Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Circle’s Allaire says crypto is ‘double-edged sword’ amid war, HKMA’s former chief files SPAC listing, and judge says Palihapitiya must face Clover shareholders’ lawsuit
Crypto is ‘Double-Edged Sword’ Amid War, Circle’s Allaire Says
Circle Internet Financial’s Jeremy Allaire said Russia’s attack on Ukraine highlights the paradox of cryptocurrencies for both participants and regulators.
Allaire, co-founder of the payments and financial infrastructure company behind the USDC stablecoin, said the situation is similar to the early days of the internet.
Allaire co-founded Circle in 2013 and recently reworked a deal with blank-check company Concord Acquisition (NYSE:CND) that raised its valuation to $9 billion, roughly double when the terms were first struck in 2021. Circle’s USDC stablecoin recently surpassed $50 billion in circulation.READ
Former HKMA Chief’s SPAC Files Hong Kong IPO, Eyes Fintech Targets
The former head of Hong Kong’s de facto central bank has formed a SPAC with two family members of the city’s former chief executive, as they look to bank on their credentials to raise funds for their blank check company.
Named HK Acquisition Corp, the company filed a draft prospectus sponsored solely by Haitong International on the city’s stock exchange on Monday night.
U.S. Judge Says Palihapitiya Must Face Clover Shareholders’ Lawsuit
A U.S. judge has ruled that venture investor Chamath Palihapitiya, Clover Health Investments Corp (NASDAQ:CLOV) and its executives must face a lawsuit that claims they misled investors about the health insurance company when it went public via one of Palihapitiya’s many SPACs.
U.S. District Judge Aleta Trauger in Nashville on Monday declined to dismiss the case, allowing investors to proceed with allegations Clover lied about the source of its growth and the existence of a U.S. Department of Justice probe into the company.READ
Phoenix Biotech Acquisition Corp. (NASDAQ:PBAX) announced this morning that it has mutually agreed to terminate its combination with therapeutics company Intrinsic Medicine. Similar to other SPACs, Phoenix Biotech disclosed that the two parties have decided to nix the deal due to the result of weakened markets. Chris Ehrlich, CEO and director of PBAX, noted in...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC Liquidations: Broadscale, Revolution Healthcare, Research Alliance II, and Kairos Broadscale Acquisition Corp. to Liquidate On December 6, 2022, stockholders of Broadscale Acquisition Corp. (NASDAQ:SCLE) approved amendments to change the termination date from February 17,...
Roth CH Acquisition IV Co. (NASDAQ:ROCG) has entered into a definitive agreement to combine with renewable energy equipment-maker Tigo for pre-money equity consideration of $600 million. Campbell, California-based Tigo manufacturers components that optimize and enhance safety for solar panel arrays, with installations on seven continents The combined company is expected to trade on the Nasdaq...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Portugal real estate developer Vic Properties in merger talks with BurTech Caner-Led Aggregate Is Said to Discuss Vic Properties SPAC Deal Aggregate Holdings SA is in talks to take its Portuguese unit Vic...
SportsMap Tech Acquisition Corp. (NASDAQ:SMAP) has entered into a definitive agreement to combine with intelligent thermal imaging provider Infrared Cameras Holdings (ICI) at a pre-money equity valuation of $100 million. Beaumont, Texas-based Infrared Cameras Holdings develops and manufactures infrared-sensor systems, offering handheld and fixed hardware. The combined company is expected to trade on the Nasdaq once the...