Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Virgin Galactic appoints new top lawyer, Trump Media SPAC rises after investors approve merger deadline extension, and Al Maadeed to be first Qatari to list company on NYSE
Virgin Galactic, Preparing for Liftoff, Appoints New Top Lawyer
Virgin Galactic Holdings Inc. (NYSE:SPCE), a commercial spaceflight company backed by billionaire Richard Branson which combined with Social Capital Hedosophia Acquisition Corp., has named Sarah Kim its chief legal officer and corporate secretary.
Kim, who has been general counsel for the newly-merged Topgolf Callaway Brands Inc., will take on those roles as of Dec. 5, Virgin Galactic announced this week. She succeeds former legal chief Michelle Kley, who left Virgin Galactic in July.
READTrump Media SPAC Rises After Investors Approve Merger Deadline Extension
Shares of the SPAC attempting to take public Donald Trump’s social-media company rose more than 5% in afternoon trading after investors extended the deadline for the deal to be completed to September 2023.
The SPAC, Digital World Acquisition (NASDAQ:DWAC), had tried several times in recent weeks to secure the approval of 65% of its investors to extend the deadline, but was unable to do so until Tuesday.
READAl Maadeed first Qatari to list his company on NYSE
Alkuri Global Acquisition Corp, a publicly-traded special purpose acquisition company founded by a Qatari Sultan al-Maadeed, has listed its newly acquired Babylon Holdings Limited in the New York Stock Exchange.
This makes al-Maadeed the first Qatari and Gulf national to establish an American company to be listed on the American stock exchange. The Babylon Holdings Limited has been listed under the ticker symbol ‘BBLN’.
READMENA fintech hubs are channelling funds into the sector but need to keep momentum
The fintech sector in the Middle East and Africa Region (MENA) has already raised $1.73 billion in the first half of 2022, as per a report by global strategy consulting business Strategy&. In 2021, the sector raised $2.5 billion in funding.
The amount of fintech investment in the MENA region reached $448 million in 2021 across 108 transactions. There were also four fintech “exits”—the highest for a single year. A fintech exit includes IPOs, special purpose acquisition companies (SPACs), mergers, and acquisitions.
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Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...
Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...
This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...
At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...
Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...