Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Pagaya Technologies weighs takeover of Sunlight Financial, Lanvin Group sales rise 37% to €422 million, and Mexico’s Covalto delays Nasdaq listing to 2024
Pagaya Technologies Weighs Takeover of Sunlight Financial
Pagaya Technologies Ltd. (NASDAQ:PGY) is exploring an acquisition of Sunlight Financial Holdings Inc.(NYSE:SUNL), which helps homeowners finance rooftop solar panels, people with knowledge of the matter said.
The Tel Aviv-based financial technology company has expressed interest in Sunlight, according to the people, who asked not to be identified discussing confidential information.
Shares of Sunlight soared as much as 122%. They were up 81% to 59 cents each at 1:33 p.m. in New York trading Thursday, giving the company a market value of $79 million. Pagaya’s shares were up 4.2% to 95 cents, giving it a market value of $672 million.
Both Pagaya, whose technology is used to originate consumer loans, and Sunlight went public via mergers with blank-check companies.
READPost-SPAC, Lanvin Group sales rise 37% to €422 million
Lanvin Group (NYSE:LANV) said revenues rose 37 percent to €422 million in 2022 and the company is pushing ahead with its plans to break even in 2024. It follows the group’s debut on the New York Stock Exchange in December through a SPAC deal with Primavera Capital Acquisition Corporation, when it was valued at $1.3 billion.
Flagship brand Lanvin was the biggest sales driver in 2022, reporting a 64 percent year-on-year increase to €120 million. Revenues at the luxury Italian footwear brand Sergio Rossi, which the group acquired in July 2021, increased 116 percent to €62 million. All other brands in the portfolio saw double-digit sales growth. Revenues at Italian menswear tailoring brand Caruso grew 25 percent to €31 million; American luxury knitwear brand St John reached €86 million, up 17 percent; and Wolford, known for its tights, bodysuits and underwear, saw revenues reach €125 million, up 15 percent from the previous year.
Mexico’s Covalto quietly delays Nasdaq listing to 2024
Mexican digital and banking services platform Covalto has pushed back its much-anticipated plans to list on the Nasdaq exchange through a SPAC to 2024, according to a filing to the U.S. Securities and Exchange Commission
The company had initially sought to go public in the first quarter, seeking to be the first Mexican fintech to trade publicly on a U.S. stock bourse. However, dampened markets have seen few listings and a near-hiatus of SPACs globally so far this year.
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NMP Acquisition Corp. (NASDAQ:NMPAU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “NMPAU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company that has a resilient business model with potential to scale up revenue. NMP’s management...
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...