Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Apollo is raising $500 million for SPACs, Cathie Wood amasses 11% stake in $17.5 billion Harry Sloan SPAC, and four SPACs backed by ShiftPixy slash IPO sizes
Apollo Seeks $500 Million Fund to Invest in SPACs
Cathie Wood Stake in $17.5 Billion Harry Sloan SPAC Hits 11%
Cathie Wood’s ARK Investment Management LLC now has a nearly 11% stake in a SPAC backed by former Hollywood executive Harry Sloan, Bloomberg reported.
Ark’s daily trading statement shows it added another 1.2 million shares of Soaring Eagle Acquisition Corp. (NASDAQ:SRNG) on Tuesday. That takes the firm’s total holdings to nearly 18.5 million shares across the flagship ARK Innovation ETF (NYSE:ARKK) and the ARK Genomic Revolution ETF (BATS:ARKG), according to data compiled by Bloomberg.
READFour SPACs Backed By ShiftPixy Slash U.S. IPO Sizes
Four blank-check companies backed by staffing services company ShiftPixy Inc cut the size of their IPOs on Wednesday.
Of the four SPACs, Firemark Global Capital Inc had targeted the biggest raise of $500 million, when it first submitted its paperwork in April. The company said it is now looking to raise up to $150 million.
The other firms — TechStackery Inc, Vital Human Capital Inc and Industrial Human Capital Inc — are now aiming to raise $150 million each, compared with a target of $250 million each earlier, according to regulatory filings.
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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...
Avalon Acquisition Inc. (NASDAQ:AVAC) announced in an 8-K this morning that it has entered into a prepaid forward purchase agreement with RiverNorth SPAC Arbitrage Fund, the purchaser, as it works to close its combination with financial services firm The Beneficient Company, or Ben. As part of the agreement, RiverNorth agreed to effect certain purchases of shares...
Blue Ocean (NASDAQ:BOCN) has entered into a definitive agreement to combine with digital media company TNL Mediagene at a pre-money enterprise value of $275 million. TNL Mediagene holds the Japanese licenses for a number digital media properties as well as Taipei-based The News Lens. The combined company Is expected to trade on the Nasdaq once...
Priveterra Acquisition Corp. (NASDAQ:PMGM) announced in an 8-K this morning that it plans to adjourn its special meeting to approve its combination with AEON Biopharma from noon today to the same time June 9. The SPAC plans to use this time to further engage with its shareholders as the ballot includes a variety of additional...