Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Chamath Palihapitiya says higher rates have created ‘wave of destruction’ and DigiAsia Bios looks to expand abroad post SPAC merger
SPAC king Chamath Palihapitiya says higher rates have created ‘wave of destruction’ across whole sectors
Higher interest rates are sowing chaos across businesses and whole sectors of the market, according to “SPAC king” Chamath Palihapitiya.
In an annual letter to investors on Tuesday, the Social Capital CEO leveled more criticism at the Federal Reserve over its aggressive rate hikes over the past year. The policy move has weighed heavily on risk assets, and helped burst the bubble in so-called blank-check firms that Palihapitiya rode during the pandemic boom of 2020 and 2021.
READIndonesia-focused DigiAsia Bios looking to set foot abroad post SPAC merger
Indonesian B2B fintech startup DigiAsia Bios is gearing up to expand to other Southeast Asian countries with similar demographics and regulations, including Vietnam, Cambodia, and the Philippines, after its combination with a SPAC and Nasdaq listing this year, a senior executive said.
The company plans to complete the business combination with StoneBridge (NASDAQ:APAC) this April and raise around $200M.
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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....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...