Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Bitfufu among creditors of Sam Bankman-Fried’s FTX, tech startups shun Singapore and Hong Kong for U.S. SPACs, and City Council to introduce $10.1M incentives package for Paysafe
Bitmain-Backed Crypto Mining Company Among Creditors of Sam Bankman-Fried’s FTX
Singapore-based Bitfufu, backed by Chinese mining rig giant Bitmain, has filed claims for $11.7 million against crypto exchange FTX, which has revealed it owes more than $3 billion to its largest creditors as its bankruptcy process gets under way.
The claims were submitted by Bitfufu’s subsidiary Ethereal Tech last week, according to Kroll, a U.S. restructuring administration firm appointed by FTX. The company is among 13 unsecured creditors that has so far handed in claims against the collapsed crypto empire founded by former billionaire Sam Bankman-Fried.
Tech startups shun Singapore and Hong Kong for U.S. SPACs
Singapore and Hong Kong startups are sidestepping their home stock exchanges to merge with SPACs in the U.S., as fundraising vehicles in the Asian financial hubs have yielded little on their exit plans.
Information from financial data provider Refinitiv shows that at least nine Singapore and Hong Kong companies this year have announced plans to go public with SPACs listed in the U.S., despite the cities offering a number of these shell companies since the first quarter — none of which has merged successfully with a target business.
READCity Council to introduce $10.1 million incentives package for Paysafe headquarters
The Jacksonville City Council is expected to introduce legislation Nov. 22 that would award $10.1 million in cash grants to online payment provider Paysafe Ltd. (NYSE:PSFE) to bring its North American headquarters and 600 jobs to Northeast Florida.
The bill, filed Nov. 16 by Mayor Lenny Curry’s administration, includes an exhibit estimating the city’s incentives package for London-based Paysafe’s $51.5 project would have a negative return for taxpayers.
In March 2021, Paysafe merged with Foley Trasimene Acquisition Corp. II, a SPAC, that was founded by Fidelity National Financial Inc. Chairman Bill Foley.
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A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...
Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...