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.
READAt the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...
At the SPAC of Dawn As April’s sleepy month for SPAC news continues, there is only one special meeting on the docket to consider a SPAC deal approval, that being today’s vote on Pegasus Digital Mobility‘s (NYSE:PGSS) combination with equipment manufacturer Schmid. Three more SPACs are facing extension votes this week, including Pyrophyte (NYSE:PHYT), whose...
Terms Tracker for the Week Ending April 19, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Passover and school spring break starts next week, which most likely means a slowdown in SPAC filing activity. Although Churchill IX is now rumored to...
Despite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...