Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: SeatGeek files to go public, Elenium eyes $185M deal with Integral 1, and Hong Kong SPAC pioneer calls for looser rules to revive market
SeatGeek Reportedly Files to Go Public After Failed SPAC Merger
Ticketing company SeatGeek filed confidentially with regulators earlier this month to go public, according to a new report from The Information.
SeatGeek’s planned IPO follows its previous attempt to go public via a SPAC merger with RedBall Acquisition Corp. Still, both parties agreed to terminate the deal last June due to market conditions. That merger would have valued SeatGeek at $1.35 billion and included investments from Kevin Durant’s Thirty Five Ventures and Utah Jazz owner Ryan Smith.
READYoung Rich Lister’s biometric start-up Elenium eyes $185M SPAC deal
Elenium Automation is plotting a Nasdaq listing with help from a home-grown special purpose acquisition company in a deal that the Melbourne digital identification start-up hopes will boost its valuation by 54 percent to $185 million.
Elenium – which has developed software and hardware to check identities using face and palm biometrics deployed at 25 airports round the world – did not have to look far from home to find its blank-cheque backer in Integral Acquisition Corporation 1.
READHong Kong SPAC Pioneer Calls for Looser Rules to Revive Market
One of the pioneers of blank-check companies in Hong Kong is urging local regulators to relax rules in order for more listings to happen, acquisitions to materialize and liquidity to improve.
Jason Wong, one of the first financiers of special purpose acquisition companies in the Asian financial hub, said Hong Kong should align its SPAC rulebook to that in the more lightly regulated US market, so as to attract stronger foreign demand. Changes needed include allowing retail investors to access SPAC offerings, boosting the proportion of embedded warrants and providing more clarity about who qualifies as a promoter.
READFrost and Sullivan Projects US$6.50 SMX Shares Path for Potential Domination by SMX With Patented Plastic Recycle Solution Special for Earth Day Focus
SMX (Security Matters) (NASDAQ: SMX) is pleased to announce for Earth Day (22 April), the world’s largest environmental movement day, its part in the global sustainability effort by enabling companies and industries to comply with plastic regulations as they endeavor to meet their business goals and make plastic green.
Lionheart III (NASDAQ:LION) closed its deal with Security Matters (ASX:SMX) in March.
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Terms Tracker for the Week Ending October 25, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Finally, a little more SPAC action this week with no less than four IPOs priced. That brings October’s tally to seven IPOs with one more...
At the SPAC of Dawn The rebound of the growth companies that made up the SPAC class of 2021 has been one of the bigger stories of second half of 2024, but not all of the de-SPACs are feeling the love equally. Instead, in many new sectors that hit the public markets together as a...
DT Cloud (NASDAQ:DYCQ) has entered into a definitive agreement to combine with Maius Pharmaceutical at an equity value of $250 million. Shanghai-based Maius is a drug developer and researcher focused on small-molecule chemical treatments for different forms of cancer. The combined company is expected to trade on the Nasdaq once the deal is completed in...
Charlton Aria Acquisition Corporation announced the pricing of its $75 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CHARU”, Thursday, October 24, 2024. The new SPAC plans to focus on industries that complement the management team’s and board of director’s background and network. The sponsor team for...
At the SPAC of Dawn As the market goes through a cooling period this week, new readouts for jobless claims and new home sales are set to hit later today. Jobless claims are of course something of a proxy indicator for SPACs as to when the Fed might continue to its rate-cutting process, while home...