The Latest SPAC News and Rumors: March 28, 2023
by Marlena Haddad on 2023-03-28 at 11:52am

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.

READ

Electric 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.

READ

 

Recent Posts
by Nicholas Alan Clayton on 2025-02-07 at 2:43pm

Retail enthusiasm has been a lifeblood of many SPAC transactions through to the combined companies’ ongoing lives as public companies, and several have taken to buying up Bitcoin as a way of keeping sometimes fickle retail investors engaged. Enterprise software MicroStrategy (NASDAQ:MSTR) pioneered this tactic before spot Bitcoin ETFs were available to the general public....

by Nicholas Alan Clayton on 2025-02-07 at 8:23am

At the SPAC of Dawn  The markets may still be figuring out their way in careening the early decisions of the new presidential administration, but one de-SPAC decided to cash in on at least one of them yesterday. Rare earth miner Critical Metals (NASDAQ:CRML) raised $22.5 million in a private placement taking advantage of a...

by Nicholas Alan Clayton on 2025-02-06 at 8:15am

At the SPAC of Dawn  The market may have sighed in relief with the postponement of tariffs, but they may not have gone too far into the background as the US also reported a record high $98.4 billion trade deficit for December yesterday, which came in more than $2 billion deeper than expected. More signals...

by Nicholas Alan Clayton on 2025-02-05 at 8:23am

At the SPAC of Dawn  Commentators may still spar over the level of positive impact SPACs have had in some sectors, but Peter Beck, CEO of Rocket Lab (NASDAQ:RKLB), believes the vehicles have been particularly positive for the space industry. Although he described the period as a “crazy, crazy time” when speaking at the Smallsat...

by Nicholas Alan Clayton on 2025-02-04 at 7:08pm

K&F Growth Acquisition Corp. II (NASDAQ:KFIIU) announced the pricing of its $250 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “KFIIU”, Wednesday, February 5, 2025. The new SPAC intends to combine with a target company in the experiential entertainment industry underpinned by strong secular growth, a skilled...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved