The Latest SPAC News and Rumors: September 27, 2022
by Marlena Haddad on 2022-09-27 at 11:46am

 


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Bitdeer debuts fund targeting distressed miners, Harley-Davidson EV unit LiveWire’s shares rise 24%


Crypto Tycoon’s Bitdeer Debuts Fund Targeting Distressed Miners

Chinese crypto billionaire Jihan Wu is setting up a $250 million fund to buy distressed assets from Bitcoin miners, as the industry reels from this year’s steep drop in digital-asset prices.

Wu’s Bitdeer Technologies Holding Co. plans to invest $50 million as part of a junior tranche, meaning the firm’s investment will be first at risk if the fund loses money. It aims to raise another $200 million from outside investors such as family offices, venture capital firms, alternative investment funds and other mining companies, a representative from Bitdeer told Bloomberg News.

Singapore-based Bitdeer has emerged as a major Bitcoin miner, with facilities across the US and Norway. Last November, the firm filed with the US Securities and Exchange Commission to go public through a $4 billion business combination with Blue Safari (NASDAQ:BSGA), which was originally set to be completed on June 14. The deal has since been pushed back, with Bitdeer filing this month for a second extension that would delay the closing until Dec. 14.

READ

Harley EV unit LiveWire’s shares jump in debut after $1.8 bln SPAC merger 

Shares of LiveWire, the electric motorcycle subsidiary of Harley-Davidson Inc (NYSE:HOG), jumped as much as 24% in their U.S. market debut on Tuesday following the unit’s $1.77 billion merger with a blank-check firm.

The backdoor listing makes LiveWire as the first and only EV motorcycle company in the United States to debut on the New York Stock Exchange. Last year, the EV unit agreed to merge with special purpose acquisition company AEA-Bridges Impact Corp.

READ

 

 

Recent Posts
by Nicholas Alan Clayton on 2024-03-28 at 1:35pm

News and Rumors PR: Bannix (NASDAQ:BNIX) has provided more information on the combination with VisionWave that it announced yesterday, specifying that the imaging technology that VisionWave will acquire from GBT Technologies will primarily seek out applications in military combat scenarios and geological surveys. PR: Grove Collaborative (NYSE:GROV), which combined with Virgin Group II in June...

by Nicholas Alan Clayton on 2024-03-28 at 7:47am

At the SPAC of Dawn Fed Chair Jerome Powell has given new hints that the administration would be showing greater levels of comfort with inflation if a cut could help improve unemployment numbers. Those numbers could get an update today at 8:30 am ET to bring new jobless claims as well as final prices for...

by Nicholas Alan Clayton on 2024-03-27 at 1:31pm

News and Rumors CNBC: Former WeWork (OTC Pink:WEWKQ) founder Adam Neumann has offered to buy back control of the company for $500 million but has yet to secure the necessary financing. WeWork went public with BowX in October 2021. PR: Satellite telecom firm Spire Global (NYSE:SPIR) has signed an agreement to build and launch two...

by Nicholas Alan Clayton on 2024-03-27 at 11:38am

Bannix (NASDAQ:BNIX) has entered into a definitive agreement to combine with VisionWave Technologies for $30 million. The combined company is expected to trade on the Nasdaq once the deal is completed with an initial outside date of September 14. Transaction Overview Bannix has about $17 million in its trust after seeing 77.4% of its shares...

by Nicholas Alan Clayton on 2024-03-27 at 7:33am

At the SPAC of Dawn Much of the attention yesterday was on tracking the swings of the newly-completed Trump Media (NASDAQ:DJT) deal with the FT going as far to suggest it may “make SPACs great again.” Not all of the day’s data points were on the positive side of the ledger, however. IB Acquisition Corp....

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved