Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Byju skips payment on dollar loan and HNR affirms intent to purchase equity interests of Pogo Resources
High-Flying Indian Startup Byju’s Skips Payment on Dollar Loan
One of India’s best-known startups has skipped payment on a dollar loan, escalating a conflict with lenders that underscores the company’s mounting distress.
Byju’s, an education-technology company that provides services to more than 150 million students around the world, didn’t pay $40 million in interest due Monday on a $1.2 billion loan. The firm, led by former teacher Byju Raveendran, said in a statement that it has elected not to make further payments on the so-called term loan B and that it filed a complaint concerning the facility to the New York Supreme Court.
Byju’s had reached a valuation of $22 billion and had considered merging with a special-purpose acquisition company to go public last year.
READHNR Acquisition Corp Announces Affirmation of Intent To Purchase Equity Interests of Pogo Resources, LLC and Its Subsidiaries
HNR Acquisition (NYSE:HNRA) has affirmed its intent to purchase all equity interests in Pogo Resources, LLC and its subsidiary, LH Operating, LLC. Pogo has 100% interest in its only remaining asset, LH Operating LLC.
Earlier this year, HNRA agreed to purchase the equity interests in Pogo Resources and two affiliates for $120 million.
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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....