Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: PlayStudios to acquire Branium for $70M, Aspiration CEO Cheren steps down as SPAC merger faces delay, and Southland awarded $243M contract
PlayStudios to acquire casual game developer Branium for at least $70M
Through the deal, PlayStudios (NASDAQ:MYPS) will add a number of popular casual games such as solitaire, sudoku and mahjong to its portfolio. The business added that the deal will more than double the number of average daily active users of its products.
The acquisition includes a $70m up-front cash payment, plus a further contingent consideration of undisclosed size, depending on the performance of Brainium between now and the end pf the year.
PlayStudios went public in June 2021, after agreeing to a deal with special purpose acquisition company Acies Acquisition Corporation to list on the Nasdaq Stock Exchange.
READAspiration CEO Cherny Stepping Down as SPAC Merger Faces a Delay
Andrei Cherny, the chief executive officer of financial-technology firm Aspiration, is stepping down from his post at the company he co-founded amid a delay in plans to merge with a special purpose acquisition company.
Olivia Albrecht, who joined earlier this year as the firm’s chief sustainability officer, is taking over as CEO, according to a person familiar with the matter who asked not to be identified discussing the move that hasn’t been announced publicly. Cherny didn’t immediately return a message for comment.
Cherny, who helped found the firm nine years ago, expedited a plan to step down given that a public listing through a merger with SPAC InterPrivate III Financial Partners Inc. (NYSE:IPVF).
READSouthland Awarded $243 Million Florida Department of Transportation US 19 Pinellas County Roadway Project
Southland Holdings, LLC, announced today that a subsidiary in its Transportation segment, Johnson Bros., has been awarded a $243 million contract to construct the US 19 Pinellas County roadway project for the Florida Department of Transportation (“FDOT”) in Clearwater, Florida.
The scope of work includes reconstructing US 19 into a six-lane, controlled access facility with frontage roads on both sides of the roadway. This project is expected to help ease traffic congestion for a community that has seen significant population growth in recent years. Construction is expected to begin in the fourth quarter of 2022.
On May 25th, 2022, Southland entered into an Agreement and Plan of Merger with publicly-traded Legato Merger Corp. II, a special purpose acquisition company (NASDAQ: LGTO).
Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...
Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...
This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...
At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...
Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...