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The Latest SPAC News and Rumors: March 21, 2022
by Marlena Haddad on 2022-03-21 at 11:35am


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: D-Orbit announces upcoming launch, Hong Kong sees increased interest in SPACs, and Skadden hires SEC veteran who oversaw SPAC enforcement 

D-Orbit Announces Upcoming Launch of SPACELUST, its Fifth ION Satellite Carrier Mission

D-Orbit, the space logistics and orbital transportation company, announced today the upcoming launch of SPACELUST, the fifth mission using the Company’s proprietary ION Satellite Carrier (ION), a flexible and cost-effective orbital transfer vehicle (OTV) spacecraft designed both to precisely deploy satellites and perform technology demonstrations of third-party payloads in orbit.

On January 27, 2022, D-Orbit entered into a business combination agreement with Breeze Holdings Acquisition Corp.  (NASDAQ: BREZ).


Asia’s SPAC Godfather Expects Bumper Harvest in Hong Kong

Jason Wong, one of the first financiers to file for a SPAC listing in Hong Kong, said at least 40 blank-check companies may list in the city this year.

Wong, dubbed by local media as “the godfather of SPACs in Asia,” said he’s seeing a ton of interest from Chinese dealmakers looking to start their own special purpose acquisition companies in the financial hub. While Hong Kong’s first SPAC was hurt by the recent market turmoil, there will be “huge” demand from promoters to launch more offerings if sentiment improves, Wong said.


Hong Kong SPACs Backed by Star Promoters That Include An Olympian, Former Central Banker

An Olympian, a former central banker, a tycoon, medical experts, and veteran investment bankers are among the star promoters of the first group of SPACs in Hong Kong.

The 11 SPACs that have applied to list in Hong Kong cover a wide range of industries and professions, including consumer, health care and TMT, as well as new energy banking and finance, seen as important to the development of SPACs in Hong Kong.


Lawrence Ho Files For SPAC Listing In Hong Kong

Black Spade Asia Acquisition, which is co-promoted by billionaire Lawrence Ho Yau-lung’s private investment firm Black Spade Capital, filed to list in Hong Kong yesterday as a SPAC.

Its other promoter is BOCHK Asset Management, a subsidiary of the state-owned commercial bank BOCHK.

Ho is the chief executive of Melco International Development and Melco Resorts & Entertainment, the casino operator. The SPAC intends to target companies in Greater China that are related to the entertainment, lifestyle and healthcare industry, with UBS being the sole sponsor for the proposed offering


Skadden Hires SEC Veteran Bandy Who Oversaw SPAC Enforcement

Anita Bandy, who in July oversaw a first-of-its-kind enforcement action against a special purpose acquisition company for the U.S. Securities and Exchange Commission, has joined Skadden, Arps, Slate, Meagher & Flom as a partner.

Bandy joins Skadden’s Washington office from her position as associate director in the SEC’s headquarters, where she managed a large docket of enforcement matters.

She oversaw charges brought against space transportation company Momentus Inc. (NASDAQ:MNTS) and SPAC Stable Road Acquisition Co., as well as sponsors of that deal and chief executive officers of the companies.



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