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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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...