The Latest SPAC News and Rumors: May 17, 2023
by Marlena Haddad on 2023-05-17 at 11:36am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News:  Martin Franklin’s new buyout vehicle raises $550 million in IPO, and VinFast targets profit after 2025


Martin Franklin’s New Buyout Vehicle Raises $550 Million in IPO

An acquisition company backed by serial dealmaker Martin E. Franklin has raised $550 million, exceeding an earlier goal for the initial public offering.

Admiral Acquisition Ltd. priced 55 million units at $10 each after earlier marketing 50 million units, according to a term sheet for the listing. The shares are expected to begin trading Wednesday on the London Stock Exchange.

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Vietnam EV Maker VinFast Targets Profit After 2025, Founder Says

VinFast founder Pham Nhat Vuong said the electric vehicle maker could be profitable after 2025 if operations are “smooth” and break even by the end of 2024.

Vuong, speaking at a Hanoi shareholders’ meeting of parent company Vingroup JSC, forecast sales of EVs to reach 45,000-50,000 this year. The company may produce electric pickup trucks, a mini car and other models, subject to market demand.

Vingroup said last week it plans to go public in the US through a merger with special purpose acquisition company Black Spade Acquisition Co. (NYSE:BSAQ) in the second half of the year.

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The Latest SPAC News and Rumors: May 17, 2023
Recent Posts
by Nicholas Alan Clayton on 2025-07-02 at 12:13pm

McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...

by Nicholas Alan Clayton on 2025-07-02 at 8:29am

At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....

by Nicholas Alan Clayton on 2025-07-02 at 6:28am

EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...

by Nicholas Alan Clayton on 2025-07-01 at 7:51pm

Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....

by Nicholas Alan Clayton on 2025-07-01 at 7:47pm

Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....

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