Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Eni adds six banks for IPO of $11 billion renewables unit, DWAC surges after Truth Social launch, and Gulf Capital considers SPAC with Abu Dhabi listing
Eni Adds Six Banks for IPO of $11 Billion Renewables Unit
Eni SpA has picked six more banks to work on the IPO of its retail and renewables unit Plenitude, which could be valued at about 10 billion euros ($11.3 billion).
The Italian energy giant has hired Barclays Plc, Bank of America Corp., BNP Paribas SA, Deutsche Bank AG, Equita Group SpA and UniCredit SpA as bookrunners for the Milan IPO, which could kick off as soon as May.
Eni SpA announced earlier this month that it is considering listing a SPAC that could target energy-transition businesses.
READTrump-Linked SPAC’s Shares Surge After Truth Social App Tops Apple Downloads
Shares of Digital World Acquisition Corp (NASDAQ:DWAC), the blank-check company behind former U.S. President Donald Trump’s new social media venture, Truth Social, surged nearly 30% in premarket trading on Tuesday as the app climbed the charts after its debut on Apple’s App Store.
Digital World’s shares jumped 26% to $106.44 and were on track to open at levels last seen in October, days after Digital World announced a deal to publicly list Trump Media & Technology Group (TMTG), the venture behind Truth Social.
READGulf Capital Considering SPAC With Abu Dhabi Listing
Abu Dhabi asset manager Gulf Capital is considering setting up a SPAC that will list on the Abu Dhabi Securities Exchange.
Gulf Capital, which manages about $2.5 billion in assets, is working with boutique advisory Moelis & Co on the potential transaction.
READDonald Trump’s New Social Media App Shows Errors on Launch Day
Donald Trump’s new social media network, Truth Social, got off to a rocky start on its launch day, with some users being unable to register and others receiving error messages.
Trump Media & Technology Group, which aims to take on big tech companies with offerings from social media to streaming, launched Truth Social to give the former U.S. President a platform after he was banned from Twitter and Facebook.
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Silver Pegasus Acquisition Corp. (NASDAQ:SPEGU) has filed for a $150 million SPAC with Roth Capital Partners underwriting the offering. The new SPAC is laser-focused on finding a semiconductor or “systems solutions” target, which is an intriguing space given that the sector has been in the crosshairs of trade restrictions by nearly all countries involved. That...
At the SPAC of Dawn Space de-SPACs have been among the big winners from the market’s initial parsing of the Trump administration 2.0’s policy priorities, with Rocket Lab (NASDAQ:RKLB) gaining +30%, Redwire (NYSE:RDW) +51% and Intuitive Machines (NASDAQ:LUNR) +23.9%. Redwire got the double boost of Trump’s bullish words on space and also the announcement that...
Iron Horse Acquisitions Corp. II has filed for a $250 million SPAC with D. Boral Capital underwriting under its new name. D. Boral emerged in November from a messy dispute at the top of investment bank EF Hutton that was concluded with Joseph Rallo taking the EF Hutton trademark and departing the firm while David...
At the SPAC of Dawn This shortened trading week could be a rocky one as the market takes in the first wave of initiatives out of the new US administration and will have what are technically the first Trump 2.0 jobs numbers released on Thursday. It should be somewhat quieter for SPACs working through their...
Terms Tracker for the Week Ending January 17, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We may be heading into a Polar Vortex, but SPACs managed to generate some heat this week with three more IPOs. For those keeping count,...