Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Ares considers raising $400M for new SPAC and electric air mobility division of AIRO and Kernel Group sign MOU with Blade India
Ares Considers New $400 Million SPAC Despite Market Lull
Ares Management Corp. (NYSE:ARES) is discussing raising $400 million for a new special purpose acquisition company, even as dealmaking by blank-check firms has lagged, according to people with knowledge of the matter.
In February 2021, Ares raised $1 billion for a blank-check firm, Ares Acquisition Corp. That vehicle, led by Chief Executive Officer David Kaplan, has agreed to merge with X Energy Reactor Co., a nuclear power technology firm.
READElectric Air Mobility Division of AIRO Group Holdings, Inc. and Kernel Group Holdings Announce MOU with Blade India
Fly Blade (India) Private Limited, a joint venture between Hunch Ventures and Blade Air Mobility, Inc., and Jaunt Air Mobility LLC, a subsidiary of AIRO Group Holdings, Inc., announced today they have signed a memorandum of understanding (“MOU”) aimed at launching electric vertical take-off and landing (eVTOL) aircraft operations in India and the subcontinent region by 2027. The MOU includes BLADE India’s intended acquisition of 150 Jaunt Journey aircraft, with an option to order another 100 aircraft to meet the projected demand over the next decade.
Kernel Group Holdings, Inc. (NASDAQ: KRNLU) has entered into a definitive business combination agreement with AIRO Group Holdings, Inc., a multi-faceted air mobility, autonomy & aerospace platform.
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Terms Tracker for the Week Ending May 26, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As we head into the holiday weekend, it’s looking like SPACs will end the month of May with an IPO count of three. Technically, there’s...
Latest SPAC Liquidations: Social Capital Suvretta Holdings II & IV, Sculptor Acquisition Corp I, Logistics Innovation Technologies Corp., and Senior Connect I Social Capital Suvretta Holdings Corp. II (DNAB) to Liquidate on June 30 On May 26, Social Capital Suvretta Holdings Corp. II (NASDAQ:DNAB) announced that it would not complete its initial business combination by its...
Latest Non-Redemption Agreements: Southport Acquisition Corp., and Social Leverage Acquisition Corp. I Southport Acquisition Corporation (PORT) Adds Non-Redemption Agreement On May 25, 2023, Southport Acquisition Corporation (NYSE:PORT) and its sponsor, Southport Acquisition Sponsor LLC, entered into voting and non-redemption agreements with unaffiliated third parties in exchange for such third parties agreeing not to redeem an aggregate...
ST Energy Transition I Ltd. (NYSE: STET) announced this afternoon that it has cancelled its meeting to vote on an extension proposal. The SPAC initially announced the pricing of its $250 million IPO in December 2021 and had 18 months on its timeline to combine with a target. If the SPAC received shareholder approval of an...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: VinFast recalls first batch of EVs in the US, Arrival seeks second chance with EV tax credits, and QualTek files for bankruptcy Vietnam’s VinFast recalls first batch of US-bound EVs over safety risk Vietnamese...