Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Tim Hortons China to Create Data Unit Amid Xi’s Crackdown
Xi’s Data Clampdown Spurs Novel Solution From Tim Hortons China
The company running the Chinese business of Canadian coffee shop chain Tim Hortons is proposing a novel solution to address Beijing’s data security concerns as it seeks to go public in the U.S. through a SPAC, according to Bloomberg.
Tim Hortons China said that as part of its merger with Silver Crest Acquisition Corp. (NASDAQ:SLCR) it will create an independent entity incorporated in China, which will have the “sole purpose” of safeguarding and protecting customer data.
Tim Hortons China will not own any equity in the entity, called NewCo in the filing, which will provide its services back to the parent at cost.
Blue Ocean (NASDAQ:BOCN) has entered into a definitive agreement to combine with digital media company TNL Mediagene at a pre-money enterprise value of $275 million. TNL Mediagene holds the Japanese licenses for a number digital media properties as well as Taipei-based The News Lens. The combined company Is expected to trade on the Nasdaq once...
Priveterra Acquisition Corp. (NASDAQ:PMGM) announced in an 8-K this morning that it plans to adjourn its special meeting to approve its combination with AEON Biopharma from noon today to the same time June 9. The SPAC plans to use this time to further engage with its shareholders as the ballot includes a variety of additional...
Latest Non-Redemption Agreements: EVe Mobility EVe Mobility Acquisition Corp. (EVE) Adds Non-Redemption Agreement On June 5, 2023, EVe Mobility Acquisition Corp. (NYSE:EVE) and the Sponsor entered into non-redemption agreements with unaffiliated third party investors, pursuant to which the Investors have, in connection with the Extension Meeting, agreed not to redeem, or to reverse and revoke any prior...
Latest SPAC Liquidations: ST Energy Transition I, MELI Kaszek Pioneer Corp. ST Energy Transition I Ltd. (STET) to Liquidate on June 7 ST Energy Transition I Ltd. (NYSE:STET) announced today that the Board of Directors has elected to dissolve and liquidate the company. Net of taxes and dissolution expenses, the per-share redemption price for the...
Worldwide Webb Acquisition Corp. (NASDAQ: WWAC) announced this afternoon that it has secured a $5 million PIPE for its proposed merger with consultancy firm Aeries Technology. While most PIPEs are priced at $10 per share, Worldwide Webb’s $5 million subscription agreement was executed at just $4.48 per share in a private placement to be completed concurrently...