Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: India’s JetSynthesys in talks to merge with BurTech, Rumble partners with RSBN, and ProSomnus opens new global HQ
India’s JetSynthesys Is Said in Talks to Merge With BurTech SPAC
JetSynthesys, an Indian digital entertainment and technology company, is in talks to go public through a merger with blank-check firm BurTech Acquisition Corp. (NASDAQ:BRKH).
The two companies have signed a non-binding letter of intent regarding a transaction that values the combined entity at more than $700 million, said the people, who asked not to be identified discussing private talks. BurTech may seek an additional $120 million in new financing to support the deal.READ
Rumble Partners with RSBN for Exclusive Livestreams and Ad Management
Today, the video-sharing platform Rumble announced a exclusive partnership with Right Side Broadcasting Network (RSBN) to manage advertisements, including host-read “live” advertisements, for the network through the end of 2022. As part of the partnership, RSBN will stream the featured portions of its live political coverage exclusively on Rumble, including its coverage of rallies by 45th President Donald J. Trump.
The company announced in December 2021 the execution of a definitive business combination agreement with CF Acquisition Corp. VI (NASDAQ: CFVI).READ
ProSomnus to Open New Global Headquarters and Manufacturing Center of Excellence, Increasing Manufacturing Capacity and Efficiency
ProSomnus, a leader in patient-preferred medical devices for the treatment of Obstructive Sleep Apnea (OSA), today announced plans for a new 32,219-square-foot facility in Pleasanton, California, USA. The facility will serve as the company’s global headquarters and manufacturing center of excellence. The move will quintuple manufacturing capacity, enabling ProSomnus to meet the rapidly growing demand for the company’s FDA-cleared oral appliance therapy devices. ProSomnus expects to begin operations at the facility in January 2023.
In May 2022, ProSomnus entered a definitive merger agreement with Lakeshore Acquisition I Corp. (Nasdaq: LAAA), a special purpose acquisition company. Upon closing, the combined company is expected to change its name to ProSomnus, Inc. and its Class A common stock is expected to be traded on the Nasdaq Capital Market under the symbol “OSA”.READ
SPAC TechStar Acquisition Corp. Files for Hong Kong Listing
TechStar Acquisition Corporation, a SPAC initiated by CNCB Capital, Zero2IPO Group, Zero2IPO Capital, and individuals including Ni Zhengdong, Li Zhu and Liu Weijie, submitted a listing application to the main board of the Hong Kong Stock Exchange (HKEx) on June 24. Zero2IPO Capital and China Securities International are serving as co-sponsors.
Among the 13 SPACs that have filed A1 documents so far with the HKEx, TechStar has the largest number of sponsors by a significant margin.READ