Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Byju in talks to go public via SPAC, Vistas Media announces joint venture between Anghami and Sony Music Entertainment Middle East, and Canoo revs up U.S. EV production plan
India’s Startup Byju’s in Talks to Go Public Via SPAC Deal
The online education provider Byju’s, India’s most valuable startup, is in advanced discussions to go public through a merger with one of Churchill Capital’s SPACs.
The startup held talks with several potential SPAC partners and is farthest along in working out an agreement with Michael Klein’s Churchill Capital. Churchill Capital VII (NYSE:CVII) raised more than $1.3 billion in an offering in February.
Under the preliminary terms discussed, Byju’s would raise a total of about $4 billion and seek a valuation of about $48 billion. The startup was valued at $21 billion, according to market research firm CB Insights.
READVistas Media Acquisition Company Inc. and Anghami Announce Joint Venture Between Sony Music Entertainment Middle East and Anghami For New Record Label ‘Vibe Music Arabia’
Anghami Inc., the leading music streaming platform and service in the Middle East and North Africa, and Vistas Media Acquisition Company Inc. (NASDAQ:VMAC) a publicly traded SPAC led by CEO F. Jacob Cherian and co-founders Saurabh Gupta and Abhayanand Singh, announced the launch of a new joint venture record label, “Vibe Music Arabia”, between Sony Music Entertainment Middle East and Anghami.
On March 3, 2021, Vistas Media Acquisition Company Inc. entered into a definitive merger agreement to combine with Anghami.
READCanoo Revs Up U.S. Electric Vehicle Production Plan As it Drops Overseas Deal
Electric vehicle startup Canoo Inc. (NASDAQ:GOEV) on Wednesday said it was accelerating its production plans in the United States while ending its deal for VDL Nedcar in Netherlands to serve as its contract manufacturer in Europe.
Canoo shares were up 3% in after hours trading.
Hennessy Capital Acquisition Corp. IV completed its combination with Canoo on December 21, 2020.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC Liquidations: Broadscale, Revolution Healthcare, Research Alliance II, and Kairos Broadscale Acquisition Corp. to Liquidate On December 6, 2022, stockholders of Broadscale Acquisition Corp. (NASDAQ:SCLE) approved amendments to change the termination date from February 17,...
Roth CH Acquisition IV Co. (NASDAQ:ROCG) has entered into a definitive agreement to combine with renewable energy equipment-maker Tigo for pre-money equity consideration of $600 million. Campbell, California-based Tigo manufacturers components that optimize and enhance safety for solar panel arrays, with installations on seven continents The combined company is expected to trade on the Nasdaq...
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SportsMap Tech Acquisition Corp. (NASDAQ:SMAP) has entered into a definitive agreement to combine with intelligent thermal imaging provider Infrared Cameras Holdings (ICI) at a pre-money equity valuation of $100 million. Beaumont, Texas-based Infrared Cameras Holdings develops and manufactures infrared-sensor systems, offering handheld and fixed hardware. The combined company is expected to trade on the Nasdaq once the...
Ares Acquisition Corporation (NYSE:AAC) has entered into a definitive agreement to combine with nuclear power company X-energy at an enterprise value of $2.2 billion. Rockville, Maryland-based X-energy has developed small modular nuclear reactor technology designed to provide nuclear plants for projects ranging from individual industrial sites to regional utilities. The combined company is expected to...