Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Forbes explores sale months after terminating SPAC deal and Interra refiles for Hong Kong listing
Forbes explores sale, hires Citigroup as banker
Forbes said on Tuesday it was exploring a sale of its business and had hired Citigroup to manage the process, months after it pulled out of a deal to go public through a SPAC.
“There were many interested parties, so we moved forward with a formal sale process and Citigroup was hired to manage this process,” a Forbes spokesperson said in an emailed response.
In June, Forbes sought to terminate its $630 million deal with former Point72 executive Jonathan Lin-led SPAC Magnum Opus (NYSE:OPA) to go public.
READInterra SPAC Refiles for Hong Kong Listing
A SPAC backed by Agricultural Bank of China Ltd.’s investment banking business has refiled for a listing in Hong Kong after its initial application lapsed.
Interra Acquisition Corp., which was among the first blank-check companies to file to offer its shares in Hong Kong when such vehicles were allowed earlier this year, filed an updated draft prospectus to the local bourse late Tuesday, days after its January application lapsed.
Interra, which is backed by ABCI Asset Management and investment firm Primavera Capital Group, plans to invest in high-growth companies focusing on China and nearby regions that specialize in sectors like innovative technology, consumer and new retail, advanced manufacturing, healthcare and climate action.
Terms Tracker for the Week Ending September 22, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. SPACs finally saw two new S-1 filings this week, the first to file since August 24th. Hainan Sirius Acquisition Corp. filed first on Thursday and...
Latest SPAC Liquidations: LF Capital Acquisition Corp. II LF Capital Acquisition Corp. II (LFAC) to Liquidate on October 3, 2023 LF Capital Acquisition Corp. II (Nasdaq: LFAC), today announced that the directors of the Company have determined to dissolve and liquidate the Company. The redemption of the Public Shares is expected to be completed on...
Latest Non-Redemption Agreements: Yotta Acquisition Corp.,Live Oak Crestview Climate Acquisition Corp. Yotta Acquisition Corp. (YOTA) Adds Non-Redemption Agreements Yotta Acquisition Corp. (NASDAQ:YOTA) entered into non-redemption agreements with certain unaffiliated third parties in exchange for such third parties agreeing not to redeem an aggregate of 598,680 shares of the Company’s common stock. In exchange for the foregoing...
Twin Ridge (NYSE:TRCA) announced this afternoon that it plans to convene and then adjourn its extraordinary general meeting of its shareholders originally to be held on September 26 at 11:30 a.m., Eastern Time. Twin Ridge intends to hold the new meeting at 11:30 a.m., Eastern Time, on October 3, 2023. Additional details were not given as to...
Social Leverage Acquisition Corp I (Nasdaq: SLAC) and W3BCLOUD Holdings Inc. announced this afternoon that they have mutually agreed to terminate their business combination agreement. The reasons cited were once again “due to existing market conditions”, which most likely implies the current capital market conditions as well as the fact that W3BCLOUD works within the...