Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: PlayUp pauses capital raise after business hit by regulator, Bridger Aerospace enters into definitive purchase agreement with Bighorn Airways, and True Velocity acquires Delta P
PlayUp pauses $10m capital raise after US business hit by regulator
PlayUp, the Australian fantasy sports betting outfit, has paused its $10 million capital raise until it can sell its business in the United States.
The decision to pause the capital raise comes after New Jersey’s gambling regulator, the Division of Gaming Enforcement, revoked PlayUp’s licence to provide betting services in the state.
PlayUp originally planned to merge with IG Acquisition Corp., but the business combination was terminated in January.
READBridger Aerospace Enters into Definitive Purchase Agreement with Bighorn Airways
Bridger Aerospace Group Holdings, Inc., (NASDAQ: BAER), one of the nation’s largest aerial firefighting companies, today announced that it has entered into a definitive purchase agreement with Bighorn Airways, Inc. (“Bighorn”), a specialty aviation company based in Sheridan, WY. Bridger will acquire Bighorn’s fleet of 12 aircraft used for wildfire smoke jumping as well as special mission transport and delivery for government customers. The transaction, valued at $39 million, is expected to close by the end of September 2023 and is subject to normal and customary closing conditions. The acquisition will be financed through a
True Velocity Acquires Suppressor Manufacturer Delta P Design
Texas-based ammunition manufacturer TV Ammo, Inc. (“True Velocity”) announced today it has acquired advanced suppressor technology company Delta P Design (“Delta P”).
The strategic acquisition, approved by the True Velocity Board of Directors earlier this month, further strengthens the company’s portfolio of American-made advanced, lightweight ammunition technology and next-generation weapon systems.
As previously announced on November 1, 2022, TV Ammo, Inc. entered into a business combination agreement with Breeze Holdings Acquisition Corp. (“Breeze Holdings”) (NASDAQ: BREZ).
Real estate marketplace Opendoor (NASDAQ:OPEN) is poised to be the latest de-SPAC to take a double-digit jump on earnings as it heads towards the weekend up +10%, having spiked as high as +27% earlier in the day. The movement comes as the former Social Capital II target reported progress towards profitability despite a high rates...
At the SPAC of Dawn Coinbase (NASDAQ:COIN) notched a surprise profit of over $1.5 billion in the first quarter of 2024, well exceeding estimates, demonstrating the powerful effect of publicly traded ETFs have had on crypto marketplaces since the start of the year. The result has pushed the company to bump up its own guidance...
Online casino and sports company Rush Street (NYSE:RSI) is up +18.4% in trading today on the back of a solid first quarter earnings release, bringing the company’s stock to its highest price since the second half of 2022 (currently $7.60). This makes it the latest in a line of 2020 and 2021 de-SPACs that have...
Mountain Crest V (NASDAQ:MCAG) broke a long dealmaking silence by SPACs this morning, albeit with a non-binding agreement to combine with Seoul-based diagnostic biotech firm CUBEBIO. The term sheet would give the company a $620 million pre-transaction equity value and help accelerate the rollout of CUBEBIO’s CEED-NOVUS cancer screening kit products. The company signed an...
Churchill Capital Corp IX (NASDAQ:CCIXU) announced the pricing of its $250 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CCIXU”, Thursday, May 2, 2024. The new SPAC will conduct a broad search and has not limited itself to any particular sector or focus, but it plans to...