Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Byju’s founder in $800M funding round with BlackRock, Wag! announces record 4Q and full year 2021 results, and Romeo Power partners with Wrightspeed
Byju’s Founder in $800 Million Funding Round With BlackRock
Byju Raveendran is investing $400 million in his namesake and India’s most valuable startup, Byju’s, leading an $800 million funding round alongside investors BlackRock Inc. (NYSE:BLK), Sumeru Ventures and Vitruvian Partners.
The funding round has closed even as the Bangalore-headquartered edtech startup is in negotiations with at least three SPACs with plans to go public via a merger. The SPACs include Michael Klein’s Churchill Capital (NYSE:CVII) and Michael Dell’s MSD Acquisition Corp. (NASDAQ:MSDA), and the SPAC promoted by Harry Sloan, a long-time Hollywood executive.
READWag! Announces Record Fourth Quarter and Full Year 2021 Results, Beats Initial Revenue and EBITDA Guidance
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, which recently announced it would become publicly traded through a merger with CHW Acquisition Corp. (Nasdaq: CHWA), today announced financial results for its fourth quarter and full fiscal year ending December 31, 2021.
READRomeo Power and Wrightspeed Announce “Powertrain in a Crate” to Safely Repower School Buses, Transit Buses and Certain Medium and Heavy Duty Trucks Into Zero Emission Electric Vehicles
Romeo Power (NYSE: RMO) and Wrightspeed, today announced that they are working together to leverage Romeo Power’s high-capacity battery packing and module technology along with Wrightspeed’s high torque, high-efficiency powertrain system to accelerate electrification in the bus, and medium and heavy duty truck market.
RMG Acquisition Corp. announced in a press release that its shareholders approved its combination with Romeo Power on December 28, 2020.
READFTAC Emerald (NASDAQ:EMLD) has entered into a definitive agreement to combine with crypto fintech firm Fold at an enterprise value of $381 million. Phoenix, Arizona-based Fold provides digital banking services backed by a treasury of Bitcoin that includes FDIC-secured checking accounts as well Bitcoin trading and awards. The combined company is expected to trade on...
At the SPAC of Dawn Dealmakers remain confident that AI is going to play a big role in their M&A processes, but feel unprepared for some the changes, according to a new survey of 225 corporate and 75 private equity transactions professionals. SS&C subsidiary Mergermarket generated the report that found more than half of respondents...
Trailblazer Merger I (NASDAQ:TBMC) has entered into a definitive agreement to combine with data intelligence firm Cyabra at an enterprise value of $70 million. Tel Aviv-based Cyabra provides tools to corporations and governments to identify fake accounts and combat social media disinformation. The combined company is expected to trade on the Nasdaq once the deal...
Chain Bridge I (NASDAQ:CBRG) has entered into a definitive agreement to combine with cannabinoid pharmaceuticals firm Phytanix Bio at a pre-deal valuation of $58 million. Santa Barbara, California-based Phytanix is working to develop bladder and seizure treatments using cannabis-based substances. The combined company is expected to trade on the Nasdaq under the symbol “PHYX” once...
At the SPAC of Dawn A new ripple is expected to come to the market today in the form of Ethereum spot ETFs after the SEC gave final approval to several yesterday. BlackRock, Fidelity, Bitwise, Franklin, and VanEck all received approval for their new funds and all but BlackRock plan to waive fees until they...