Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Scion of billionaire family says SPAC mergers are here to stay, Boxed and AEON launch software and services technology in Malaysia, and BuzzFeed reports 51% growth in revenue
Scion of Billionaire Family Says SPAC Mergers Are Here to Stay
Gaurav Burman, who hails from a billionaire Indian consumer-goods family, says the boom in blank-check company mergers may have eased, but don’t expect SPACs to go away.
“Obviously, there are a lot of SPACs out there looking for deals, and there’ve been some public and visible retreats,” Burman, 49, said in an interview with Bloomberg. But “sponsors that have a lot of credibility” will “be able to separate themselves from the pack.”
Jupiter Acquisition (NASDAQ:JAQCU), a SPAC co-founded by Burman, listed on the Nasdaq last month. While Burman acknowledges that he’s coming late to the party, he says his team is looking to build a long-term business, rather than just achieve a quick share-price pop.
READBoxed and AEON Announce Launch of myAEON2go Software and Services Technology in Malaysia
Boxed , an e-commerce grocery platform selling bulk consumables to households and businesses, and AEON CO, one of the largest retailers in Asia, today announced the launch of its end-to-end software and services platform in the Malaysian market with myAEON2go.
AEON will use Boxed’s proprietary e-commerce technology to power myAEON2go at over 40 locations for both in-store pick-up or on-demand grocery delivery.
Boxed initially announced its business combination with Seven Oaks Acquisition Corp. (Nasdaq: SVOK, SVOKU, SVOKW) on June 14.
READBuzzFeed Inc. Reports Results for Second Quarter and Six Months Ended June 30,2021
BuzzFeed, a leading tech-powered media company for digital content and commerce for millennial and Gen Z audiences, today announced results for the three and six months ended June 30, 2021.
In the second quarter of 2021, BuzzFeed’s revenues grew 51% over the corresponding period last year, driven by accelerating growth in advertising and commerce revenues. Adjusted EBITDA improved by $7.0 million to $5.6 million in Q2, primarily driven by continued growth in overall revenue.
890 5th Avenue (NASDAQ:ENFU) entered into a definitive agreement to combine with BuzzFeed on June 24.
READSEC’s Investor Advisory Committee to Consider Recommendations Regarding SPACs
In addition to Rule 10b5-1 plan recommendations, the SEC’s Investor Advisory Committee is slated to take up draft subcommittee recommendations regarding SPACs in a meeting today. The new SPAC recommendations address SPAC regulatory and investor protection issues that have been under scrutiny as a result of the proliferation of SPACs in 2020 and 2021.
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Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....
1RT Acquisition Corp. (NASDAQ:ONCHU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ONCHU”, Wednesday, July 2, 2025. The new SPAC plans to target company in the digital asset ecosystem involved in the creation, storage, exchange or management of such assets, whether...
D. Boral ARC Acquisition II Corp. (NASDAQ:ARBCU) has filed for a $250 million SPAC to give underwriter D. Boral a second in-house SPAC to pursue deals with. The new SPAC offers investors a 1/2 warrant and an initial 18-month time frame to complete a deal. D. Boral II’s sponsor may automatically extend this once by...
Ribbon (NASDAQ:RIBB) has entered into a definitive agreement to combine with Japanese biotech firm DRC Medicine at a pro forma equity value of $422 million. Tokyo-based DRC Medicine manufactures reusable anti-bacterial and anti-allergen wearables and aims to go deeper into the medical device and pharmaceutical space. Transaction Overview Ribbon is expected to provide $50.4 million...