The Latest SPAC News and Rumors: September 22, 2023
by Nicholas Alan Clayton on 2023-09-22 at 11:26am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 


Heard on the Street: VinFast’s SPAC Backers Are Backing Out

Even by the standards of electric-vehicle startups, the $40 billion market value of Vietnamese electric-vehicle startup VinFast is wild, following its combination with Black Spade last month.

The company reported results on Thursday. More interesting than the second-quarter numbers, though, was an update on the capital structure. The company last week filed documentation with the Securities and Exchange Commission to release lockup restrictions on 3.1% of its shares, worth about $1.25 billion at the current price. The shares were down 7% in morning trading.

READ

Yubico SPAC Trading Offers Glimmer of Light to Swedish Listings

As Sweden’s first SPAC completed a deal, five months after announcing it and more than two years after launching, it may also give a small jolt to an otherwise dormant listings market, Bloomberg reports.

The Nordic country, which back in 2021 vied for the top spot as Europe’s hottest IPO market, has seen its listings scene grind to a halt as investors adjust to a world of surging financing costs.

ACQ Bure AB, one of Sweden’s few SPACs, merged Wednesday with cybersecurity firm Yubico AB at a valuation of $800 million. Yubico’s key product is the YubiKey, a physical key used to add a layer of security when logging in on websites or computers.

READ


Maxeon to acquire shingled cell solar patents from Complete Solaria

Maxeon Solar Technologies says that it is acquiring Complete Solaria’s dealer channel operations, as well as its solar panel patent portfolio relating to shingled cell solar panel technology.

The shingled cell technology, originally developed by SunPower, is incorporated into Maxeon’s Performance line of solar modules. The 425 W modules use bifacial mono-PERC solar cells made on large-format eight-inch G12 wafers, and have an efficiency of 20.6%, according to Maxeon. Maxeon was spun off from SunPower in 2020, when both became separate entities. […]

According to Will Anderson, CEO of Complete Solaria, which combined with Freedom 1 in July, after the transaction is complete, the company plans to concentrate on it core systems segment.

READ
Recent Posts
by Kristi Marvin on 2023-12-02 at 11:45am

Terms Tracker for the Week Ending December 1, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. For the most part, this was a quiet week for filings being that it followed the Thanksgiving holiday. Ideally, bankers, lawyers and teams got a...

by Marlena Haddad on 2023-12-01 at 5:39pm

Aimei Health Technology Co., Ltd (NASDAQ: AFJKU) announced the pricing of its $60 million IPO this evening. Its units are expected to begin trading on the Nasdaq under the symbol “AFJKU” on Monday, December 4, 2023. After the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to...

by Marlena Haddad on 2023-12-01 at 4:43pm

PROOF Acquisition Corp I (NYSE: PACI) announced this afternoon that it has closed its business combination with private aviation company Volato after shareholders approved the deal at a meeting on November 28. In total, including previous shareholder votes, shareholders opted to redeem an aggregate of 99.93% of PACI’s trust, leaving it with less than $215,000...

by Marlena Haddad on 2023-12-01 at 9:34am

Adit EdTech (NYSE: ADEX) announced this morning that its shareholders have approved its business combination with bitcoin self-mining company Griid Infrastructure at a special meeting held yesterday, November 30. A total of 8,520,710 shares of common stock, representing approximately 95.7% of the outstanding shares entitled to vote, were present at the meeting, constituting a quorum...

by Nicholas Alan Clayton on 2023-12-01 at 7:49am

At the SPAC of Dawn There had been hopes that this week would take one world conflict off the board, but combat has resumed in the Middle East as other eyes are likely to be fixed on new Fed comments today. The fighting in Gaza continues to not appear to have appreciable affects on the...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved