Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Singapore’s Carousell Group cuts 10% of total headcount, and Graphjet Technology becomes first Malaysian company to join World Economic Forum
Singapore’s Carousell Group cuts 10% of total headcount, Co-Founder says ‘deeply sorry’
Singapore-headquartered recommerce group Carousell announced the group is cutting 110 roles or about 10 percent of the company’s total headcount.
“Together with my co-founders and group leadership, we decided to reduce the size of our team by about 110 roles, representing 10 percent of our group’s total headcount. Only teammates from some business units are affected,” its Co-Founder and Chief Executive Officer Quek Siu Rui said in a post on its website last Thursday (Dec 1). ” Only teammates from some business units are affected.”
Earlier in May this year, Bloomberg reported Carousell has ended talks to go public through a merger with blank-check company L Catterton Asia Acquisition Corp (NASDAQ:LCAA) amid market volatility.
READGraphjet Technology Becomes First Malaysian Company to Join the World Economic Forum
Graphjet Technology Sdn. Bhd., the world’s first and only graphene and graphite producer using innovative waste to super-material conversion technology, today announced that it has joined and partnered with the World Economic Forum (WEF). The WEF is an international non-governmental and lobbying organization based in Switzerland. Graphjet is the first Malaysian company to join the WEF.
Privately held Graphjet has also previously announced a projected $1.5 billion business combination with Energem Corp (Nasdaq: ENCP), a special purpose acquisition company, by which Graphjet will become a United States based holding corporation listed on Nasdaq.
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Terms Tracker for the Week Ending April 19, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Passover and school spring break starts next week, which most likely means a slowdown in SPAC filing activity. Although Churchill IX is now rumored to...
Despite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...
At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...