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.
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Cantor Equity Partners I, Inc. (NASDAQ:CEPO) has filed for a $200 million IPO with near identical terms to its sister SPAC Cantor Equity Partners, Cantor Equity Partners (NASDAQ:CEP), giving the team a second vehicle in the mix with terms designed to be particularly attractive to targets. It would be the fourth SPAC to IPO in...
This week, we speak with Betsy Cohen and Maxwell Smeal from the Cohen Circle Acquisition Corp. I team to get their views on the current SPAC landscape. Betsy Cohen is already a well-known figure in SPAC circles for having previously led the Fintech Acquisition and FTAC SPACs. Betsy and Max discuss the past, present and...
At the SPAC of Dawn The first full week of November is expected to be action-packed as SPAC shareholders will be turning in scores of ballots of their own amid the US election week. The next five days are to play host to 10 extension meetings and a pair of completion votes by Atlantic Coastal...
Terms Tracker for the Week Ending November 1, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Once again, the past week was all about new issuance while the DeSPAC announcements remain quiet. To kick off November, two SPACs priced IPOs to...
October continued the recent trend of SPAC teams seeking additional extensions beyond their first one, as they work on closing their combinations with the remaining funds after redemptions. Meanwhile, new SPACs are launching IPOs and beginning their search processes, signaling a shift in the market. Extension Votes In October, there were 13 scheduled extension votes....