Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Quanergy files for bankruptcy, Royalty Management becomes a member in Texas Tech University’s Center for Advancing Sustainable and Distributed Fertilizer Production, and Bakkt study finds future crypto purchase consideration holds steady
Ex-SPAC Quanergy Files for Bankruptcy Less Than a Year After Going Public
Quanergy Systems Inc. (NYSE:QNGY), a maker of high-tech sensors and related software, filed for bankruptcy about 10 months after going public through a merger with a blank-check company.
The firm will try to sell itself out of bankruptcy and expects to keep operating in the meantime, according to a statement. Quanergy listed assets and liabilities of as much as $50 million each in its Chapter 11 petition.
In February, the company said it closed its deal to go public through a business combination with CITIC Capital that netted it close to $50 million of cash.
READAmerican Acquisition Opportunity Inc.’s Merger Target, Royalty Management, Becomes Member in Texas Tech University’s Center for Advancing Sustainable and Distributed Fertilizer Production
American Acquisition Opportunity Inc.’s (NASDAQ:AMAO) merger target company, Royalty Management Corporation (RMC), announced today that it has become a gold member of Texas Tech University’s recently created Center for Advancing Sustainable and Distributed Fertilizer Production, or ‘CASFER’ organization. Becoming a gold members of CASFER enables RMC to have access to the technologies and intellectual property developed out of CASFER, in particular the innovative and novel technologies to produce, capture, and recycle nitrogen-based fertilizers resulting from farming activities.
READBakkt Study Finds Future Crypto Purchase Consideration Holds Steady Despite Recent Crypto Failures
Bakkt Holdings Inc (NYSE: BKKT), a digital asset platform that unlocks crypto and drives loyalty to create delightful, connected experiences for a broad range of clients, today released findings from its “Bi-Annual U.S. Consumer Crypto Sentiment Study” of more than 2,000 U.S. consumers who own crypto or are interested in crypto, examining their interest in crypto following the summer volatility, their preferred security features and outlook for crypto’s role in the global financial system.
READ
Deals and Amendments Arogo Capital (OTC:AOGO) has received notice that its merger target Ayurcann Holdings (CSE:AYUR) has terminated their business combination citing a breach on behalf of the SPAC. Ayurcann expects to be paid a $250,000 breakup free from Arogo. News and Rumors PR: Smart TV firm Innovid (NYSE:CTV), which combined with ION 2 in...
At the SPAC of Dawn Wednesday night saw two more SPACs price their IPOs, which means November’s eight listings will now eclipse October’s haul of seven and the five IPOs of September. Amid this accelerating momentum, a new name could soon be seen on a number of new SPACs. EF Hutton rebranded to D. Boral...
CO2 Energy Transition Corp. (NASDAQ:NOEMU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “NOEMU”, Thursday, November 21, 2024. The new SPAC intends to combine with a target company that is focused on reducing emissions through the generation of renewable energy or...
Dynamix Corporation (NASDAQ:DYNXU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “DYNXU”, Thursday, November 21, 2024. The new SPAC intends to focus its search on companies that are within the energy transition, oil and gas, and power sectors. Dynamix Corporation is...
At the SPAC of Dawn One more shoe has dropped as the President-Elect Donald Trump works to staff his incoming administration and set priorities as he has appointed Cantor Fitzgerald CEO Howard Lutnick to lead the Department of Commerce. This ends speculation about where the head of 2024’s leading SPAC underwriter would land. The question...