Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Palihapitiya blames Fed for crushing the blank-check bubble, and Hong Kong is set to regain top-three IPO ranking in 2022
SPAC king Chamath Palihapitiya says the Fed crushed the bubble in blank-check firms
The Fed crushed the bubble in special purpose acquisition companies, Chamath Palihapitiya said, deflecting blame for the poor performance of companies he took public in recent years.
“Nobody forced anybody to invest in anything,” the venture capitalist, who is also known as the “SPAC King,” told the New York Times, adding that Fed rate hikes ended the era of cheap money that allowed so-called blank check companies to thrive.
The comments doubled down on his previous attempts to pin the responsibility on the central bank and its chairman. “The long-term regime in which we operate has changed,” he said at a conference in Manhattan in October. “That is not in the control of one human being except Jerome Powell.”
READHong Kong is set to regain top-three IPO ranking in 2022, says KPMG China
Following a resurgence in IPO activity in the second half of the year, the Hong Kong Stock Exchange is expected to rank third globally in terms of total funds raised in 2022. With a solid pipeline of companies planning to list in the year ahead, the Hong Kong IPO market is expected to continue this momentum into 2023.
Additionally, the Hong Kong SPAC regime has had a steady start, with 14 special purpose acquisition companies submitting IPO applications, of which four have listed.
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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...