Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Singapore sees more US-listed Chinese firms coming to its shores, Packable begins liquidating and announces job cuts, and Gel Blaster to use Nogin’s SmartShip program
Singapore Sees More US-Listed Chinese Firms Coming to Its Shores
Singapore Exchange Ltd. sees more listings in coming months by Chinese issuers that already trade American depository receipts, even as it grapples with delayed deals amid a global valuation slump.
Following Nio Inc.’s technical listing in May, investors can expect others will follow suit, Chief Executive Officer Loh Boon Chye said in an interview. If market conditions are supportive for the rest of the exchange’s fiscal year through June, “there would be fund-raising, but if they are not as conducive, it will be a technical secondary listing,” he added.
Potential SPACs are waiting to see mergers conducted by the first wave of blank-check companies in Singapore to see how the process unfolds, Loh said.
READTop Amazon seller Packable begins liquidating and announces job cuts after failed SPAC attempt
About a year ago, online retailer Packable was preparing to go public through a special purpose acquisition company. With the SPAC market having evaporated and the economy now sputtering, Packable is laying off staff and preparing to liquidate, according to internal documents reviewed by CNBC.
Packable is the parent company of Pharmapacks, an online seller of health, personal care and beauty products. Pharmapacks was founded in 2010 as a single brick-and-mortar pharmacy in the Bronx, New York, before it turned to the internet and established a big home on Amazon.
Highland Transcend Partners I Corp. (NYSE:HTPA) mutually terminated its combination with ecommerce service provider Packable on March 25, 2022.
READGel Blaster to Use Nogin’s SmartShip Program
Gel Blaster, the exclusive provider of advanced backyard battle blasters with clean-up technology, has upgraded its online store fulfillment with the SmartShip program delivered by Nogin (NASDAQ:NOGN), a leading provider of innovative Commerce-as-a-Service (“CaaS”) technology.
Software Acquisition Group III recently announced that its shareholders approved its combination with software firm Nogin at a special meeting held on August 22.
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Terms Tracker for the Week Ending February 3, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. The month of February started with an IPO, thanks to the pricing of Cetus Capital Acquisition Corp (Nasdaq: CETU) which began trading on February 1....
Forest Road II (NYSE:FRXB) and 10X Capital Venture III (NYSE:VCXB) both announced this afternoon that they have mutually terminated their business combinations. Forest Road II intended to combine with transportation technology developer HyperloopTT, but the parties decided to nix the deal due to timing constraints along with unfavorable market conditions. Tom Staggs and Kevin Mayer, Co-CEOs and...
Intelligent Medicine Acquisition Corp. (NASDAQ:IQMD) and AMCI Acquisition Corp. II (Nasdaq: AMCI) announced this afternoon that they have adjourned their special meetings with shareholders. Intelligent Medicine originally scheduled its meeting to be held today, but is now postponing its vote until Wednesday, February 8. Stockholders may elect to redeem their shares by no later than...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Comcast dumps 18.5% of its BuzzFeed stock Comcast Dumps 6 Million Shares of Buzzfeed After Media Company Finally Gets a Bump Comcast dumped 18.5% of its BuzzFeed (NASDAQ:BZFD) stock in recent days, reducing its...
Viveon Health (NYSE:VHAQ) announced this morning that it is unilaterally terminating its combination with Suneva Medical “based upon material breaches” of the merger agreement. The SPAC did not elaborate further on its claims against Suneva, but noted it will continue on and seek a new business combination. Just last week, Viveon Health was working to...