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.
READVietnam 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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Hennessy Capital Investment Corp. VII (NASDAQ:HVIIU) announced the pricing of its $175 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “HVIIU”, Friday, January 17, 2025. The new SPAC intends to seek out a business combination with a company in the industrial technology and energy transition sectors. Hennessy...
Equites and crytpo trading platform eToro has reportedly filed for a traditional IPO two-and-half years after nixing its SPAC combination and its renewed thrust to the public markets could provide a useful demonstration of where things sit for SPACs in 2025. For one, eToro is reportedly making its IPO move at a valuation of $5...
At the SPAC of Dawn Right on the heels of a mostly positive inflation picture, SPACs are set to take in a raft of new indicators for retail sales, import prices and homebuilder confidence later today. SPACs may have some extra confidence of their own knowing that one of their major foes on the de-SPAC...
At the SPAC of Dawn After an up-and-down week on the market, all eyes are set to be glued to this morning’s Consumer Price Index readouts for signs of where the Fed might take its rate-cut strategy. US exchanges had a slightly positive day in reaction to Core PPI coming in at 0.1% for December...
Ribbon Acquisition Corp. (NASDAQ:RIBBU) announced the pricing of its $50 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “RIBBU”, Wednesday, January 15, 2025. The new SPAC intends to take a generalist approach in searching for a business combination, but will not consider targets located in China. Ribbon’s...