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The Latest SPAC News and Rumors: February 7, 2022
by Marlena Haddad on 2022-02-07 at 11:38am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News:  Elizabeth Warren criticizes BC Partners’ plan to take PetSmart public and U.S. Air Force awards $19.3M contract to Tomorrow.io

Warren Admonishes BC Partners as It Weighs PetSmart SPAC Deal

Senator Elizabeth Warren criticized a reported plan to take BC Partners’ PetSmart public through a blank-check company, saying the deal heightens previous concerns about the retailer and the process.

BC Partners is mulling taking the pet supply retailer public through a SPAC backed by private-equity firm KKR & Co. in a deal valued at $14 billion including debt, Bloomberg reported last month.

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U.S. Air Force Awards $19.3 Million Contract to Tommorrow.io for Spaceborne Weather Data

Tomorrow.io, developer of a leading platform for global weather and climate security, has been awarded a $19.3 million contract from the U.S. Air Force (USAF) to develop a constellation of weather satellites that will provide the USAF with three-dimensional global weather and ocean data.

Tomorrow.io previously announced plans to list on Nasdaq through a merger with Pine Technology Acquisition Corp.  (Nasdaq: PTOC). Upon closing, Tomorrow.io’s common stock and warrants are expected to trade on Nasdaq under the new ticker symbols “TMW” and “TMWW”.

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Recent Posts
by Marlena Haddad on 2022-12-08 at 5:35pm

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC Liquidations: Sierra Lake, Z-Work, Lerer Hippeau, and Climate Real Impact Solutions II Sierra Lake Acquisition Corp. Shareholders Approve Liquidation   Sierra Lake Acquisition Corp. (NASDAQ: SIER) announced today that due to its inability to...

by Nicholas Alan Clayton on 2022-12-08 at 2:28pm

Parsec Capital (NASDAQ:PCX) announced in an 8-K this morning that it has begun the process of liquidating its trust account, but the filing also curiously notes that the team is trying to carry on with its announced combination with Enteractive Media. The announcement matches what the SPAC said in its 10-Q filed November 18, that...

by Marlena Haddad on 2022-12-08 at 12:56am

  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...

by Marlena Haddad on 2022-12-08 at 12:50am

PHP Ventures Acquisition Corp. (NASDAQ: PPHP) has entered into a definitive agreement to combine with ConstrucTech company Modulex Modular Buildings Plc (“Modulex”) at a valuation of $600 million. UK-based Modulex manufactures 3D volumetric steel modular buildings and harnesses emerging technologies to meet housing and infrastructure needs. The combined company is expected to trade on the...

by Nicholas Alan Clayton on 2022-12-08 at 11:53am

7GC & Co.  (NASDAQ:VII) has entered into a definitive agreement to combine with video engagement platform Banzai at an enterprise value of $380 million, or 17.3x its revenue in the 12 months ending in September 2022. Bainbridge Island, Washington-based Banzai provides a suite of virtual event management and analytical tools through a software-as-a-surface (SaaS) model....

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