Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Betsy Cohen predicts about 30% of SPACs will bust, Ginkgo caught in short-seller selloff, and Sonder expands into France
Betsy Cohen Predicts About a Third of SPACs Will Bust
Blank-check sponsor Betsy Cohen said about 30% of all SPACs in the market will fail, in an interview on Wednesday at the Bloomberg Invest Global conference.
“Either they won’t be able to find companies in the time frame or they will find companies within that time frame but the public market investors will not support them,” Cohen said.READ
Wall Street Darling Ginkgo Caught in SPAC, Short-Seller Selloff
In the world of biotechnology and SPACs, wild fluctuations in stock prices are pretty typical. For Ginkgo Bioworks Inc. (NYSE:DNA) and its who’s-who list of Wall Street backers, it’s been a rough two weeks that’s seen about $5 billion in market value wiped out.READ
Sonder Holdings Inc. Expands into France with Addition of Paris Champs-Elysées Property
Sonder Holdings Inc., a leading next-generation hospitality company that is redefining the guest experience through technology and design, has expanded into France. Sonder recently launched inaugural operations in the country with the management of the Sonder Atala, a 48-unit property located steps from the iconic Champs-Elysées in Paris.
Sonder’s expansion into France follows the recent news of the Company’s plans to be publicly listed through a business combination with Gores Metropoulos II (NASDAQ: GMIIU).READ
Redbox Expands Distribution Footprint of Its Streaming App to the PlayStation 5 Console
Redbox, a leading entertainment company, today announced it has expanded the distribution footprint for its streaming app to the PlayStation 5 console.
The app also gives consumers access to new release movies for rent or purchase through its Transactional Video on Demand service including, Candyman starring Jordan Peele and Stillwater starring Matt Damon. Redbox also announced the Redbox streaming app will soon be available on the PlayStation 4 console as well.
Redbox recently announced a definitive agreement to combine with Seaport Global Acquisition Corp. (NASDAQ: SGAM).READ
Latest Non-Redemption Agreements: EVe Mobility and Swiftmerge EVe Mobility Acquisition Corp. (EVE) Adds Non-Redemption Agreement On June 7, EVe Mobility Acquisition Corp. (NYSE:EVE) and the sponsor entered into further non-redemption agreements with additional unaffiliated third party investors pursuant to which the investors have, in connection with the Extension Meeting, agreed not to redeem their Class A Ordinary...
Latest SPAC Liquidations: Ahren Acquisition Corp. Ahren Acquisition Corp. (AHRN) to Liquidate on June 19 Ahren Acquisition Corp. (Nasdaq: AHRN) today announced its board of directors has determined to redeem all of its outstanding Class A ordinary shares, effective as of June 19. As of the open of business on June 20, the Class A Shares...
ROC Energy Acquisition Corp. (NASDAQ:ROC) announced in an 8-K today that its shareholders have approved its combination with oilfield services company Drilling Tools International (“DTI”) during a special meeting held on June 1. At the meeting, holders of 23,008,929 shares of common stock were present in person or by proxy, representing approximately 85.69% of the voting...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: SMX to create new subsidiary, trueSilver, and enters into exclusive agreement with Sunshine Minting SMX Extending Metals Business with trueSilver Aiming Both for Fashion Luxury and Bullion Products SMX (NASDAQ:SMX) is pleased to announce...
Rice II (NYSE: RONI) announced in an 8-K today that its shareholders have approved its combination with energy technology company NET Power with relatively low redemptions. In the end, 21,195,224 shares were redeemed in connection vote, removing 61% of Rice II’s trust. This is the second best result among the 32 deals that have come...