Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Shares in Better claw back some lost ground, Ashington to acquire heart failure innovator Calon, and Logiq sees revenue growth ahead of merger
SoftBank-backed mortgage lender Better steady after bleak debut
Shares in Better Home & Finance Holding (NASDAQ:BETR) clawed back some lost ground in early trading on Friday, after the online mortgage lender plunged in a dismal debut a day earlier following a merger with a blank-check company.
The company’s shares climbed 7% to $1.23 by 09:40 a.m. ET on Friday. They had finished Thursday’s session down 93.4%.
Better planned to go public via a $6 billion special-purpose acquisition company merger with Aurora Acquisition Corp in 2021, but delayed the deal amid a U.S. Securities and Exchange Commission inquiry and multiple rounds of layoffs.
Ashington to acquire heart failure innovator Calon
London-listed Ashington Innovation PLC (LSE:ASHI) has entered a non-binding agreement to acquire 100% of the outstanding shares in Calon Cardio-Technology Limited, contingent upon the successful reverse takeover of Cell Therapy Limited (trading as Celixir) announced on 19 August.
Calon is a UK-based medical device company at the forefront of developing the Left Ventricular Assist Device (LVAD), a trademarked implantable heart pump known as Mini-VAD.
Ashington is a SPAC formed to acquire businesses in the wider technology sector.
Logiq sees revenue growth ahead of SPAC merger; eyes expansion and M&A opportunities
Logiq Inc. (NEO:LGIQ.AQN, OTCQX:LGIQ) reported a sizable increase in 2Q revenue ahead of its pending merger with ABRI SPAC I Inc. (NASDAQ:ASPA).
The New York-based firm reported revenue of approximately $4.86 million, a sequential increase of 37% and 47% higher compared to the same period in the previous year.
One key highlight was the transition of a major consumer product client, signed in November 2022, to Logiq’s programmatic advertising platform, which is expected to generate high-margin revenues, contingent upon a listing on a senior stock exchange.
Athena Consumer Acquisition Corp. (NYSE:ACAQ) announced this afternoon that its stockholders approved its combination with German EV-maker e.GO at a special meeting held earlier today. Additionally, Athena Consumer’s warrant proposal to convert all outstanding warrants to 0.175 shares in the combined company was also approved. A total of 884,880 shares of Athena Class A Common...
October is set to be a quiet month for lock-up expirations with only four de-SPACs and four sponsors now open to trade their shares for the first time. The first customer is Bitdeer Technologies. Its shareholders and the Blue Safari sponsor both stand to gain the most out of this group from moving some of...
Graf Acquisition Corp. IV (NYSE:GFOR) announced in an 8-K this afternoon that its shareholders approved its combination with NKGen Biotech at a special meeting September 25. A total of 3,386,528 shares were redeemed in connection with the vote, leaving Graf IV with about $27.6 million in the tank and a final redemption rate of 84.3%....
Anzu Special Acquisition Corp I (NASDAQ:ANZU) has closed its combination with Envoy Medical and its shares and warrants are to begin trading on the Nasdaq under the symbols “COCH” and “COCHW” on October 2. The SPAC secured shareholder approval on September 27 and still has not divulged redemption figures. But, it went into the vote...
Mercato Partners (NASDAQ:MPRA) closed its combination with Brazilian software firm Nuvini this afternoon and its shares and warrants are expected to begin trading on the Nasdaq under the symbols “NVNI” and “NVNIW” on October 2. The combined company will continue to be led by its existing CEO and a seven-member Board including Mercato CEO Dr....