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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Terms Tracker for the Week Ending December 20, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. * We will be skipping next week’s Terms Tracker post while we work on putting together our “2024 Year End Review”. You can find 2023’s...
Four Leaf Acquisition Corporation (NASDAQ:FORL) has entered into a definitive agreement to combine with Chinese technology firm Xiaoyu Dida for undisclosed terms. The Guangzhou, China-based firm produces software and hardware for smart car washing systems. The parties have set December 31, 2025 as the initial outside date and the combined company is expected to trade...
At the SPAC of Dawn SPACs are back on the board with a new deal announcement, which is the first in a little over two weeks. This brings the fourth quarter count on fresh deals to a still-meager nine after 27 were announced in the third quarter. By contrast, this quarter has still seen more...
Range Capital Acquisition Corp. (NASDAQ: RANGU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “RANGU”, Friday, December 20, 2024. The new SPAC intends to take a generalist approach in searching for a business combination, but will seek opportunities in capital constrained...
SPAC Deja Vu There’s been a lot of talk this year in the SPAC market about how it’s finally reverting back to a healthier version of deal flow and the comparison is always, “….like 2019”. In fact, in 2019, Trump was in office and there were 59 SPAC IPOs priced. As of this morning, Trump...