Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Byju’s delayed audit shows widening losses and ProSomnus announces availability of insurance reimbursement
Byju’s reports widening losses after prolonged audit delayed
Indian education provider Byju’s finally released audited financial statements after months of delay, but the disclosures are unlikely to resolve the swirl of controversy around the country’s most valuable startup.
The company reported a 13-fold widening in losses in the year through March 2021, with net losses swelling to 45.7 billion rupees ($575 million) as it boosted spending to bolster growth. Sales were little changed from the previous 12 months however, at 24.3 billion rupees.
The company’s plan to list in a US stock market through a merger with a special purpose acquisition company is “on complete pause” following a slump in technology valuations, founder Byju Raveendran said.
READProSomnus Announces Availability of Insurance Reimbursement for Oral Appliance Therapy Devices in Germany
ProSomnus, a pioneer in precision medical devices for the treatment of Obstructive Sleep Apnea (OSA), today announced that the ProSomnus EVOTM Sleep and Snore Device is now reimbursable by Germany’s public health insurance system.
In May 2022, ProSomnus entered a definitive merger agreement with Lakeshore Acquisition I Corp. (Nasdaq: LAAA), a special purpose acquisition company.
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Ribbon (NASDAQ:RIBB) has entered into a definitive agreement to combine with Japanese biotech firm DRC Medicine at a pro forma equity value of $422 million. Tokyo-based DRC Medicine manufactures reusable anti-bacterial and anti-allergen wearables and aims to go deeper into the medical device and pharmaceutical space. Transaction Overview Ribbon is expected to provide $50.4 million...
In June 2025, the SPAC market was marked by a notable rise in meeting delays, with adjournments and postponements playing a central role in extension activity, as sponsors navigated a more cautious market environment. Still, several SPACs secured shareholder approvals, and seven business combinations were completed during the month. At the same time, IPO issuance...
An In-Depth Look at SPAC Activity Through the Second Quarter & First Half 2025 Below is a summary of the first half of 2025 SPAC market. If you’d like a pdf copy, you can access the link HERE. Q2 kicked off in chaos. President Trump’s shifting and often contradictory tariff announcements sent markets reeling, driving...
At the SPAC of Dawn The market is set to be showered with new SPACs today as three more SPACs priced their IPOs overnight, bringing 2025’s total to 66, already surpassing the full-year total of 2024. After hours, Ribbon (NASDAQ:RIBB) also added a new SPAC deal to June’s tally just under the wire, bringing the...
NMP Acquisition Corp. (NASDAQ:NMPAU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “NMPAU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company that has a resilient business model with potential to scale up revenue. NMP’s management...