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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Exciting new things are coming for SPACInsider subscribers, and some have already arrived! This summer, SPACInsider is unveiling the SPACInsider Alerts App on iOS with an Android launch soon to follow. The app allows subscribers to stay ahead of the SPAC market with real-time, customizable filing alerts with instant notifications landing the moment that a...
At the SPAC of Dawn Futures are largely green with the CPI reading coming up, and several SPACs and de-SPACs have cause to feel bullish regardless of what the reading states. Pharma and beauty company Longevity Health (NASDAQ:XAGE) announced it will acquire plasma collection firm True Health ahead of market open in news that has...
Silver Pegasus Acquisition Corp. (NASDAQ:SPEGU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SPEGU”, Tuesday, July 15, 2025. The new SPAC plans to search within the technology sector, with a focus on semiconductors and systems solutions. Silver Pegasus Acquisition Corp.’s management...
Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...
Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...