Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: AgileThought files for Chapter 11 bankruptcy, Hostess’ stock surges on talks of sale, and Barca to move HQ of its content subsidiary to the Netherlands
IT services firm AgileThought files for chapter 11 bankruptcy, return to private company
After going public in 2021, Irving-based IT services company AgileThought Inc. (NASDAQ: AGIL) announced a financial restructuring deal with Blue Torch Finance LLC that is set to take the company off the market.
The company announced a go-private transaction Monday, underpinned by an asset purchase agreement with an affiliate of Blue Torch Finance. In order to run this deal, AgileThought filed for bankruptcy under Chapter 11, which allows companies to stay in business while restructuring their financial obligations.
When the company went public in 2021, it had an initial market value of $491 million. AgileThought linked up with a special purpose acquisition company to go public. LIV Capital Acquisition Corp., headquartered in Mexico, backed the SPAC after it evaluated 80 companies before deciding on AgileThought.
READHostess’ stock surges on talks of sale
Shares of Hostess Brands, Inc. (NASDAQ:TWNK) surged nearly 30% in mid-day trading on Aug. 25, eventually finishing 21.7% higher for the day, on news that the Lenexa-based snacks maker is exploring a sale after receiving takeover interest.
Citing sources familiar with the matter, Reuters said a number of companies have expressed interest in Hostess, including General Mills, Inc., Mondelez International, Inc., PepsiCo, Inc. and Hershey Co.
Barça to move headquarters of its content subsidiary to the Netherlands before Nasdaq IPO
Barcelona has chosen to establish the headquarters of Barça Media, its content creation business branch, in the Netherlands in order to float it on the Nasdaq stock exchange, according to records filed with the United States Securities and Exchange Commission (SEC). The Spanish soccer giant follows in the footsteps of Ferrovial, the Spanish infrastructure multinational that recently and controversially moved its headquarters to the Netherlands to make the leap to Wall Street and raise capital on the American stock exchange.
The president of Barça, Joan Laporta, wants to list Barça Media through a complex operation that involves a merger with Mountain & Co. I Acquisition Corp (NASDAQ: MCAA), a SPAC.
Chamath Palihapitiya’s Venture Firm Offered to Sell Hundreds of Startup Stakes
Social Capital, the investment firm led by venture capitalist Chamath Palihapitiya, tried to sell stakes in hundreds of young companies in June of this year, according to people familiar with the matter. The stakes for sale were worth $312 million in total based on the valuations at which the companies last raised money, the people said.
It’s not clear what prompted Social Capital to want to sell its stakes in the 258 companies, and it couldn’t be learned whether the firm completed the sales.
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NMP Acquisition Corp. (NASDAQ:NMPAU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “NMPAU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company that has a resilient business model with potential to scale up revenue. NMP’s management...
Cohen Circle Acquisition Corp. II (NASDAQ:CCIIU) announced the pricing of its $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CCIIU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company in the financial services technology (fintech) sector and fintech adjacent sectors that...
Indigo Acquisition Corp. (NASDAQ:INACU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “INACU”, Tuesday, July 1, 2025. The new SPAC plans to combine with an established, profitable company whose growth potential can benefit from its team’s expertise. Indigo’s management team is...
After a quiet June, July is set to be active throughout the month with nine de-SPACs and sponsors coming unlocked from their trading restrictions. This timing is most fortuitous for insurance investor Abacus Life (NASDAQ:ABL) and East Resources, which took it public in 2023, as it is the best performer of this group of companies...
Pyrophyte II (NYSE:PAII.U) has filed for a $175 million SPAC to dig for a natural resources target while the team’s first deal remains pending. The new SPAC is offering investors 1/2 warrants in each unit and it will have 24 months to complete a business combination without asking shareholders for an extension. It is the...