Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Harley-Davidson surges following 4Q21 profit, first African cannabis SPAC planned by Cybin founder, and DWAC plunges following delayed app launch
Harley-Davidson Surges After Posting Surprise Fourth Quarter Profit
Harley-Davidson Inc. (NYSE:HOG) reported a surprise profit in the fourth quarter as strong demand in its home market and higher motorcycle prices padded earnings and shipping delays eased. The shares rose in early trading.
Adjusted profit of 15 cents a share marked a sharp turnaround from a loss in the same period last year and far outpaced Wall Street’s expectation of a 32-cent loss, the average of estimates compiled by Bloomberg. Revenue from motorcycles and related products rose to $816 million, the Milwaukee-based company said in a statement Tuesday.
In mid December, AEA-Bridges Impact Corp. (NYSE:IMPX) entered into a definitive agreement to combine with Harley-Davidson’s electric motorcycle division LiveWire at an enterprise value of $1.77 billion.READ
First African Cannabis SPAC Planned By Cybin Founder Theron
Africa’s first cannabis-focused blank-check company is set to list later this year with a view to buying companies in the fledgling industry alongside genetics and wearable health-device companies in the U.S. and South Africa.
Gabriel Theron, the founder of South Africa’s Cilo Cybin Pharmaceutical Ltd., aims to sell shares in a SPAC in Johannesburg in May and raise a minimum of 500 million rand ($32 million). The entrepreneur will then use the vehicle to buy Cilo Cybin, which he values at as much as 300 million rand, followed by non-cannabis health companies in South Africa and the U.S.READ
Trump SPAC Stock Digital World Acquisition Corp. Plunges After News Spreads of Delayed App Launch
The stock price of the blank-check company that has partnered with ex-President Donald Trump’s social media firm plunged Monday in late-day trading as news of the delay in the app’s launch spread on Twitter.
The company, Digital World Acquisition Corp. (NASDAQ:DWAC), opened trading Monday at $87.02 per share, and spiked to as high as $97.15 earlier Monday. But the stock price began plunging around 3:30 p.m. ET, and fell to as low as $80.45 per share.
DWAC closed the trading day at $83.88 per share.READ
Tomorrow.io Announces Strong Growth in Sales and Client Count in 2021
Tomorrow.io, the developer of the leading platform for global weather and climate security, today announced a more than 150% increase in sales to $19 million in 2021 from $7.4 million in 2020 as its client roster expanded more than 80% across enterprise, government and B2C businesses. These and other 2021 performance and technology milestones underpin the company’s previously disclosed projections for continued extraordinary growth.
In December, Tomorrow.io announced plans to list on Nasdaq through a merger with Pine Technology Acquisition Corp. (Nasdaq: PTOC).READ
Dubai’s SHUAA Capital Files With SEC For Potential SPAC Listing in NY
Dubai-listed investment bank SHUAA Capital said on Tuesday it has filed a registration statement with the U.S. Securities and Exchange Commission for the launch of a $100 million to $200 million blank-check company that will be listed on the Nasdaq.READ
Carousell in Talks to Buy Property Marketplace 99.co Ahead of SPAC Deal
Online classifieds company Carousell is in talks to acquire Singapore-based property marketplace operator 99 Group ahead of a potential public listing in the US this year.
The acquisition is likely to give a boost to Carousell’s monetization strategy as it doubles down on high-value transactions and shapes up for the public market.
Carousell is in talks for a merger with blank-check company L Catterton Asia Acquisition Corp. (NASDAQ:LCAA) to list itself in the US, potentially valuing the joint entity at US$1.5 billion.READ
WOOD & Co to Launch CEE’s First Blank-Check Firm on Prague Bourse
Czech investment banking group WOOD & Company plans to raise up to 1 billion crowns ($47.21 million) in what would be central Europe’s first SPAC, Wood said on Tuesday.
It said it had received regulatory approval for the issue prospect and subscription for WOOD SPAC One would run from Feb. 10 to April 1. The listing on the Prague Stock Exchange would be on April 11.READ
Latest SPAC Liquidations: JAWS Hurricane JAWS Hurricane Acquisition Corporation (HCNE) to Liquidate on June 16 JAWS Hurricane Acquisition Corporation (Nasdaq: HCNE) today announced that its board of directors has determined not to proceed with a proposal to extend its corporate existence. As such, the Board has determined to cancel the special meeting of its stockholders,...
Jupiter Wellness Acquisition Corp. (NASDAQ:JWAC) announced this afternoon that it has completed its combination with Chinese carmaker Chijet. The deal was already approved by shareholders at a special meeting held on May 2, but at that time, the SPAC did not provide a timeline for the closing of the transaction. Although redemption numbers have still not...
The advent of summer is bringing nine lock-up expirations for de-SPAC’d companies and 10 on the sponsor side. The first change is to come for the sponsor of European Biotech Acquisition Corp., which closed its combination with Swiss pharma firm Oculis SA (NASDAQ:OCS) just three months ago. The sponsor is getting flexibility at a good...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Lucid to raise $3B in a common stock offering from Saudi owners, Betsy Cohen says SPACs will make a comeback, and SatixFy makes another leadership change Lucid Raising $3 Billion With More Money From...
An article on Bloomberg yesterday announced what many in SPAC Land have been wondering after UBS acquired Credit Suisse – where was Niron Stabinsky, the Head of SPACs at Credit Suisse, going to land? The answer is Banco Santander SA, in what appears to be a massive lift of most (or nearly all) of Credit...