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
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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Metals Acquisition (NYSE:MTAL) has begun an exchange of all outstanding warrants, offering holders up to 0.361 shares per warrant on a cashless basis or $0.10 per warrant if they so choose. The cashless option provides significantly more value as Metals last closed at $12.85, meaning warrants converted under that ratio would be worth about $4.63...
At the SPAC of Dawn Autonomous driving has seen some of the highest peaks and deepest valleys in share performance as the market has adjusted its appetites on tech companies. But, although it has shown many pitfalls, it continues to attract significant investment and is a focus for both startups and established automakers. Hyundai (KS:005380)...
Terms Tracker for the Week Ending May 3, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. The big news this week was that SPACs finally had a new IPO price with Churchill Capital Corp. IX’s $250 million offering on Thursday. SPACs...
Real estate marketplace Opendoor (NASDAQ:OPEN) is poised to be the latest de-SPAC to take a double-digit jump on earnings as it heads towards the weekend up +10%, having spiked as high as +27% earlier in the day. The movement comes as the former Social Capital II target reported progress towards profitability despite a high rates...
At the SPAC of Dawn Coinbase (NASDAQ:COIN) notched a surprise profit of over $1.5 billion in the first quarter of 2024, well exceeding estimates, demonstrating the powerful effect of publicly traded ETFs have had on crypto marketplaces since the start of the year. The result has pushed the company to bump up its own guidance...