Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Redwire back on acquisition trail with deal for QinetiQ Space and Footprint showcases development of plant-based recyclable packaging for Gillette
Redwire back on acquisition trail with deal for QinetiQ Space
British defense firm QinetiQ is selling its Belgian commercial satellite systems division to Redwire, a U.S.-based consolidator of space infrastructure.
Redwire (NYSE:RDW) said Oct.3 it plans to buy QinetiQ Space, which supplies small satellites and other instruments for European end-to-end space missions, for 32 million euros ($31.4 million).
In September 2021, Redwire became a public company by merging with Genesis Park Acquisition Corp., a special purpose acquisition company, to fuel further acquisitions.
READFootprint Showcases Development of Innovative Plant-Based Recyclable Packaging for Gillette
Footprint, a global materials science technology company focused on creating a healthier planet, released a case study highlighting its recent development of a custom plant-based fiber tray to package the GilletteLabs Razor with Exfoliating Bar. Gillette, the world’s leading expert in men’s grooming and a core brand in the portfolio of multinational consumer goods corporation Procter & Gamble (P&G), became the first brand to implement Footprint’s new color-based molded fiber in its packaging. The plastic-free, certified recyclable tray from Footprint supports Gillette’s goal to achieve 100% recyclable packaging by 2030, as well as Footprint’s goal to create a healthier planet.
In December 2021, Footprint announced its intention to list on NASDAQ as a public company in a business combination agreement with Gores Holdings VIII, Inc. (Nasdaq: GIIX, GIIXW and GIIXU).
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...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...