Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Pagaya Technologies weighs takeover of Sunlight Financial, Lanvin Group sales rise 37% to €422 million, and Mexico’s Covalto delays Nasdaq listing to 2024
Pagaya Technologies Weighs Takeover of Sunlight Financial
Pagaya Technologies Ltd. (NASDAQ:PGY) is exploring an acquisition of Sunlight Financial Holdings Inc.(NYSE:SUNL), which helps homeowners finance rooftop solar panels, people with knowledge of the matter said.
The Tel Aviv-based financial technology company has expressed interest in Sunlight, according to the people, who asked not to be identified discussing confidential information.
Shares of Sunlight soared as much as 122%. They were up 81% to 59 cents each at 1:33 p.m. in New York trading Thursday, giving the company a market value of $79 million. Pagaya’s shares were up 4.2% to 95 cents, giving it a market value of $672 million.
Both Pagaya, whose technology is used to originate consumer loans, and Sunlight went public via mergers with blank-check companies.
READPost-SPAC, Lanvin Group sales rise 37% to €422 million
Lanvin Group (NYSE:LANV) said revenues rose 37 percent to €422 million in 2022 and the company is pushing ahead with its plans to break even in 2024. It follows the group’s debut on the New York Stock Exchange in December through a SPAC deal with Primavera Capital Acquisition Corporation, when it was valued at $1.3 billion.
Flagship brand Lanvin was the biggest sales driver in 2022, reporting a 64 percent year-on-year increase to €120 million. Revenues at the luxury Italian footwear brand Sergio Rossi, which the group acquired in July 2021, increased 116 percent to €62 million. All other brands in the portfolio saw double-digit sales growth. Revenues at Italian menswear tailoring brand Caruso grew 25 percent to €31 million; American luxury knitwear brand St John reached €86 million, up 17 percent; and Wolford, known for its tights, bodysuits and underwear, saw revenues reach €125 million, up 15 percent from the previous year.
Mexico’s Covalto quietly delays Nasdaq listing to 2024
Mexican digital and banking services platform Covalto has pushed back its much-anticipated plans to list on the Nasdaq exchange through a SPAC to 2024, according to a filing to the U.S. Securities and Exchange Commission
The company had initially sought to go public in the first quarter, seeking to be the first Mexican fintech to trade publicly on a U.S. stock bourse. However, dampened markets have seen few listings and a near-hiatus of SPACs globally so far this year.
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McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...
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....