Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Wentworth appoints Larry Roth as Executive Chairman, James Murdoch and Uday Shankar veer away from SPACs
Wentworth Management names industry veteran Larry Roth as post-close Executive Chairman
Upon completion of the business combination, wealth management industry leader Larry Roth will become executive chairman of the newly created firm, named Binah. Current Wentworth President Craig Gould will serve as Binah’s CEO, and David Shane, industry veteran and former CFO with Sanctuary Wealth will become Binah’s CFO.
Mr. Roth has previously served as Chief Executive Officer of AIG Advisor Group and Chief Executive Officer of Cetera Financial Group, two of the largest independent wealth management enterprises in the country.
Wentworth announced a combination agreement with Kingswood Acquisition Corp. (OTCE: KWAC) in July. The parties expect to close the transaction in the first half of 2023. The news of Roth’s appointment was joined by the update that Kingswood has filed a new S-4 for the deal.
READJames Murdoch-Uday Shankar ditch SPAC route for their M&A ventures
Seven Islands Inc, a special purpose acquisition company (SPAC) sponsored by James Murdoch and former STAR India CEO, Uday Shankar, has decided to abandon its earlier plan to raise $300 million through an initial public offering (IPO) in the US.
Seven Islands will now make their investments through Bodhi Tree Systems.
READTerms Tracker for the Week Ending May 9, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. After the sprint that was last week, with nine IPOs and six new SPAC filings, this week took a breather. Only two SPACs priced, there...
Lake Superior (NASDAQ:LKSPU) has filed for a $100 million SPAC as its CEO attempts to go three-for-three with SPACs that led to completed deals. This new vehicle has one right to a 1/6 share in each unit and some common features of a SPAC underwritten by Cohen & Company in this current climate. Although the...
At the SPAC of Dawn De-SPACs were among the biggest movers in yesterday’s stock market rally, but most of this momentum came on the backs of direct earnings performance. Only three US-listed companies had bigger one-day gains than quantum computing firm D-Wave’s (NYSE:QBTS) +51.2% jump. This came as the company announced $15 million in revenue...
EGH Acquisition Corp. (NASDAQ:EGHAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EGHAU”, Friday, May 8, 2025. The new SPAC aims to combine with a target company in the energy transition or sustainability arena that help industries achieve efficiencies and decarbonization....
At the SPAC of Dawn Fed Chair Jerome Powell announced yesterday that the body intends to keep rates unchanged, earning him the moniker “FOOL” by US President Donald Trump. But, the announcement could bring some stability to market, which has seen macro factors pull it a variety of directions since the start of the year....