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The Latest SPAC News and Rumors: February 8, 2022
by Marlena Haddad on 2022-02-08 at 11:37am

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.

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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.

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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.

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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).

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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.

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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.

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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.

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