Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: De-SPACs log billions of dollars in goodwill write-downs
Companies That Went Public via SPACs Log Billions of Dollars in Goodwill Write-Downs
Companies that went public through mergers with SPACs in recent years booked billions of dollars in goodwill write-downs in 2022, reflecting in part a reckoning of the heady premiums paid to secure deals during the SPAC boom.
Some of the biggest goodwill impairments in 2022 came from SPAC-backed companies like cryptocurrency platform Bakkt Holdings Inc. (NYSE: BKKT), business-services provider Advantage Solutions Inc. (NASDAQ: ADV), 3-D printing firm Fathom Digital Manufacturing Corp.(NYSE: FATH), self-driving vehicle startup Aurora Innovation Inc. (NASDAQ: AUR) and now-bankrupt bitcoin miner Core Scientific Inc. (OTCMKTS: CORZQ), according to financial and risk advisory firm Kroll LLC. Each of these five companies’ pretax impairments exceeded $1 billion last year.
Cohen Circle Acquisition Corp. II (NASDAQ:CCIIU) announced the pricing of its $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CCIIU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company in the financial services technology (fintech) sector and fintech adjacent sectors that...
Indigo Acquisition Corp. (NASDAQ:INACU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “INACU”, Tuesday, July 1, 2025. The new SPAC plans to combine with an established, profitable company whose growth potential can benefit from its team’s expertise. Indigo’s management team is...
After a quiet June, July is set to be active throughout the month with nine de-SPACs and sponsors coming unlocked from their trading restrictions. This timing is most fortuitous for insurance investor Abacus Life (NASDAQ:ABL) and East Resources, which took it public in 2023, as it is the best performer of this group of companies...
Pyrophyte II (NYSE:PAII.U) has filed for a $175 million SPAC to dig for a natural resources target while the team’s first deal remains pending. The new SPAC is offering investors 1/2 warrants in each unit and it will have 24 months to complete a business combination without asking shareholders for an extension. It is the...
At the SPAC of Dawn The last day of the quarter is to play host to a pair of shareholder votes and a possible pricing of Indigo‘s (NASDAQ:INACU) $100 million IPO. This week is also to play host to fresh jobs numbers just before the long July 4 weekend. Black Hawk (NASDAQ:BKHA) was also one...