Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Hyphen in talks to merge with Provident Acquisition Corp., SPAC promoters shun Chinese deals amid regulatory chill, and Rocket Lab acquires Advanced Solutions
Li-Backed Hyphen Said in Talks on $1 Billion Provident SPAC Deal
Hyphen Group, a financial technology firm backed by Hong Kong billionaire Richard Li, is in advanced talks to go public through a merger with blank-check company Provident Acquisition Corp. (NASDAQ:PAQC).
A transaction could value the combined company at about $1 billion and may include a PIPE of about $100 million.
READSPAC Promoters Shun Chinese Deals Amid Mounting Tensions
At least four SPACs have revised their IPO filings in recent months to remove China from their areas of interest. The changes come as the U.S. securities regulator demands volumes of disclosures on the risks of doing business in China, while Beijing authorities are scaring the market with their widening crackdown on corporate excesses.
READRocket Lab Acquires Space Software Company Advanced Solutions, Inc.
Rocket Lab USA, Inc. (NASDAQ: RKLB), a global leader in launch services and space systems, today announced it has completed the acquisition of Advanced Solutions, Inc. (ASI), a Colorado-based aerospace engineering firm delivering mission proven space software, mission simulation and test systems, and Guidance, Navigation, and Control (GNC) solutions, for $40 million plus the potential for an additional $5.5 million performance earnout based on CY 2021 results.
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Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
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...
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....
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...