Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Brad Pitt's Plan B in talks to sell stake to Mediawan, BuzzFeed allowed to block worker arbitration claims over IPO snafu, and Bright Machines raises $100M after pulling SPAC deal Brad Pitt's Plan B Is Said in Deal Talks With France's Mediawan Actor Brad Pitt’s Plan B Entertainment, the production company behind films like Moonlight and The Big Short, is in talks to sell a significant stake to French media conglomerate Mediawan, according to people with knowledge of the matter. More
Phoenix Biotech Acquisition Corp. (NASDAQ:PBAX) has entered into a definitive agreement to combine with preclinical-stage therapeutics company Intrinsic Medicine, Inc. at an enterprise value of $207.3 million. The Seattle, Washington-based company is a preclinical-stage therapeutics firm leveraging synthetic biology-manufactured human milk oligosaccharides (HMOs) to help treat gut-brain axis disorders (GBA). More
Spree Acquisition Corp. 1 (NYSE:SHAP) has entered into a definitive agreement to combine with taxi fleet operator zTrip at an equity value of $251 million, or 15.7x its 2021 EBITDA. The Kansas City-based company operates taxi fleets in 26 US cities in the South and Midwest. More
Terms Tracker for the Week Ending October 28th, 2022 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week's pricings. The week ahead of Halloween and the last full week of October was relatively quiet without a single new S-1 registration statement or an IPO. More
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Palihapitiya blames the Fed for market conditions, Johannesburg Stock Exchange changes listing rules, and Zukin Certification Services partners with Banyan Risk to offer SPAC D&O insurance Chamath Palihapitiya blames the Fed for 'perverted' market conditions that benefited him Billionaire investor and so-called SPAC King Chamath Palihapitiya said the zero interest rates the Federal Reserve allowed to persist for years created the “perverted” market conditions he benefited from at the height of the Covid pandemic. More
SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among companies in South and Southeast Asia. We look at why they are compelling and why each could be a fit for a blank-check merger. More
Health Assurance Acquisition Corp. (NASDAQ: HAAC) announced in a press release this afternoon that due to its inability to complete a business combination, it will dissolve and liquidate its trust. The SPAC originally had a completion deadline of November 17, but now expects its shares to stop trading on the Nasdaq as of the close of business on November 3. More
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: FlyExclusive expands partnership with SmartSky, and Graphjet announces agreement with Quantum Science FlyExclusive, SmartSky Expands Wi-Fi Partnership Ahead of IPO After announcing last week that it would become a publicly traded company through a $600 million special purpose acquisition company merger, flyExclusive also shared that it was planning to purchase as many as 14 Cessna Citations from Textron Aviation. More
Ignyte Acquisition Corp. (NASDAQ:IGNY) announced this morning that its shareholders approved its combination with biopharmaceutical firm Peak Bio at a special meeting on October 25. The press release did not divulge redemption figures, but noted that the vote received roughly 75% turnout and 75% approval. More
The market is down, but so are valuations for private companies looking at their strategic options. There are now bargains to be had for recent de-SPACs looking to execute a post-listing roll-up strategy, according to FiscalNote Chairman, CEO and co-founder Tim Hwang. More
