Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: PlayUp embarks on restructuring, close to selling US unit to public company, and PublicSq. launches EveryLife
PlayUp Reportedly Close to Selling US Unit to Public Company
Australia-based PlayUp is close to selling its US operations to an unidentified publicly company traded and will embark upon a significant restructuring, including sizable layoffs.
Last September, PlayUp announced plans to go public via a reverse merger with IG Acquisition Corp., a SPAC controlled by Bradley Tusk. That deal fell apart in January after IG Acquisition claimed PlayUp failed to provide material financial documents in the previous month. The offer valued the gaming company at $350 million.
PublicSq. Launches EveryLife, a Wholly-Owned Subsidiary and Pro-Life Baby Brand
PSQ Holdings, Inc. (“PublicSq.”), the leading marketplace of patriotic businesses and consumers, proudly announces the commercial launch of its wholly-owned subsidiary EveryLife and its first direct-to-consumer product offerings. EveryLife introduces a line of premium baby products, including diapers and wipes, dedicated to celebrating and protecting the miracle of every life. The brand firmly believes that every individual, regardless of their background, socioeconomic status, or circumstances of conception, deserves love, support, and the right to life.
July is a significant month for PublicSq., as it works toward completion of its previously announced proposed business combination with Colombier Acquisition Corp. (NYSE: CLBR).
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Achari Ventures I (NASDAQ:AVHI) has entered into a definitive agreement to combine with medtech firm Vaso Corporation at an equity value of $176 million, or 19.5x its 2022 adjusted EBITDA. Wuxi, China-based Vaso provides IT services and sales support to medical device manufacturers. The combined company is expected to trade on the Nasdaq under the...
EF Hutton Acquisition Corp. I (NASDAQ:EFHT) announced this morning that its shareholders have approved its business combination with E.C.D. Auto Design. At the meeting, there were 5,089,203 shares of common stock, representing approximately 76.82% of the issued and outstanding shares of common stock, present. In connection with the meeting, the company’s stockholders holding 3,470,945 shares,...
Legato Merger Corp. III (NYSE:LEGT) filed for a $175 million IPO yesterday afternoon, becoming the fourth SPAC to file this week. While the other three SPACs that filed their S-1s earlier this week intend to pursue targets in the financial services and biotech industries, Legato III, similar to the earlier Legato SPACs, will focus on...
At the SPAC of Dawn This week ends with an unusually busy earnings calendar as 172 US-listed companies report quarterly figures today. Among them is Exela Technologies (NASDSAQ:XELA), which completed a combination with Quinpario 2 in 2017. The billing software company has gone on to do another SPAC deal on November 29, this time spinning...
FG Merger III Corp. filed for a $150 million IPO yesterday afternoon, marking the third SPAC to file on Wednesday. Similar to Blue Room (NASDAQ:IBLUU), which filed its $200 million IPO yesterday morning, FG Merger III intends to focus its search for a target business in the financial services industry in North America. Notably, FG...