Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Martin Franklin in talks to list new SPAC in London, Wag! to launch community shares program and Polestar chooses AutoNexus to prep and deliver cars in Australia
Blank-Check Pioneer Martin Franklin Eyes London Listing
Serial dealmaker Martin E. Franklin is in exploratory talks to list a new acquisition vehicle in London, according to Bloomberg.
The Jarden Corp. (NYSE:JAH) co-founder is working with UBS Group AG (NYSE:UBS) and Jefferies Financial Group Inc. (NYSE:JEF) to market the listed acquisition vehicle to investors.
The vehicle to be called Admiral will be sponsored by Franklin’s family office Mariposa Capital and could list on the London Stock Exchange as soon as September, if it draws investor commitments of at least $500 million, the people said.
READWag! to Launch Community Shares Program for Pet Caregivers and Nonprofit Charities with Help of Robinhood and DonateStock
Wag Labs, Inc., an American pet services marketplace company powering a mobile-first technology platform that enables on-demand and scheduled dog walking, training, and other pet care services, announced today the launch of its Wag! Community Shares Program.
With the Program, Wag! is pioneering a new method of charitable giving for the community of pet caregivers and for domestic pet nonprofit organizations. At the close of its previously announced business combination with CHW Acquisition Corporation (Nasdaq: CHWA, “CHW”), a publicly traded special purpose acquisition company, Wag! will reserve up to 300,000 shares of common stock for the Program, to be arranged through and administered by Robinhood Financial LLC, an American financial services company, and DonateStock, a fintech philanthropy company.
READAutoNexus chosen to prep and deliver Polestar cars in Australia
Fulfilment firm AutoNexus has been chosen as the logistics company for electric vehicle maker Polestar locally.
That means it will cover services including vehicle transport, processing, storage and full pre-delivery prep for Polestar’s electric vehicles as the latter expands in Australia.
Gores Guggenheim shareholders approved its combination with Swedish electric vehicle-maker Polestar in a special meeting held on June 22.
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At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...
Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...