Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Hydrow raises $55 million, and first Hong Kong SPAC has slow start in trading debut
Hydrow Raises $55M as the At-Home Fitness Industry Faces a Post-Lockdown Reckoning
Hydrow, maker of a $2,500 connected rowing machine, said Thursday it has landed another $55 million in funding to fuel its growth while the at-home fitness industry undergoes a shakeout as consumers return to gyms after two years of Covid-related lockdowns and restrictions.
The Series D round brings its total funding to date to more than $255 million, the company said.
Last June, Hydrow was exploring pursing an initial public offering, or merging with SPAC Sandbridge X2 Corp. (NYSE:SBII) at a valuation of more than $1 billion.
READFirst Hong Kong-Listed SPAC Has Slow Start In Trading Debut
Aquila Acquisition Corp., the first SPAC to list in Hong Kong, had a slow debut Friday as few investors are qualified to trade the shares.
The SPAC closed 3.2% lower at HK$9.68 after a session marked by only a few trades. The firm backed by CMB International Asset Management and AAC Mgmt Holding raised about $128 million in the IPO with shares sold at HK$10 each, inaugurating rules for blank-check companies effective since January.
READ
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: NYSE president says IPO proceeds fall more than 90% while Nasdaq president remains hopeful for 2023, and Giuliani brothers sell pharma stocks as they invest in biotech SPACs NYSE president says IPO proceeds fall...
InterPrivate II Acquisition Corp. (NYSE:IPVA) disclosed this morning that it has restructured its bonus share agreement in connection to its proposed merger with carsharing marketplace Getaround. The parties previously agreed to reserve and set aside the bonus shares, consisting of 9,333,333 shares, to be allocated to the non-redeeming public stockholders, the designees of EarlyBirdCapital and the...
Iris Acquisition Corp. (NASDAQ:IRAA) has entered into a definitive agreement to combine with biotech firm Liminatus at an enterprise value of $334 million. La Palma, California-based Liminatus is a clinical-stage drug developer working on a range of cancer treatments utilizing both preventative vaccines and CAR-T therapies. The combined company is expected to trade on the...
Lakeshore Acquisition Corp. I (NASDAQ:LAAA) announced this morning that it has entered into a non-redemption agreement and amended its purchaser support agreement with initial shareholders in connection to its proposed merger with medical device company ProSomnus. The SPAC entered into non-redemption agreements with certain institutional investors for an aggregate of 200,339 shares of the purchaser. These investors...
The companies and sponsors of six SPAC deals are set to see their lock-ups expire before the end of the year. This is a relatively small monthly total as the wave of deals from 2020 and 2021 are still hitting this milestone. The list nonetheless includes some major names starting with Forafric (NASDAQ:AFRI), which is...