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.
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Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...
M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...
At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...