The pace of lock-up expirations is cooling with the weather as the month of October is set to see just six target companies and nine sponsors newly free to trade. These de-SPACs enter October following the worst September for stocks overall since 2008. More
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Billtrust surges on go-private deal, and Robinhood trader 'deceived' by Nikola founder snubs SEC filings FinTech IPO Index Flat as Billtrust Surges on Go-Private Deal Tech stocks have had a reckoning in the past several days — a rally proved short lived, a blip. More
Magnum Opus (NYSE:OPA) has entered into a definitive agreement to combine with consumer internet company Asia Innovations Group Limited ("ASIG") at an equity valuation of $2.5 billion. Singapore-based Asia Innovations is a mobile social company serving over 400 million registered users located in over 150 countries and regions worldwide. More
Summit (NASDAQ:SMIH) has entered into a definitive agreement to combine with drug-maker YS Biopharma at an enterprise value of $1.08 billion, or about 15.2x its 2022E revenue. The Beijing-based company currently makes a rabies vaccine for the Chinese market and is working to commercialize a range of new vaccines and other treatments. More
Deep Medicine (NASDAQ:DMAQ) announced this morning that it has terminated its $2.5 billion combination with Chinese carmaker Chijet. Deep Medicine's move comes after it made two amendments to the deal to extend the due diligence period. More
SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among beauty and personal care companies with financial profiles to lure the market. We look at why they are compelling and why each could be a fit for a blank-check merger. More
dMY Squared Technology Group, Inc. priced its downsized $60 million IPO and its units are expected to begin trading on the NYSE under the symbol "DMYY.U" Friday, September 30, 2022. The new SPAC intends to focus its efforts on companies within the professional service industry that provide accounting, legal, financial, advisory or other services to public companies or private companies that are in the process of becoming public companies with enterprise valuations in the range of $500 million to $2 billion. More
Qomolangma Acquisition Corp. priced its $50 million IPO and its units are expected to begin trading on the Nasdaq under the symbol "QOMOU" Friday, September 30, 2022. The new SPAC intends to focus its efforts on technology companies operating in Asian markets that have a total enterprise value between $300 million and $500 million. More
Chardan NextTech Acquisition 2 Corp. (NASDAQ:CNTQ) announced this afternoon that it has secured a $75 million loan for its combination with energy storage firm Dragonfly Energy. The parties entered into a debt commitment letter with CCM Investments 5 LLC, an affiliate of Chardan Capital Markets, and EICF Agent LLC, for a $75 million senior secured term loan facility concurrently with the closing under the business combination agreement. More
Liberty Media Acquisition Corp. (Nasdaq: LMAC) filed a proxy this afternoon for a shareholder vote to liquidate early. Liberty Media's current completion deadline is January 26, 2023, but today's filing is asking shareholders to approve an amendment that would allow the Board to change the date to no later than December 30, 2022. More
