Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Pershing seeks $1 billion to fund its bet on Universal Music Group, SPACs target emerging markets, and Boxed announces $45 million secured credit facility
Pershing Said to Seek $1 Billion to Fund Universal Music Bet
Bill Ackman’s hedge fund Pershing Square Capital Management LP is in discussions to raise $1 billion to help fund its bet on Vivendi SE’s Universal Music Group, according to Bloomberg.
The firm is set to raise the capital, which would supplement $3 billion of its own capital, via a sidecar vehicle. It would represent Pershing’s seventh co-investment vehicle, and facilitate the purchase of a 10% stake in UMG.
READBoxed Announces $45 Million Secured Credit Facility Provided by Funds and Accounts Managed by BlackRock
E-commerce grocery platform Boxed announced today that it has entered into a new $45 million secured credit facility provided by funds and accounts managed by BlackRock. The new credit facility will mature on August 4, 2025, and is secured by all of the assets of Boxed and its subsidiaries.
Seven Oaks (NASDAQ:SVOK) entered into a definitive agreement to combine with ecommerce seller Boxed, at an enterprise value of $640 million, on June 14.
READ
Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...
At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...
Solarius Capital Acquisition Corp. (NASDAQ:SOCAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SOCAU”, Wednesday, July 16, 2025. The new SPAC plans to combine with a target in the asset management, wealth management or financial services industries. Solarius Capital’s management team...
Exciting new things are coming for SPACInsider subscribers, and some have already arrived! This summer, SPACInsider is unveiling the SPACInsider Alerts App on iOS with an Android launch soon to follow. The app allows subscribers to stay ahead of the SPAC market with real-time, customizable filing alerts with instant notifications landing the moment that a...
At the SPAC of Dawn Futures are largely green with the CPI reading coming up, and several SPACs and de-SPACs have cause to feel bullish regardless of what the reading states. Pharma and beauty company Longevity Health (NASDAQ:XAGE) announced it will acquire plasma collection firm True Health ahead of market open in news that has...