6 million, equating to year-over-year growth of 33.5%, 214.7% and 22.4%, respectively. Additionally, Net Income margin equated to 9.6% and Adjusted EBITDA margin equated to 24.6% for the year.
As previously announced, DNEG entered into a Business Combination Agreement with Sports Ventures Acquisition Corp (“Sports Ventures”), a publicly-traded special purpose acquisition company (Nasdaq: AKIC), in January, 2022.
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Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...
Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...
This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...
At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...
Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...