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The Latest SPAC News and Rumors: May 20, 2022

 


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

Latest SPAC News: Mondee announces 1Q financials results, returns to positive EBITDA while Prenetics tumbles following Nasdaq debut


Mondee Announces 1Q 2022 Financial Results; Returns to Positive EBITDA, Almost Tripling Net Revenue

Mondee Inc., ...READ MORE

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The Latest SPAC News and Rumors: May 19, 2022

 


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

Latest SPAC News: Ex-Gucci backer Investcorp weighs UAE SPAC, Lionheart in talks with Security Matters, and Polestar cuts 2022 delivery forecast amid China lockdown


Ex-Gucci Backer Investcorp Weighs Setting Up UAE SPAC 

Investcorp is considering listing a special purpose acquisition company in the UAE, according to people with knowledge of the matter, boosting momentum for the Middle East’s nascent blank-check market. ...READ MORE

KludeIn I (INKA) to Combine with Near in $754M Deal

KludeIn I Acquisition Corp. (NASDAQ:INKA) has entered into a definitive agreement to combine with data intelligence platform Near, at an enterprise value of $754 million, or 8.3x 2023E revenue. Pasadena, CA-based Near helps businesses better understand consumer behavior to unlock growth strategies through data intelligence solutions. The combined company will trade on the Nasdaq under
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liquidation

Cascade Acquisition Corp. (CAS) Announces Liquidation

Cascade Acquisition Corp. (NYSE:CAS) announced this afternoon that it intends to dissolve and liquidate due to its inability to complete an initial business combination within the required time period.

As a result, the SPAC will redeem all of the outstanding shares of Class A common stock that were included in the units issued in its IPO at a per-share redemption price of approximately $10.10. ...READ MORE

Lionheart II (LCAP) Shareholders Approve MSP Recovery Deal

Lionheart Acquisition Corp. II (NASDAQ:LCAP) announced that its shareholders have voted to approve its combination with Medicare billing firm MSP Recovery in a special meeting held earlier today.

Although today’s press release did not disclose redemption numbers, Lionheart II traded above its trust value of $10 throughout its redemption deadline Monday, May 16, and opened today at $10.49. ...READ MORE

Global SPAC (GLSPT) Amends Gorilla Technology Deal

Global SPAC (NASDAQ:GLSPT) announced this morning it has made several changes to its transaction with edge computing firm Gorilla. The amendments covered a range of topics within the business combination including contingent value rights, the earnout, covenants regarding additional financing, the termination as well as other related agreements including subscription agreements and the letter agreement.
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North Atlantic (NAAC) Postpones Shareholder Vote

North Atlantic Acquisition Corp. (NASDAQ:NAAC) announced this afternoon that it has postponed its special meeting to vote to approve its combination with communications platform Telesign.

Although NAAC noted that a sufficient number of NAAC’s shareholders have already voted to approve the business combination, it also stated that all of the conditions to effect the closing of the deal have not yet been satisfied. ...READ MORE

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The Latest SPAC News and Rumors: May 17, 2022

 


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

Latest SPAC News: Zegna aims for revenue above $2B, India’s Byju’s eyes Chegg or 2U as it weighs US acquisition, and MSP Recovery sees substantial business expansion following SPAC announcement


Italian Luxury Group Zegna Sees Sales Above 2B Euros in Mid-Term

Italy’s Zegna (NYSE:ZGN) is aiming for revenue above 2 billion euros ($2.1 billion) in the medium term, up from the 1.29 billion euros posted last year, the fashion group said on Tuesday at its first Capital Markets Day since its debut on Wall Street in late 2021. ...READ MORE

EdTechX II (EDTX) to Combine with zSpace in $195M Deal

EdTechX Holdings Acquisition Corp. II (NASDAQ:EDTX) has entered into a definitive agreement to combine with edtech firm zSpace at an enterprise value of $195 million, or 3.5x 2023E revenue. San Jose, CA-based zSpace provides commercial augmented reality (“AR”) and virtual reality (“VR”) technology in the global education market with a focus on learning software modules
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New SPAC: Metaverse Acquisition Corp. Files for $150M IPO

Metaverse Acquisition Corp.  filed its S-1 on Friday afternoon, representing the third SPAC to file in May thus far, and has an offering size of $150M. As you could’ve guessed, the SPAC intends to identify tech opportunities within the metaverse arena. According to Bloomberg Intelligence, the sector represents a high-growth market projected to grow at
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The Latest SPAC News and Rumors: May 16, 2022

 


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

Latest SPAC News: Big law bullish on SPACs, DWAC and Trump Media eye second half deal close, and Alvotech announces positive results from pharmacokinetic study


Big Law Is Bullish on SPACs Even as Large Banks Pull Out

Proposed US rules causing banks to sour on SPACs are having the opposite effect on Big Law firms that see an uptick in inquiries about special purpose acquisition companies. ...READ MORE

Chardan NextTech 2 (CNTQ) to Combine with Dragonfly Energy in $500M Deal

Chardan NextTech Acquisition 2 Corp. (NASDAQ:CNTQ) has entered into a definitive agreement to combine with energy storage firm Dragonfly Energy at an enterprise value of $500.1 million, representing a 2.0x EV/2023E revenue multiple. Reno, Nevada-based Dragonfly creates lithium-ion batteries equipped with a proprietary battery management system that are currently used in recreational vehicles (RVs), marine
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The Latest SPAC News and Rumors: May 13, 2022

 


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

Latest SPAC News: Martin Franklin warns of more pain to come for SPACs, ShiftPixy announces special distribution of shares of Industrial Human Capital, and Betclic owner targets €7B Amsterdam listing


SPAC Pioneer Franklin Sees More Pain Coming for Blank-Check Bets

Serial blank-check investor Martin Franklin is warning of more pain to come for SPACs, recommitting to his notion that the market for the vehicles is overheated and should be governed by the same guidelines as initial public offerings. ...READ MORE

IPO-Pricing
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The Latest SPAC News and Rumors: May 12, 2022

 


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

Latest SPAC News: Lordstown Motors and Foxconn enter JV agreement for EV development, D-Wave delivers industry-first hybrid solver, and Gogoro releases 1Q results


Lordstown Motors and Foxconn Close Asset Purchase Agreement and Enter into JV Agreement for MIH Based EV Development

Lordstown Motors Corp. ...READ MORE

new-spac

New SPAC: CE Energy Acquisition Corp. Files for $100M IPO

CE Energy Acquisition Corp. (NASDAQ:CEAC) filed its S-1 on Monday afternoon, representing only the second SPAC to file in May thus far, and has an offering size of $100M. Given its name, it comes as no surprise that CE Energy intends to focus their search for a target business in the energy industry, but it
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The Latest SPAC News and Rumors: May 11, 2022

 


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

Latest SPAC News: French media group Banijay to go public via Arnault-backed SPAC, Gensler says SPAC retreat shows concern about risk, and Gogoro to launch in Israel


French TV Producer Banijay to Go Public Via Arnault-Backed SPAC

French media group Banijay will go public through a merger with a blank-check acquisition firm backed by billionaire Bernard Arnault in a deal worth more than 4 billion euros ($4.21 billion), an executive at its parent company said on Tuesday. ...READ MORE