SPACInsider Logo
The Latest SPAC News and Rumors: July 16, 2021
by Marlena Haddad on 2021-07-16 at 11:54am

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.


The 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.


Bitcoin, 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.


SoftBank 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.



Recent Posts
by Marlena Haddad on 2023-06-07 at 5:54pm

Latest Non-Redemption Agreements:  EVe Mobility and Swiftmerge EVe Mobility Acquisition Corp. (EVE) Adds Non-Redemption Agreement On June 7,  EVe Mobility Acquisition Corp. (NYSE:EVE) and the sponsor entered into further non-redemption agreements with additional unaffiliated third party investors pursuant to which the investors have, in connection with the Extension Meeting, agreed not to redeem their Class A Ordinary...

by Marlena Haddad on 2023-06-07 at 5:52pm

Latest SPAC Liquidations: Ahren Acquisition Corp. Ahren Acquisition Corp. (AHRN) to Liquidate on June 19 Ahren Acquisition Corp. (Nasdaq: AHRN) today announced its board of directors has determined to redeem all of its outstanding Class A ordinary shares, effective as of June 19. As of the open of business on June 20, the Class A Shares...

by Marlena Haddad on 2023-06-07 at 5:49pm

ROC Energy Acquisition Corp. (NASDAQ:ROC) announced in an 8-K today that its shareholders have approved its combination with oilfield services company Drilling Tools International (“DTI”) during a special meeting held on June 1. At the meeting, holders of 23,008,929 shares of common stock were present in person or by proxy, representing approximately 85.69% of the voting...

by Marlena Haddad on 2023-06-07 at 11:34am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: SMX to create new subsidiary, trueSilver, and enters into exclusive agreement with Sunshine Minting  SMX Extending Metals Business with trueSilver Aiming Both for Fashion Luxury and Bullion Products SMX (NASDAQ:SMX) is pleased to announce...

by Nicholas Alan Clayton on 2023-06-07 at 7:33am

Rice II (NYSE: RONI) announced in an 8-K today that its shareholders have approved its combination with energy technology company NET Power with relatively low redemptions. In the end, 21,195,224 shares were redeemed in connection vote, removing 61% of Rice II’s trust. This is the second best result among the 32 deals that have come...

Privacy Policy|Terms Of Use
Copyright © 2023 SPACInsider, Inc. All Rights Reserved