Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: SPAC deal makes CEO of Rumble a billionaire, Cano Health explores sale after receiving buyout interest, and Givaudan and LanzaTech announce collaboration
SPAC Deal Makes CEO of Conservative Video Platform a Billionaire
A SPAC deal has made the founder of a conservative social media platform a billionaire — and it’s not Donald Trump.
Chris Pavlovski, chief executive officer of Rumble Inc.(NASDAQ:RUM), is worth more than $1.8 billion after the lightly moderated video network — which features daily shows from hosts including Glenn Greenwald and Russell Brand — went public Monday by merging with a blank-check firm led by Cantor Fitzgerald’s Howard Lutnick. Pavlovski, who is Canadian, owns almost 140 million shares in the company, which he founded in 2013.
Also benefitting was Lutnick, the CEO and chairman of blank-check firm CF Acquisition Corp. VI. Through the SPAC sponsor, he now controls shares in Rumble valued at more than $148 million.
READCano Health exploring sale after receiving buyout interest
U.S. primary care provider Cano Health (NYSE:CANO) is exploring a sale and working with advisors after receiving acquisition interest, according to people familiar with the matter.
Cano Health has received buyout interest from potential buyers including Humana Inc and CVS Health Corp (NYSE:CVS), the sources said.
Cano, which went public last year through a merger with a special purpose acquisition company backed by billionaire Barry Sternlicht, received buyout interest after their poor results last month, prompting them to explore a sale, one of the sources said.
READGivaudan and LanzaTech announce their collaboration on developing fragrance ingredients from renewable carbon
Givaudan, a global industry leader in the world of scent and beauty, and LanzaTech NZ, Inc. (“LanzaTech”), an innovative Carbon Capture and Transformation (“CCT”) company have announced a collaboration for the development of sustainable fragrance ingredients from renewable carbon.
As previously announced LanzaTech has entered into a merger agreement for a business combination transaction with AMCI Acquisition Corp. II (Nasdaq: AMCI). Upon closing, the combined company is expected to trade on Nasdaq under the ticker symbol “LNZA”.
READMore Acquisition suspends shares due to planned Megasteel acquisition
More Acquisitions PLC on Friday suspended its shares from trading due to a planned acquisition of Wiltshire, England-based steel distributor Megasteel Ltd.
The special purpose acquisition company said Megasteel is valued at between GBP49.5 million to GBP63 million on completion of the acquisition. Consideration will involve the issue of between 2.2 billion to 2.8 billion new shares, at a price of 2.25 pence per share.
Megasteel is a distributor of high-quality steel for the prestressing and post-tensioning of concretes in the UK. Prestressed concrete is a critical building product used in the UK construction market.
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Terms Tracker for the Week Ending March 7, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. It was an extremely quiet week on the SPAC front with no IPOs pricing, but there were three new S-1 filings. There was also only...
At the SPAC of Dawn If things seem like they are accelerating fast to start 2025, that is even more so for the space sector, which had a big, and occasionally explosive, week this week. 2023 de-SPAC Intuitive Machines (NASDAQ:LUNR) landed on the moon a second time yesterday afternoon, but it may have seen its...
At the SPAC of Dawn SPACs have largely steered clear of the fintech sector, which used to be among its favorite hunting grounds of late, both due to unfavorable macro pressures and the lack of clear action on the traditional IPO side to comp to. That may soon change as buy-now-pay-later firm Klarna has confidentially...
At the SPAC of Dawn Stock market whip saws based on US government action are not likely going anywhere as President Donald Trump conceded “a little disturbance” is coming to the economy in a speech before a joint session of Congress. This pain in the short term is to be primarily the result of the...
Cal Redwood Acquisition Corp. has filed for a $200 million SPAC IPO, aiming to focus on opportunities in the TMT (Technology, Media, and Telecommunications) sector. The blank-check company intends to list on the Nasdaq under the symbol “CRAU”, offering 20,000,000 units at $10.00 each, with the trust funded at 100%. The unit structure includes a...