Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: SEC focuses on bank fee conflicts with SPACs, Policygenius in talks to merge with PWP Forward, and Temasek says some of its portfolio companies are looking at SPAC mergers
U.S. SEC Focuses on Bank Fee Conflicts As It Steps Up SPAC Inquiry
The U.S. securities regulator has ramped-up its inquiry on Wall Street’s blank check acquisition frenzy, homing in on potential conflicts of interest created when banks act as underwriters and advisers on the same deal, three people with direct knowledge of the matter told Reuters.
The SEC is exploring whether certain fee structures may incentivize underwriters on SPAC listings to secure unsuitable deals when also advising on the later stage merger, potentially putting investors at risk.
READPolicygenius Is in Talks To Go Public Via Perella Forward SPAC
Online insurance marketplace Policygenius Inc. is in talks to go public through a merger with the blank-check company PWP Forward Acquisition Corp. I (Nasdaq:FRW), according to Bloomberg.
A valuation for the transaction hasn’t yet been finalized.
READTemasek Says Some Of Its Portfolio Companies Are Looking At SPAC Mergers
Singapore state investment firm Temasek Holdings says it has observed a heightened interest among Southeast Asian companies to list via a SPAC, adding that some of its portfolio firms are looking to take advantage of the option.
READ
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...
Phoenix Biotech Acquisition Corp. (NASDAQ:PBAX) announced this morning that it has mutually agreed to terminate its combination with therapeutics company Intrinsic Medicine. Similar to other SPACs, Phoenix Biotech disclosed that the two parties have decided to nix the deal due to the result of weakened markets. Chris Ehrlich, CEO and director of PBAX, noted in...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC Liquidations: Broadscale, Revolution Healthcare, Research Alliance II, and Kairos Broadscale Acquisition Corp. to Liquidate On December 6, 2022, stockholders of Broadscale Acquisition Corp. (NASDAQ:SCLE) approved amendments to change the termination date from February 17,...