Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Transfix reports record first quarter results, Blockchain Coinvestors launches $200M fund, and Offerpad announces earnings
Transfix Reports Record First Quarter 2022 Results
Transfix, Inc., the Intelligent Freight Platform™, today announced record financial results for the first quarter of 2022.
Total revenue increased 50% from the first quarter of 2021, to $90 million and gross profit increased 28% from the first quarter of 2021, to $6.0 million. Adjusted gross profit increased 34% from the first quarter of 2021, to $6.6 million.
Early Wyre Backer Launches $200M Fund for ‘Mid-Growth’ Crypto
Blockchain Coinvestors, a blockchain investment firm with more than $450 million in assets under management (AUM), has launched a $200 million mid-stage growth fund providing exposure to emerging blockchain companies, a source close to the firm told CoinDesk.
The new “Blockchain Coinvestors VI (Mid Stage Growth)” will invest in 20 to 30 projects with “attractive return profiles and visible paths to liquidity,” according to the newsletter. The mid-stage nature of the funds means backing Series B, C and D funding rounds.
The firm also has a Nasdaq-listed SPAC called Blockchain Coinvestors Acquisition I (NASDAQ:BCSA) that’s targeting blockchain-enabled businesses. The SPAC raised $261 million in its November initial public offering.
READOfferpad Earnings Continue To Set Records
Offerpad (NYSE:OPAD), the digital platform for buying and selling homes, posted its “best quarter in company history,” Brian Bair, Offerpad Solutions Inc. chairman and CEO, said Wednesday evening during a conference call with analysts. Revenue in the first quarter totaled $1.37 billion, a 384% increase from the first quarter last year, and the company sold a record 3,602 homes in the quarter, a 254% increase from the 1,018 homes it sold a year earlier.
Offerpad went public via a publicly traded SPAC by merging with Supernova Partners Acquisition Co., owned by former Zillow CEO and co-founder Spencer Rascoff.
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Nabors Energy Transition Corp. (NYSE:NETC) announced this morning that Vast has added an equity commitment of up to $10 million to its combination with concentrated solar power producer Vast. The new commitment comes at $10.20 per share from the Canberra Airport Group and half of it is to come up front at close. A further...
M3-Brigade III (NYSE:MBSC) announced this morning that it has closed its combination with Canadian energy producer Greenfire and the combined company is expected to trade on the NYSE under the symbol “GFR” later today. Concurrent with close, Greenfire also issued $300 million in new senior secured notes at a 2% discount, priced at $980 per...
Murphy Canyon Acquisition Corp. (NASDAQ:MURF) announced this afternoon that its stockholders voted in favor of the proposed business combination with Conduit Pharmaceuticals Limited (“Conduit”). Details on the vote, along with redemption numbers, have not been filed yet, but the Company expects the closing to occur as soon as practicable, subject to the satisfaction or waiver...
Latest SPAC Liquidations: Juniper II Corp. Juniper II Corp. (JUN) to Liquidate on October 10, 2023 Juniper II Corp. (NYSE: JUN), today announced that its board of directors has determined to redeem all of its outstanding shares of Class A common stock with such redemption anticipated to be effective as of October 10, 2023. The...
TradeUP (NASDAQ:UPTD) announced in an 8-K this afternoon that has entered into additional subscription agreements in connection with its combination with Estrella Biopharma. Under these subscription agreements, Plentiful Limited and Lianhe World Limited, collectively known as the “Investors”, agreed to each buy $5,000,000 worth of UPTD’s common stock, priced at $10.00 per share. However, if,...