Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Britishvolt considers London listing, Eli, Peyton Manning-backed BBQGuys in talks with Velocity, and Hong Kong’s Prenetics plans $1.3 billion SPAC merger
U.K. Electric-Car Battery Startup Now Considering London Listing
Britishvolt Ltd., which is about to start building the U.K.’s first giant battery factory, is considering listing on the London Stock Exchange to help finance the 2.6 billion-pound ($3.6 billion) project that could play a major role in helping the nation reduce carbon emissions from transportation, according to Bloomberg.
A decision on whether to list in London or New York will be made within three months, Orral Nadjari, founder and CEO of Britishvolt, said in an interview. The company was due to decide by the end of June whether to list in the U.S. through a merger with a SPAC, but it’s chosen to extend the deadline.
READEli, Peyton Manning-Backed BBQGuys in Talks With Velocity
Online grill retailer BBQGuys is in talks to go public through a merger with Velocity Acquisition Corp., according to Bloomberg.
The combined company is set to be valued at around $900 million, including debt. Unlike some other recent SPAC transactions, there will be no PIPE raised to support the deal.
READHong Kong Biotech Start-Up Prenetics Plans $1.3 Billion SPAC Merger
Hong Kong biotech company Prenetics is set to merge with Artisan Acquisition in a deal that will value the new entity at $1.3 billion or more, according to CNBC.
The transaction is expected to close by the end of this year. The SPAC is already traded on the Nasdaq under the ticker ARTAU.
READBeware of SPAC Listings, EU Market Watchdog Tells Investors
The European Securities and Markets Authority (ESMA) said that SPACs “may not be appropriate for all investors” due to risks from dilution, conflicts of interests and uncertainty as to the identification and evaluation of the target company.
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Latest SPAC Liquidations: Schultze Special Purpose Acquisition Corp. II Schultze Special Purpose Acquisition Corp. II (SAMA) to Liquidate on October 11, 2023 Schultze Special Purpose Acquisition Corp. II (Nasdaq: SAMA), announced that it will redeem all of the outstanding shares of its Class A common stock effective as of October 11, 2023. The Company expects...
Mercato Partners Acquisition Corporation (NASDAQ:MPRA) announced this afternoon via 8-K that its shareholders have approved its combination with Nuvini at a special meeting held earlier today. With 79.74% of the voting power of the Common Stock participating in the vote, the combination was overwhelmingly approved. 7,975,698 shares were recorded voting for the transaction, while only 38,008...
Home Plate Acquisition Corporation (NASDAQ:HPLT) announced that it adjourned this morning’s extension vote without conducting any business and it will pick things up again at 11 am ET October 2. Shareholders at the meeting are to consider giving Home Plate an extra two and half months to complete a deal, moving its deadline from October...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Law firm Schulte sues SPAC over fees from failed Philippine casino merger U.S. law firm Schulte Roth & Zabel is suing its former client 26 Capital Acquisition Corp to recover more than $1.9 million in legal fees...
Fortune Rise Acquisition Corp. (NASDAQ:FRLA) announced this morning that it has changed the target of its letter of intent to combine, but only partially. The SPAC had an existing LOI to merge with its own sponsor, but since that sponsor is now a subsidiary of another company it has to combine with a different version...