Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Investor sues over $16B United Wholesale Mortgage deal, and Freightos widens loss after listing on Nasdaq
SPAC Investor Sues Over ‘Abysmal’ $16B Mortgage Biz Merger
A special purpose acquisition company’s investor says in Delaware Chancery Court that the SPAC’s managers misled shareholders about a $16 billion merger with United Wholesale Mortgage (NYSE:UWMC) so that they could reap a return from what turned out to be an ‘abysmal’ deal.
READFreightos widens loss after listing on Nasdaq stock exchange
Freightos (NASDAQ: CRGO) has widened its fiscal-year loss after merging with SPAC Gesher I Acquisition Corp. in late January to become listed on the Nasdaq.
The Hong Kong-based container booking and payments platform posted $24.5 million in net loss for 2022, down from $16.4 million for 2021. Freightos attributed the greater loss to costs incurred while going public.
READ
YHN I (NASDAQ:DTSQU) has filed for a $60 million IPO today and brought with it a number of questions, chief among them: who is their underwriter? This is the first entry into SPAC underwriting for Lucid Capital Markets, a firm that does not appear to have a web presence or much of an existing reputation...
WinVest (NASDAQ:WINV) has entered into a definitive agreement to combine with ecommerce platform Xtribe at an equity value of $141 million. London-based Xtribe provides an ecommerce and ad-targeting marketplace connecting buyers and sellers in their local areas. The combined company is expected to trade on the Nasdaq once the deal is completed in late 2024....
At the SPAC of Dawn The long drought of new SPAC deals broke yesterday evening with WinVest‘s (NASDAQ:WINV) announcement of a $141 million ecommerce deal. It came exactly one month after the last deal, Blockchain Coinvestors‘ (NASDAQ:BCSA) announced tie-up with fintech Linqto. Before this, the SPAC market had scarcely gone two weeks without a fresh...
Thunder Bridge Capital Partners IV (NASDAQ:THCP) this week announced it believes it is nearing an SEC approval for its combination with Japanese crypto market place Coincheck, enough so that it aims to make it file its first public registration statement after previously filing them confidentially. Progress on the deal is surely welcome as it is...
At the SPAC of Dawn With the pricing of GP-Act III (NASDAQ:GPATU) this morning, May has already become the second most productive month for SPAC IPOs with two. February saw three get through, but the pair of May SPAC IPOs is encouraging both because they come just nine days into the month and follow a...