Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Circle blames SEC for deal collapse, Vacasa slashes 17% of workforce, and Hindenburg targets Adani Group after bets against Nikola
Circle Blames SEC for Collapse of $9B SPAC
Stablecoin company Circle says the SEC is to blame for its failure to go public.
The company told the Financial Times (FT) in an interview published Wednesday (Jan. 25) that the $9 billion deal was called off last year not because of the rocky cryptocurrency market, but because the Securities and Exchange Commission (SEC) had not approved it.
READVacasa Slashes 17% of Workforce in Second Recent Round of Layoffs
Vacation rental property manager Vacasa (NASDAQ:VCSA) is eliminating 1,300 positions, which was 17 percent of its workforce, as the company determined it had to make deeper improvements to operations. The firings took place Tuesday, just three months after the company axed 280 staffers.
READUS Short Seller Takes On Asia’s Richest Man After Targeting Nikola and Twitter
US short seller Hindenburg Research LLC is targeting Asia’s richest man with accusations of market manipulation and fraud after a run of often-successful bets against companies ranging from electric-vehicle maker Nikola Corp. (Nasdaq: NKLA) to Twitter Inc.
The firm run by Nate Anderson published an almost 100-page report on Gautam Adani’s Adani Group, sending shares of the Indian group’s companies tumbling Wednesday. Hindenburg said it’s short Adani securities via derivatives and US-traded bonds. Adani Group rejected the accusations as “baseless” and “selective misinformation.”
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Terms Tracker for the Week Ending September 22, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. SPACs finally saw two new S-1 filings this week, the first to file since August 24th. Hainan Sirius Acquisition Corp. filed first on Thursday and...
Latest SPAC Liquidations: LF Capital Acquisition Corp. II LF Capital Acquisition Corp. II (LFAC) to Liquidate on October 3, 2023 LF Capital Acquisition Corp. II (Nasdaq: LFAC), today announced that the directors of the Company have determined to dissolve and liquidate the Company. The redemption of the Public Shares is expected to be completed on...
Latest Non-Redemption Agreements: Yotta Acquisition Corp.,Live Oak Crestview Climate Acquisition Corp. Yotta Acquisition Corp. (YOTA) Adds Non-Redemption Agreements Yotta Acquisition Corp. (NASDAQ:YOTA) entered into non-redemption agreements with certain unaffiliated third parties in exchange for such third parties agreeing not to redeem an aggregate of 598,680 shares of the Company’s common stock. In exchange for the foregoing...
Twin Ridge (NYSE:TRCA) announced this afternoon that it plans to convene and then adjourn its extraordinary general meeting of its shareholders originally to be held on September 26 at 11:30 a.m., Eastern Time. Twin Ridge intends to hold the new meeting at 11:30 a.m., Eastern Time, on October 3, 2023. Additional details were not given as to...
Social Leverage Acquisition Corp I (Nasdaq: SLAC) and W3BCLOUD Holdings Inc. announced this afternoon that they have mutually agreed to terminate their business combination agreement. The reasons cited were once again “due to existing market conditions”, which most likely implies the current capital market conditions as well as the fact that W3BCLOUD works within the...