Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: EQT Private Equity completes acquisition of Billtrust, Truth Social introduces direct messaging to platform, and Florida Office of Insurance Regulation approves East Resources business combination with Abacus Life
EQT Private Equity completes acquisition of Billtrust in $1.7B deal
Global investment firm EQT Private Equity has completed its acquisition of B2B payments company Billtrust (NASDAQ:BTRS). The transaction was announced on September 28 and was approved by shareholders on December 13, 2022.
The all-cash transaction values Billtrust’s equity at about $1.7 billion and comes a year after the company began trading on Nasdaq. Under the terms, Billtrust shareholders will receive $9.50 per share in cash. With the completion of the acquisition, Billtrust has ceased trading and will no longer be listed on Nasdaq.
Billtrust combined with South Mountain Merger Corp. in January 2021.
READDirect Messaging Comes to Truth Social
Today, Trump Media & Technology Group (“TMTG”) announced that direct messaging (“DM”) is now available on the iOS, Android, and web versions of Truth Social. Users can now privately DM fellow users on a one-to-one basis with text-based messages containing up to 500 characters. Future updates will allow users to react to messages with emojis and exchange media attachments.
READFlorida Office of Insurance Regulation Approves East Resources Acquisition Company’s Business Combination with Abacus Life
Abacus Settlements, LLC and Longevity Market Assets, LLC, a leading buyer of life insurance policies and vertically integrated alternative asset manager specializing in specialty insurance products, announced today that the Florida Office of Insurance Regulation executed a consent order approving East Resources Acquisition Company’s (NASDAQ: ERES) business combination with Abacus.
READAmerican Acquisition Opportunity’s Merger Target, Royalty Management, Completes Investment into Heart Water Inc. and Partners on Royalty Financing Structure
American Acquisition Opportunity Inc.’s (Nasdaq:AMAO) merger target company, Royalty Management Corporation (RMC), a sustainably-driven, cash flow-oriented, royalty investment and development company, announced today that it has made an investment into Heart Water, Inc. and entered into an agreement whereby Royalty Management Corporation has the right to provide royalty based financing for the build out of Heart Water systems for a royalty-based payment structure per gallon of water sold from such facilities.
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Horizon Space II (NASDAQ:HSPT) has signed a definitive agreement to combine with clinical stage biotech firm SL Bio Ltd. for $5.57 billion in equity consideration. Taipei, Taiwan-based SL Bio is developing drug candidates to treat several cancer types while also selling over-the-counter beauty products derived from natural extracts. The combined company is expected to trade...
At the SPAC of Dawn This is set to be a slower week for votes with just two SPACs seeking an extension and none yet scheduling a meeting for approving a business combination. Integrated Rail & Resources (OTC:IRRX) primed the pump somewhat for investors ahead of its Tuesday special meeting by announcing it has entered...
Terms Tracker for the Week Ending May 9, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. After the sprint that was last week, with nine IPOs and six new SPAC filings, this week took a breather. Only two SPACs priced, there...
Lake Superior (NASDAQ:LKSPU) has filed for a $100 million SPAC as its CEO attempts to go three-for-three with SPACs that led to completed deals. This new vehicle has one right to a 1/6 share in each unit and some common features of a SPAC underwritten by Cohen & Company in this current climate. Although the...
At the SPAC of Dawn De-SPACs were among the biggest movers in yesterday’s stock market rally, but most of this momentum came on the backs of direct earnings performance. Only three US-listed companies had bigger one-day gains than quantum computing firm D-Wave’s (NYSE:QBTS) +51.2% jump. This came as the company announced $15 million in revenue...