Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Singapore’s Carousell Group cuts 10% of total headcount, and Graphjet Technology becomes first Malaysian company to join World Economic Forum
Singapore’s Carousell Group cuts 10% of total headcount, Co-Founder says ‘deeply sorry’
Singapore-headquartered recommerce group Carousell announced the group is cutting 110 roles or about 10 percent of the company’s total headcount.
“Together with my co-founders and group leadership, we decided to reduce the size of our team by about 110 roles, representing 10 percent of our group’s total headcount. Only teammates from some business units are affected,” its Co-Founder and Chief Executive Officer Quek Siu Rui said in a post on its website last Thursday (Dec 1). ” Only teammates from some business units are affected.”
Earlier in May this year, Bloomberg reported Carousell has ended talks to go public through a merger with blank-check company L Catterton Asia Acquisition Corp (NASDAQ:LCAA) amid market volatility.
READGraphjet Technology Becomes First Malaysian Company to Join the World Economic Forum
Graphjet Technology Sdn. Bhd., the world’s first and only graphene and graphite producer using innovative waste to super-material conversion technology, today announced that it has joined and partnered with the World Economic Forum (WEF). The WEF is an international non-governmental and lobbying organization based in Switzerland. Graphjet is the first Malaysian company to join the WEF.
Privately held Graphjet has also previously announced a projected $1.5 billion business combination with Energem Corp (Nasdaq: ENCP), a special purpose acquisition company, by which Graphjet will become a United States based holding corporation listed on Nasdaq.
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At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...