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.READ
Young 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.READ
Hong 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.READ
Frost 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.READ
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: SMX to create new subsidiary, trueSilver, and enters into exclusive agreement with Sunshine Minting SMX Extending Metals Business with trueSilver Aiming Both for Fashion Luxury and Bullion Products SMX (NASDAQ:SMX) is pleased to announce...
Rice II (NYSE: RONI) announced in an 8-K today that its shareholders have approved its combination with energy technology company NET Power with relatively low redemptions. In the end, 21,195,224 shares were redeemed in connection vote, removing 61% of Rice II’s trust. This is the second best result among the 32 deals that have come...
Trajectory Alpha (NYSE:TCOA) announced in an 8-K this morning that it has opted to postpone its June 8 extension vote to June 12 at 10 am ET. The SPAC will use this extra time to engage with shareholders at work to reverse redemption decisions. Trajectory Alpha’s team may still be getting acquainted with some major...
Tracking SPACs and all of their various types of “corporate actions” can be challenging. After all, a SPAC can postpone, adjourn, extend, complete, liquidate early, do a tender offer, and in some cases, one SPAC do all of those actions within its lifespan. Naturally, this can be challenging to manage. More importantly, it can very...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Byju skips payment on dollar loan and HNR affirms intent to purchase equity interests of Pogo Resources High-Flying Indian Startup Byju’s Skips Payment on Dollar Loan One of India’s best-known startups has skipped payment...