Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Billtrust surges on go-private deal, and Robinhood trader ‘deceived’ by Nikola founder snubs SEC filings
FinTech IPO Index Flat as Billtrust Surges on Go-Private Deal
Tech stocks have had a reckoning in the past several days — a rally proved short lived, a blip.
But the FinTech IPO Index managed to see at least some gains through the past five sessions. Slight gains, to be sure — the group was up less than 1%.
Billtrust (NASDAQ:BTRS) saw a rally of about 49% through the week. Billtrust has been sold to the investment organization EQT in an all-cash transaction that values Billtrust’s equity at approximately $1.7 billion. The go-private deal comes after the company went public last year through a combination with South Mountain.
READ‘I Always Listen to the CEOs’: Nikola Investor Snubbed Filings, Jury Told
An investor who bought into the heady promises of Nikola Corp. (NASDAQ:NKLA) founder Trevor Milton in 2020 told the jury in Milton’s criminal fraud trial that he shunned the electric truck maker’s regulatory filings as long and unilluminating.
“I always listen to the CEOs of companies,” Marc Schonberger, a self-described “midlevel investor” from Fort Lauderdale, Florida, testified on Thursday about Milton, who was Nikola’s executive chairman at the time. “They have a fiduciary responsibility to tell you kind of what’s going on and be truthful and honest, so I relied on that.”
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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...