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.”
READ
Considerations for Creating Shareholder Value in a Volatile Market Join us for a virtual panel on December 14, 2022 The current trends of rising interest rates and inflationary cost increases, among other things, have imposed downward pressures on publicly traded equity prices, especially for businesses that became publicly traded via a de-SPAC merger. Please...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Virgin Galactic appoints new top lawyer, Trump Media SPAC rises after investors approve merger deadline extension, and Al Maadeed to be first Qatari to list company on NYSE Virgin Galactic, Preparing for Liftoff,...
PMV Consumer (OTC PINK:PMVC) announced that it is redeeming all non-insider public shares for approximately $10.09 per share, but it will not be dissolving just yet. The SPAC is set to provide written redemption notices to each shareholder and trust proceeds are to be distributed within 30 days of these notices. PMV Consumer will then...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Ex-Marvel chief takes the wheel at Arrival, Paysafe plans reverse stock split, and Dave Inc. to pursue a bank charter Founder of troubled electric van maker Arrival steps aside as CEO The founder...
Digital World (NASDAQ:DWAC) announced late Wednesday that its shareholders have approved amending its charter to allow for automatic three-month extensions of its transaction deadline until September 8, 2023. This brings to close a long drama during which Digital World adjourned the vote without concluding business six times at different meetings in September, October and November....