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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Latest SPAC Liquidations: JAWS Hurricane JAWS Hurricane Acquisition Corporation (HCNE) to Liquidate on June 16 JAWS Hurricane Acquisition Corporation (Nasdaq: HCNE) today announced that its board of directors has determined not to proceed with a proposal to extend its corporate existence. As such, the Board has determined to cancel the special meeting of its stockholders,...
Jupiter Wellness Acquisition Corp. (NASDAQ:JWAC) announced this afternoon that it has completed its combination with Chinese carmaker Chijet. The deal was already approved by shareholders at a special meeting held on May 2, but at that time, the SPAC did not provide a timeline for the closing of the transaction. Although redemption numbers have still not...
The advent of summer is bringing nine lock-up expirations for de-SPAC’d companies and 10 on the sponsor side. The first change is to come for the sponsor of European Biotech Acquisition Corp., which closed its combination with Swiss pharma firm Oculis SA (NASDAQ:OCS) just three months ago. The sponsor is getting flexibility at a good...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Lucid to raise $3B in a common stock offering from Saudi owners, Betsy Cohen says SPACs will make a comeback, and SatixFy makes another leadership change Lucid Raising $3 Billion With More Money From...
An article on Bloomberg yesterday announced what many in SPAC Land have been wondering after UBS acquired Credit Suisse – where was Niron Stabinsky, the Head of SPACs at Credit Suisse, going to land? The answer is Banco Santander SA, in what appears to be a massive lift of most (or nearly all) of Credit...