Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Bitdeer debuts fund targeting distressed miners, Harley-Davidson EV unit LiveWire’s shares rise 24%
Crypto Tycoon’s Bitdeer Debuts Fund Targeting Distressed Miners
Chinese crypto billionaire Jihan Wu is setting up a $250 million fund to buy distressed assets from Bitcoin miners, as the industry reels from this year’s steep drop in digital-asset prices.
Wu’s Bitdeer Technologies Holding Co. plans to invest $50 million as part of a junior tranche, meaning the firm’s investment will be first at risk if the fund loses money. It aims to raise another $200 million from outside investors such as family offices, venture capital firms, alternative investment funds and other mining companies, a representative from Bitdeer told Bloomberg News.
Singapore-based Bitdeer has emerged as a major Bitcoin miner, with facilities across the US and Norway. Last November, the firm filed with the US Securities and Exchange Commission to go public through a $4 billion business combination with Blue Safari (NASDAQ:BSGA), which was originally set to be completed on June 14. The deal has since been pushed back, with Bitdeer filing this month for a second extension that would delay the closing until Dec. 14.
READHarley EV unit LiveWire’s shares jump in debut after $1.8 bln SPAC merger
Shares of LiveWire, the electric motorcycle subsidiary of Harley-Davidson Inc (NYSE:HOG), jumped as much as 24% in their U.S. market debut on Tuesday following the unit’s $1.77 billion merger with a blank-check firm.
The backdoor listing makes LiveWire as the first and only EV motorcycle company in the United States to debut on the New York Stock Exchange. Last year, the EV unit agreed to merge with special purpose acquisition company AEA-Bridges Impact Corp.
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Terms Tracker for the Week Ending December 2nd, 2022 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As we slide into December, and the holiday season, we recognized two new S-1 registration statements and zero IPOs. The two new S-1s consisted of...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC Liquidations: NightDragon, VectoIQ II, and Fortistar Sustainable Solutions Corp. Night Dragon Acquisition Corp. Will Redeem Its Public Shares and Will Not Consummate an Initial Business Combination NightDragon Acquisition Corp. (NASDAQ: NDAC) anticipates that the last trading day...
Lakeshore Acquisition I Corp. (NASDAQ:LAAA) disclosed this afternoon that its shareholders have approved its business combination with medical device company ProSomnus during a special meeting held earlier today. Approximately 92.4% of the votes cast at the meeting on the business combination proposal, representing approximately 80.5% of Lakeshore’s outstanding shares, voted to approve the deal. The SPAC disclosed...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Embark director Elaine Chao and others sued over SPAC merger, Alvotech switches CEO and takes COO from Teva, and Uber Freight and Aurora expand pilot Embark Director Elaine Chao, Others Sued Over SPAC...
SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among potential targets in the security industry. We look at why they are compelling and why each could be a fit for a blank-check merger. Security is on the market’s mind and is expected to grow at a CAGR...