Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Quanergy files for bankruptcy, Royalty Management becomes a member in Texas Tech University’s Center for Advancing Sustainable and Distributed Fertilizer Production, and Bakkt study finds future crypto purchase consideration holds steady
Ex-SPAC Quanergy Files for Bankruptcy Less Than a Year After Going Public
Quanergy Systems Inc. (NYSE:QNGY), a maker of high-tech sensors and related software, filed for bankruptcy about 10 months after going public through a merger with a blank-check company.
The firm will try to sell itself out of bankruptcy and expects to keep operating in the meantime, according to a statement. Quanergy listed assets and liabilities of as much as $50 million each in its Chapter 11 petition.
In February, the company said it closed its deal to go public through a business combination with CITIC Capital that netted it close to $50 million of cash.
READAmerican Acquisition Opportunity Inc.’s Merger Target, Royalty Management, Becomes Member in Texas Tech University’s Center for Advancing Sustainable and Distributed Fertilizer Production
American Acquisition Opportunity Inc.’s (NASDAQ:AMAO) merger target company, Royalty Management Corporation (RMC), announced today that it has become a gold member of Texas Tech University’s recently created Center for Advancing Sustainable and Distributed Fertilizer Production, or ‘CASFER’ organization. Becoming a gold members of CASFER enables RMC to have access to the technologies and intellectual property developed out of CASFER, in particular the innovative and novel technologies to produce, capture, and recycle nitrogen-based fertilizers resulting from farming activities.
READBakkt Study Finds Future Crypto Purchase Consideration Holds Steady Despite Recent Crypto Failures
Bakkt Holdings Inc (NYSE: BKKT), a digital asset platform that unlocks crypto and drives loyalty to create delightful, connected experiences for a broad range of clients, today released findings from its “Bi-Annual U.S. Consumer Crypto Sentiment Study” of more than 2,000 U.S. consumers who own crypto or are interested in crypto, examining their interest in crypto following the summer volatility, their preferred security features and outlook for crypto’s role in the global financial system.
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Target Global I (NASDAQ:TGAA) has entered into a definitive agreement to combine with robotics firm VenHub at an enterprise value of $715 million. Pasadena, California-based VenHub is developing autonomous smart stores that serve customers products through app-based orders and a robotic serving and sorting arm. The combined company is expected to trade on the Nasdaq...
At the SPAC of Dawn Travel and hospitality were hot sectors for SPACs as they boomed during the pandemic because there was a obvious upside story to tell about where each target might be once the world reopened. Since then, SPACs have largely shied away from the industry. Part of this has been the less...
Once again, the November 2024 corporate actions continues the trend of SPAC teams seeking additional extensions beyond their first one as they work to close their combinations with the remaining funds after redemptions. However, both announcements and completion vote-type corporate actions events were unusually light this month. Extension Votes In November, there were a whopping...
Future Vision II (NASDAQ:FVNNU) has entered into a definitive agreement to combine with adtech firm Viwo at an equity value of $100 million. Beijing-based Viwo provides AI-enabled targeting technology for marketers and brands in China. The combined company is expected to trade on the Nasdaq once the deal is completed by the end of the...
At the SPAC of Dawn The SPAC market could be primed to wake up from its Turkey Day slumber with a bang this week as both Shepherd Ave (NASDAQ:SPHAU) and Tavia (NASDAQ:TAVIU) have lined up to IPO and five more SPACs have scheduled votes. Late Friday also saw the Future Vision II (NASDAQ:FVNNU) announce a...