The Latest SPAC News and Rumors: January 26, 2023

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The Latest SPAC News and Rumors: January 26, 2023

by Marlena Haddad on 2023-01-26 at 11:40am

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

Latest SPAC News: Disruptive Capital sets out to buy back 95% of shares and Buzzfeed rallies after report of Meta deal

SPAC To Buy Back 95% Of Shares After Merger Talks End

Disruptive Capital Acquisition Co. (NASDAQ:DISA) has set out plans to buy back 95% of its shares for up to £128. 5 million ($159. 3 million), after the blank-check company struggled in its attempts to find a merger target.

Battered Buzzfeed shares rally after report of multi-million dollar Meta deal

Shares of BuzzFeed Inc (NASDAQ: BZFD) jumped over 50% in early trading after a report said Meta Platforms Inc (NASDAQ: META) was paying the digital media firm millions of dollars to bring more creators to Facebook, Instagram.

About 30 million shares changed hands by 9:50 a.m. ET, setting the stock for its busiest session on record and well above its 25-day moving average volume of about 150,000.

The $132 million company has seen its shares tank over 90% to just under $1 since going public via a reverse merger with a SPAC in December 2021.

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