Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Hong Kong’s OneDegree approached by SPAC, ADQ and Chimera Capital set up Abu Dhabi’s first blank-check company, and Infinite Reality buys ReKTGlobal
Hong Kong’s OneDegree Says It’s Been Approached on SPAC Listing
OneDegree, a Hong Kong-based insurer of digital assets, has been approached by investment banks about going public through a blank-check company, its co-founder said.
The firm, one of four with a so-called virtual insurer license in Hong Kong, expects to carry out a funding round in coming months to finance expansion, Alvin Kwock said in an interview without giving specifics. He said no decision has been made on whether to merge with a SPAC. OneDegree raised $28 million in August.
READADQ and Chimera Capital Set Up Abu Dhabi’s First SPAC
Abu Dhabi state holding firm ADQ and investment firm Chimera Capital have set up a blank-check company that will raise 367 million dirhams ($99.93 million) and list in the capital, according to a statement on Tuesday.
The United Arab Emirates’ Securities and Commodities Authority in January approved a regulatory framework for blank-check firms.
READInfinite Reality to Buy ReKTGlobal, Aims to Raise $150 Million
Infinite Reality Inc., which has inked a deal to go public through a merger with Universal Security Instruments Inc. (NYSE:UUU), has agreed to acquire ReKTGlobal, an esports startup that abandoned a prior plan to combine with Bull Horn Holdings Corp. (NASDAQ:BHSE).
Infinite Reality, formed through the merger of Display Social and production company Thunder Studios, is valued at $2 billion, Chief Executive Officer John Acunto said in an interview. It plans to expand ReKTGlobal’s brands including League of Legends’ Rogue and Call of Duty League’s London Royal Ravens into the metaverse, potentially through the creation of esports stadiums and skyboxes, Acunto said.
READBlank-Check Firm Backed By Bain Capital Affiliate Scraps U.S. IPO Plans
A blank-check vehicle backed by venture capital firm Bain Capital’s affiliate has withdrawn plans for a U.S. initial public offering, according to a regulatory filing on Tuesday, joining a slew of companies that have canceled listings this year.
The withdrawal from Bain Capital Credit’s BCC Investment Corp comes amid volatility in the U.S. markets due to heightened geopolitical tensions and rate hike concerns.
READ


Terms Tracker for the Week Ending July 3, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re heading into the July 4th holiday, so we’ll keep this week’s column short and to the point. But before you head to the beach,...
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....