Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Kazuo Okada vows to keep up Philippine casino fight following arrest, and Sonder president, CFO to step down
Kazuo Okada vows to keep up Philippine casino fight after arrest
Gaming tycoon Kazuo Okada has vowed to fight for his interests in the multibillion-dollar Philippine casino that bears his name after his arrest in Manila this week opened a new chapter in the drawn-out dispute over the company.
Okada is facing charges of “grave coercion” in relation to the physical takeover of the Okada Manila integrated resort and casino by his associates in May. The tycoon was arrested by Philippine police on Monday upon his arrival at the Manila airport from Japan and was later released after posting bail.
The dispute has delayed indefinitely Okada Manila’s plans to list on Nasdaq by merging with 26 Capital Acquisition (NASDAQ:ADER), a special purpose acquisition company, in a deal that would value the casino at $2.5 billion.
READSonder President, CFO to Step Down, Join Board
Sonder Holdings (NASDAQ: SOND) president and CFO Sanjay Banker will step down from those positions and join the short-term accommodation provider’s board of directors, effective Jan. 1, 2023, the company announced Monday.
Sonder earlier this year went public through a merger with Gores Metropoulos II, Inc.
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Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...