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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Despite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...
At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...