Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Vinod Khosla says SPACs are a great alternative for tech, and Apollo’s Rowan believes the SPAC ecosystem is here to stay, while Fed’s Powell says it makes the market feel ‘frothy’
SPACs Are Great Alternative for Tech: Vinod Khosla
Khosla Ventures co-founder Vinod Khosla discusses the continuing popularity of tech companies deciding to go public via SPACs including Berkshire Grey, warehouse automation company and Khosla Ventures investment recipient.
“If you look at the biotech industry, they’ve been able to do IPOs 5-10 years before first revenue. They need to project into the future, explain their future and IPOs have been available to do that. There’s many more areas of technology that fit the same model, and for them, SPACs may be a great alternative,” Khosla said in an interview with Bloomberg Technology.
READThe SPAC Ecosystem Is Here To Stay: Apollo’s Rowan
Apollo Global Management Inc. co-founder and newly minted CEO Marc Rowan talks about how Wall Street is changing and the future of SPACs.
“I think the SPAC ecosystem is here to stay,” says Apollo’s Rowan. “We have been beneficiaries of the SPAC ecosystem, we view it simply as an extension of growth investing.”
He spoke to Bloomberg’s Jason Kelly in a wide-ranging interview for Bloomberg Live’s Invest Talks series.
READBitcoin, SPACs Make Market Feel ‘Frothy,’ Fed’s Powell Says
Federal Reserve Chair Jerome Powell comments on the state of financial markets during testimony before the U.S. Senate Committee on Banking, Housing, and Urban Affairs.
“SPACs are getting done, bitcoin is going up in value and down in value so at times its felt like a somewhat frothy market, and you do worry about that,” said Powell.
READSoftBank Unit to Invest in Thiel-Backed Crypto Exchange Bullish
A unit of SoftBank Group Corp. agreed to invest $75 million in Bullish, the sponsor of a not-yet-operational cryptocurrency exchange, as the startup prepares to go public through a merger with a SPAC, according to Bloomberg.
SB Northstar LP will acquire 7.5 million Bullish shares for $10 each at the time it combines with Far Peak Acquisition Corp., according to documents filed July 9 with the U.S. Securities and Exchange Commission. It will also buy 3 million warrants to purchase shares of Far Peak, the SPAC taking Bullish public.
The SoftBank unit made the commitment through a $300 million private offering that Bullish held last week, according to the filings, though it was not identified in a subsequent release as one of the buyers.
READ
Terms Tracker for the Week Ending July 3, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re heading into the July 4th holiday, so we’ll keep this week’s column short and to the point. But before you head to the beach,...
Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....