Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Singapore Exchange to allow SPAC listings, Lucid shares tumble, and A-Rod’s SPAC backs out of merger with Panini
Singapore Rolls Out SPAC Rules
Singapore Exchange Ltd. has introduced a framework for blank-check companies to list in the city-state, the first Asian financial hub to host the vehicles whose popularity in global financial markets has surged over the past year.
SPACs will be allowed to list in Singapore starting Friday under a more liberal rulebook than initially envisioned by the exchange. The entities require a minimum market capitalization of S$150 million ($112 million), half of the amount SGX proposed earlier, while certain limits on warrants and share redemption have been removed, a statement from the bourse showed Thursday.READ
Lucid Plunges as Key Stockholders Are Freed From Trading Lockup
Luxury electric-vehicle startup Lucid Group Inc. (NASDAQ:LCID) plunged to fresh lows on Wednesday, tumbling as much as 19%, as key investors were allowed to sell shares for the first time since it went public via SPAC in July.
A-Rod’s SPAC Ends Panini Pursuit After NBA, NFL Losses
Alex Rodriguez’s blank-check firm has ended merger talks with Panini SpA after the maker of sports cards, stickers and other collectibles lost exclusive licenses related to the National Basketball Association and National Football League, according to Bloomberg.
Slam Corp. (NASDAQ:SLAM) had been conducting due diligence on a transaction set to value Panini at $3 billion or more, Bloomberg News reported in July. Those talks were ended recently, in part because of the new deals signed between several sports leagues and collectibles retailer Fanatics Inc.READ
Cambium Biomaterials Announces Partnership with Ginkgo Bioworks to Accelerate Industrial Adoption of High-Performance Biomaterials
High-performance biomaterials firm Cambium Biomaterials today announced a partnership with Ginkgo Bioworks, Inc., which is building the leading horizontal platform for cell programming.
Ginkgo, which recently announced a business combination with Soaring Eagle Acquisition Corp. (NASDAQ: SRNG), serves customers across industries seeking to develop new and better products using biology. The partnership will leverage Ginkgo’s Codebase and high-throughput facility to accelerate Cambium’s discovery, development, manufacturing and commercialization of biomaterials that deliver superior performance and sustainability across a range of industries.READ
Priveterra Acquisition Corp. (NASDAQ:PMGM) announced in an 8-K this morning that it plans to adjourn its special meeting to approve its combination with AEON Biopharma from noon today to the same time June 9. The SPAC plans to use this time to further engage with its shareholders as the ballot includes a variety of additional...
Latest Non-Redemption Agreements: EVe Mobility EVe Mobility Acquisition Corp. (EVE) Adds Non-Redemption Agreement On June 5, 2023, EVe Mobility Acquisition Corp. (NYSE:EVE) and the Sponsor entered into non-redemption agreements with unaffiliated third party investors, pursuant to which the Investors have, in connection with the Extension Meeting, agreed not to redeem, or to reverse and revoke any prior...
Latest SPAC Liquidations: ST Energy Transition I, MELI Kaszek Pioneer Corp. ST Energy Transition I Ltd. (STET) to Liquidate on June 7 ST Energy Transition I Ltd. (NYSE:STET) announced today that the Board of Directors has elected to dissolve and liquidate the company. Net of taxes and dissolution expenses, the per-share redemption price for the...
Worldwide Webb Acquisition Corp. (NASDAQ: WWAC) announced this afternoon that it has secured a $5 million PIPE for its proposed merger with consultancy firm Aeries Technology. While most PIPEs are priced at $10 per share, Worldwide Webb’s $5 million subscription agreement was executed at just $4.48 per share in a private placement to be completed concurrently...
Metals Acquisition Corp. (NYSE: MTAL) announced this afternoon that its shareholders have approved its acquisition and business combination with the CSA Copper Mine from Glencore (LON:GLEN) at a special meeting held earlier today. The business combination and merger were overwhelmingly approved as both proposals received 27,538,130 shares in favor of it and just 455,506 shares against it. In...