Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
$1 bln metals SPAC deal backed by Glencore, automakers collapses
A $1 billion metals deal by blank-cheque fund ACG Acquisition Co has been terminated following delays when the different sides, which included a leading global miner and top automakers as anchor investors, tried to revise it, ACG said on Thursday.
ACG , a London-listed special purpose acquisition company (SPAC), planned to buy a nickel mine and a copper mine from Appian Capital, betting on rising demand for metals needed for the global green energy transition.
In June, global miner Glencore , Chrysler parent Stellantis and Volkswagen’s battery unit PowerCo agreed to back the deal through an equity investment. It was expected to close in August.
Olympique Lyonnais plan to raise €300m, sell assets and scrap SPAC deal
Textor’s Eagle Football Holdings completed the takeover of Lyon at the end of last year, with the club valued at €884 million (US$932.21 million). The deal, backed by US private equity firm Ares Management, made the Ligue 1 team the fourth to be affiliated with Eagle Football, joining Premier League side Crystal Palace, Brazilian outfit Botafogo and Belgian team RWD Molenbeek. […]
Judge halts SPAC dissolution after law firm sues for fees from failed merger
A Delaware judge is temporarily blocking a special purpose acquisition company’s plan to dissolve after its former law firm Schulte, Roth & Zabel sued to recover more than $1.9 million in legal fees for work on a now-failed merger with the Philippines’ largest casino.
Vice Chancellor Travis Laster of Delaware Chancery Court on Wednesday granted Schulte’s motion for a temporary restraining order to prevent its former SPAC client 26 Capital Acquisition Corp from liquidating and dissolving before it pays its legal fees.
Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....
1RT Acquisition Corp. (NASDAQ:ONCHU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ONCHU”, Wednesday, July 2, 2025. The new SPAC plans to target company in the digital asset ecosystem involved in the creation, storage, exchange or management of such assets, whether...
D. Boral ARC Acquisition II Corp. (NASDAQ:ARBCU) has filed for a $250 million SPAC to give underwriter D. Boral a second in-house SPAC to pursue deals with. The new SPAC offers investors a 1/2 warrant and an initial 18-month time frame to complete a deal. D. Boral II’s sponsor may automatically extend this once by...
Ribbon (NASDAQ:RIBB) has entered into a definitive agreement to combine with Japanese biotech firm DRC Medicine at a pro forma equity value of $422 million. Tokyo-based DRC Medicine manufactures reusable anti-bacterial and anti-allergen wearables and aims to go deeper into the medical device and pharmaceutical space. Transaction Overview Ribbon is expected to provide $50.4 million...