Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: KKR SPAC mulls $14B deal for PetSmart, ex-Daimler boss tapped for new Kensington auto-focused SPAC, and Singapore’s first SPACs off to timid start
KKR SPAC Said to Mull Deal for PetSmart at $14 Billion Value
PetSmart (NASDAQ:PETM) is in talks to go public through a blank-check company backed by private equity firm KKR & Co., according to Bloomberg.
The pet supply retailer, backed by BC Partners, would be valued in the transaction at $14 billion including debt. KKR Acquisition Holdings I Corp. (NYSE:KAHC) raised $1.38 billion in its initial public offering last March to hunt for a deal in the consumer or retail industries.
READEx-Daimler Boss Tapped for New Kensington Auto-Focused SPAC
Kensington Capital, whose blank-check firms have already taken public QuantumScape Corp. (NYSE:QS) and Wallbox NV (NYSE:WBX), has tapped former Daimler AG chief Dieter Zetsche as vice chairman for a fourth automotive-focused SPAC.
Its latest SPAC, Kensington Capital Acquisition Corp IV(NYSE:KCAC.U), filed Thursday to raise $200 million in an initial public offering. The company said it will focus on acquiring a business “operating in the global automotive and automotive-related sector.”
READSingapore’s First SPACs Off to Timid Start in Rough Trading Week
A lackluster market debut for the first two blank-check companies to list in Singapore is raising some questions whether the excitement seen for such vehicles in the U.S. early last year will prevail in Asia.
Vertex Technology Acquisition Corp., sponsored by a unit of state investor Temasek, jumped in early trading on Thursday, but is now just 1% higher than its offer price. Tikehau Capital SCA-backed Pegasus Asia has been largely flat since listing earlier on Friday.
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D and Z Media Acquisition Corp. (NYSE:DNZ) announced this afternoon that its special meeting, originally scheduled for 12:00 p.m. today, was convened and then adjourned, without conducting any business, to 1:30 p.m. on December 19. As of now, DNZ has a completion deadline of January 28, 2023, but is hoping to seek shareholder approval to add an extra...
EDOC Acquisition Corp. (NASDAQ:ADOC) has entered into a definitive agreement to combine with food oil processing company Australian Oilseeds at an enterprise value of $190 million. Australian Oilseeds manufactures food-grade, edible oils through several subsidiaries. Transaction Overview EDOC has an estimated $21.3 million in its current trust after seeing about 77.5% redemptions in extension votes....
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Buzzfeed cuts 12% of staff, and ASIG plans to expand through acquisition upon completion of SPAC BuzzFeed cuts 12% of staff citing worsening econ conditions Digital media company BuzzFeed (NASDAQ:BZFD) is cutting 12%...
What is your life insurance policy worth while you’re still living? This week, we speak with Abacus Life President and CEO Jay Jackson who may just want to buy yours. Abacus Life has made a business of buying consumer life insurance policies for upfront payments and holding them until maturity. To help bring this particular kind of transaction...
Golden Falcon (NYSE:GFX) has entered into a definitive agreement to combine with freight aviation company MNG Airlines at an enterprise value of $676 million, or 5.8x its LTM adjusted EBITDA. Istanbul-based MNG Airlines operates air freight services to four continents with a fleet of nine jets. The combined company is expected to trade on the...