Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: eToro secures $250M at $3.5B valuation after scrapping SPAC, DWAC stock gains amid speculation Trump may be arrested, and Morgan Creek SPAC ETF to shut down
eToro secures $250M at a $3.5B valuation after scrapping SPAC, seeing slower growth
After calling off its plans to go public via a SPAC at a $10.4 billion valuation in 2022, trading platform eToro has secured $250 million in funding at a $3.5 billion valuation.
The money is not a typical equity round: it comes by way of an Advanced Investment Agreement (AIA), eToro founder and CEO Yoni Assia told TechCrunch. The company had secured the AIA in early 2021 as a kind of backstop from current backers in the event that its proposed SPAC fell through. Investors include ION Group, Social Leverage, SoftBank and Spark Capital.
READTrump SPAC DWAC stock gains amid speculation former president may be arrested Tuesday
Trump SPAC Digital World Acquisition (NASDAQ:DWAC), jumped 11% amid speculation that former president may be arrested in New York on Tuesday over alleged hush money he paid to women before the 2016 election.
Trump noted in a Truth Social posting on Saturday that “illegal leaks” indicate that he will be arrested on Tuesday.
READAnother SPAC ETF closing as Wall Street craze dies out
Another ETF investing in SPACs is due to shut this week in a further sign that investor interest in what was once the stock market’s hottest trend has well and truly subsided.
Two SPAC ETFs – the Defiance Next Gen SPAC Derived ETF (SPAK US) and Morgan Creek – Exos SPAC Originated ETF (SPXZ US) – both closed up in September 2022 after trading for less than two years.
Now, the latest SPAC ETF casualty is the Morgan Creek – Exos Active SPAC Arbitrage ETF (CSH US) which was brought to market just one year ago in February 2022.
READLeading Bitcoin ATM Operator Bitcoin Depot Announces Retail Partnership with GetGo Cafe + Market
Lux Vending, LLC dba Bitcoin Depot, a U.S.-based Bitcoin ATM (“BTM”) operator and leading fintech company, today announced a partnership with GetGo-Cafe + Market, an innovative, food-first convenience store retailer with more than 270 locations throughout western Pennsylvania, Ohio, northern West Virginia, Maryland and Indiana.
On August 24, 2022, Bitcoin Depot and GSR II Meteora Acquisition Corp. (“GSRM”), a special purpose acquisition corporation, entered into a definitive agreement for a business combination that would result in Bitcoin Depot becoming a public company listed on the Nasdaq under the ticker symbol “BTM.”
READSPACs are back as British biotech firm Zura launches UK’s first Nasdaq listing in 2023
There are signs the SPAC could be making a comeback as a British biotech company will today use the unusual vehicle to become the first UK firm to list on the Nasdaq exchange in 2023.
Zura Bio, which develops medicines for immune system disorders, has raised $65 million (£53 million) via a special purpose acquisition company or SPAC called JATT.
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Vehicle data-tracker Wejo (NASDAQ:WEJO) announced in an 8-K this afternoon that it has filed its intention to appoint an administrator to oversee its insolvency and it is evaluating whether it will do so in the United States as well. The company, which completed a de-SPAC transaction with Virtuoso in November 2021, has another SPAC deal...
Aimei Health Technology Co. (NASDAQ:AFJK) filed its S-1 Friday afternoon for a $50 million IPO, marking the fourth SPAC to file for an IPO in May and the twelfth year-to-date. Given its name, it comes as no surprise that Aimei Health Technology intends to pursue prospective targets that are focused on healthcare innovation. More specifically, the...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: GreenLight Biosciences returns to private market, Jet.AI partners with Vegas Golden Knights and Cirrus Aviation, and True Velocity announces partnership with FN America GreenLight returns to private market in $46M deal after taste of...
GreenLight Biosciences (NASDAQ:GRNA), which combined with Environmental Impact in February 2022, announced this morning that it is being acquired in a go-private transaction by Fall Line Capital for $45.5 million. While this is a steep valuation decline from its $1.23 billion enterprise value at the announcement of its SPAC deal, this price does represent a...
FOXO Technologies Inc. (NYSE:FOXO), which completed its business combination with Delwinds Insurance in September 2022, announced this morning that it has consummated its exchange offer for all outstanding warrants as well as its PIK note offer to amend. As part of the offer, all holders of FOXO’s warrants received 4.83 shares of Class A common...