Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Hong Kong’s first SPAC wins exchange approval for IPO, Tomorrow.io enters agreement with NOAA, and Palihapitiya’s Social Capital leads $375M Palmetto round
Hong Kong’s First SPAC Is Said to Win Exchange Approval for IPO
A blank-check company backed by China Merchants Bank Co.’s overseas asset management arm has become the first to win approval for an initial public offering in Hong Kong.
Aquila Acquisition Corp. received the green light for a listing in the city on Thursday. The SPAC will seek to raise about $300 million in the offering.
READTomorrow.io and NOAA Enter Cooperative Research and Development Agreement
The Tomorrow Companies Inc., developer of a leading platform for global weather and climate security, today announced it has entered into a Cooperative Research and Development Agreement with the National Oceanic and Atmospheric Administration to analyze data to be provided by Tomorrow.io weather satellites, assess its impact on NOAA forecasts, and evaluate use of the data in NOAA’s weather models. Tomorrow.io plans to launch its first satellites starting in late 2022, with a full constellation expected to be in orbit by 2024.
In December, Tomorrow.io announced plans to list on Nasdaq through a merger with Pine Technology Acquisition Corp. (Nasdaq: PTOC).
READPalihapitiya’s Social Capital Leads $375 Million Palmetto Round
Social Capital invested about $220 million in the round, which closed last year. That’s the firm’s biggest single investment, Palihapitiya said in an interview Thursday. The fundraising values Palmetto at more than $1 billion, according to people familiar with the transaction.
READ
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...
At the SPAC of Dawn The last day of the quarter is to play host to a pair of shareholder votes and a possible pricing of Indigo‘s (NASDAQ:INACU) $100 million IPO. This week is also to play host to fresh jobs numbers just before the long July 4 weekend. Black Hawk (NASDAQ:BKHA) was also one...
Terms Tracker for the Week Ending June 27, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. June continued its late-month rally with another five SPAC IPOs pricing this week, bringing the monthly total to 10 and the 2025 year-to-date count to...
Blueport (NASDAQ:BPACU) has filed for a $69 million SPAC that would bring another first-time sponsor team to market. The new SPAC is offering investors a right to a 1/6 share in each unit and it will have 15 months to complete a business combination. It is underwritten by Alliance Global Partners and will not be...