Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: New rules for China’s tech companies threatens SPAC deals, and Li-Cycle partners with Univar Solutions OnSite Services
New Listing Rules For China’s Tech Companies Could ‘Dampen’ Appetite For SPAC Deals
A new slate of draft rules announced last week by the Cyberspace Administration of China (CAC) threatens to slow the rate of US listings by Chinese tech companies – and attractiveness of those companies to American investors.
It is early days, but it is possible the new regulations could weigh on acquisitions of Chinese companies by blank-check companies, according to Kristin Zimmerman, who heads Morgan Stanley’s SPAC M&A practice in New York.
Under the draft rules, the CAC, China’s top cybersecurity regulator, would review any foreign listings by technology platform companies that possess the data of at least 1 million users.
Li-Cycle Announces Partnership with Univar Solutions OnSite Services
Lithium-ion battery recycler Li-Cycle Corp. today announced a partnership with waste management leader Univar Solutions OnSite Services to provide waste management solutions for lithium-ion batteries.
Through the partnership, Li-Cycle and Univar Solutions customers will now benefit from a waste management solution for lithium-ion battery waste across multiple manufacturing verticals, including the growing North American electric vehicle manufacturing market.
Li-Cycle initially announced its business combination with Peridot on February 16.
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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...
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...
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...
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...
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...