Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Frazier SPAC mulls merger with NewAmsterdam Pharma, Turkish mobility app Marti’s IPO announcement imminent, and leverage craze brings new ETF targeting SPACs
Frazier SPAC Is in Talks to Merge With NewAmsterdam Pharma
NewAmsterdam Pharma BV, a biotechnology company that aims to treat metabolic diseases, is in talks to go public through a merger with blank-check firm Frazier Lifesciences Acquisition Corp.(NASDAQ:FLAC), according to people with knowledge of the matter.
Frazier, a Seattle-based special purpose acquisition company led by Chairman and Chief Executive Officer Jamie Topper, is in final discussions with investors for a private investment in public equity to support a transaction that’s set to value the combined entity at more than $700 million, said some of the people, all of whom requested anonymity as the talks are private. As with all transactions that have not been finalized, it’s possible talks could collapse.
READTurkish Mobility App Marti’s New York IPO Announcement Imminent
Turkey’s mobility app Marti will announce its planned merger with a blank-check company within weeks, a deal that marks the first initial public offering by a Turkish company via a SPAC in New York, according to Bloomberg.
READLeverage Craze Brings New ETF Targeting the SPAC Market
A new exchange-traded fund is looking to make leveraged bets on one of the worst-performing corners of the US equity markets this year, as the craze of amped-up strategies sweeps the ETF industry.
The RiverNorth Enhanced Pre-Merger SPAC ETF (NYSE:SPCZ) launched last week, investing in SPACs before they merge with their targets. There are at least eight other exchange-traded funds in the US focused on blank-check companies, but this new fund would be the first that uses leverage, according to RiverNorth Capital Management Chief Executive Officer Patrick Galley.
READSeaStar Medical Submits Humanitarian Device Exemption Application to FDA for Use of Selective Cytopheretic Device in Children with Acute Kidney Injury
SeaStar Medical, a medical technology company developing proprietary solutions to reduce the consequences of hyperinflammation on vital organs, and LMF Acquisition Opportunities, Inc. (NASDAQ: LMAO) (LMAO), a special purpose acquisition company, today announced SeaStar Medical has submitted its application to the U.S. Food and Drug Administration (“FDA”) for Humanitarian Device Exemption (HDE) for use of the Selective Cytopheretic Device (SCD) for critically-ill children with acute kidney injury (AKI). The FDA informed SeaStar Medical that it has accepted the application and will begin its review.
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At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
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...