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).READ
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.READ
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.READ
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 offeringREAD
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.READ
Terms Tracker for the Week Ending March 24, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. While this week was relatively quiet on the filings front, we did see March’s second SPAC IPO price with Oak Woods Acquisition Corp’s $50 million...
Latest Non-Redemption Agreements: ExcelFin Acquisition Corp. ExcelFin Acquisition Corp. (XFIN) Adds Non-Redemption Agreement In connection with the special meeting of stockholders of ExcelFin Acquisition Corp. (NASDAQ:XFIN) to extend its completion deadline from April 25, 2023 to October 25, 2023, the company and its sponsor, ExcelFin SPAC LLC, entered into a non-redemption agreement with an unaffiliated third party....
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Momentus SPAC backers accused of deliberately engineering a catastrophic deal Momentus SPAC Backers Accused of Hiding Disastrous Deal’s Flaws A Momentus Inc. (NASDAQ:MNTS) investor sued backers of its blank-check merger with a shell company,...
DiamondHead Holdings Corp. (NASDAQ:DHHC) announced in an 8-K this morning that its shareholders approved its combination with Great Southern Homes at a special meeting March 23. Only 109,426 shares were redeemed in the connection with the vote, but DiamondHead has seen about 87% redemptions in total across all previous votes, leaving it with about $43.9...
Graf Acquisition Corp. IV (NYSE:GFOR) announced that it has signed a non-binding letter of intent to combine with clinical-stage biopharma company NKGen. This announcement is not a pure teaser as Graf IV is not facing an imminent extension vote and currently has until May 25 on its clock. It does, however, signal something of a...