Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Cineplex asks Cineworld lenders to consider merger, German government aims to improve framework for SPACs, and Jupiter Wellness announces notice of allowance for Minoxidil Adjuvant Therapies patent
Cineplex Asks Cineworld Lenders to Consider US Merger, WSJ Says
Canadian theater chain Cineplex Inc. has weighed a merger with Cineworld Group Plc’s US arm, and has discussed a potential deal with the UK company’s lenders, the Wall Street Journal reported.
Cineplex has proposed taking over Regal Entertainment Group, and would give Cineworld’s lenders debt and stock backed by the combined entity, the newspaper said Wednesday, citing people with knowledge of the talks who it didn’t identify.
Cineworld shares jumped as much as 11% in London trading on Wednesday and were down 5.9% to 2.54 pence at 11:09 a.m. The shares have dropped more than 90% this year. Cineworld Group Plc had explored options including a secondary US listing, selling non-US assets, merging with a rival, and a SPAC deal before filing for bankruptcy.
READGerman Government publishes key points to improve the German capital market
The German Government published a paper outlining a German Future Financing Act, which includes important changes to capital markets law, tax law and corporate law.
The framework conditions for modern forms of transactions (i.e., naked warrants and Special Purpose Acquisition Companies) shall be improved.
READJupiter Wellness Announces Notice of Allowance for Minoxidil Adjuvant Therapies U.S. Patent
Jupiter Wellness, Inc. (NASDAQ:JUPW), a wellness company focused on hair loss, eczema, burns, and sexual wellness announced today that the United States Patent and Trademark Office (USPTO) has granted a notice of allowance for patent application No. 16/747,685, titled “Minoxidil Adjuvant Therapies.” Jupiter Wellness acquired this case through its recent acquisition of Applied Biology assets.
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At the SPAC of Dawn After a tepid month for SPAC activity in April, prominent teams are already scheduling things to make for some fireworks in early May. AltC (NYSE:ALCC) has already been turning heads as being the rare SPAC to trade significantly above trust value before close, and it has now booked the completion...
At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...
Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...