Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Scion of billionaire family says SPAC mergers are here to stay, Boxed and AEON launch software and services technology in Malaysia, and BuzzFeed reports 51% growth in revenue
Scion of Billionaire Family Says SPAC Mergers Are Here to Stay
Gaurav Burman, who hails from a billionaire Indian consumer-goods family, says the boom in blank-check company mergers may have eased, but don’t expect SPACs to go away.
“Obviously, there are a lot of SPACs out there looking for deals, and there’ve been some public and visible retreats,” Burman, 49, said in an interview with Bloomberg. But “sponsors that have a lot of credibility” will “be able to separate themselves from the pack.”
Jupiter Acquisition (NASDAQ:JAQCU), a SPAC co-founded by Burman, listed on the Nasdaq last month. While Burman acknowledges that he’s coming late to the party, he says his team is looking to build a long-term business, rather than just achieve a quick share-price pop.
READBoxed and AEON Announce Launch of myAEON2go Software and Services Technology in Malaysia
Boxed , an e-commerce grocery platform selling bulk consumables to households and businesses, and AEON CO, one of the largest retailers in Asia, today announced the launch of its end-to-end software and services platform in the Malaysian market with myAEON2go.
AEON will use Boxed’s proprietary e-commerce technology to power myAEON2go at over 40 locations for both in-store pick-up or on-demand grocery delivery.
Boxed initially announced its business combination with Seven Oaks Acquisition Corp. (Nasdaq: SVOK, SVOKU, SVOKW) on June 14.
READBuzzFeed Inc. Reports Results for Second Quarter and Six Months Ended June 30,2021
BuzzFeed, a leading tech-powered media company for digital content and commerce for millennial and Gen Z audiences, today announced results for the three and six months ended June 30, 2021.
In the second quarter of 2021, BuzzFeed’s revenues grew 51% over the corresponding period last year, driven by accelerating growth in advertising and commerce revenues. Adjusted EBITDA improved by $7.0 million to $5.6 million in Q2, primarily driven by continued growth in overall revenue.
890 5th Avenue (NASDAQ:ENFU) entered into a definitive agreement to combine with BuzzFeed on June 24.
READSEC’s Investor Advisory Committee to Consider Recommendations Regarding SPACs
In addition to Rule 10b5-1 plan recommendations, the SEC’s Investor Advisory Committee is slated to take up draft subcommittee recommendations regarding SPACs in a meeting today. The new SPAC recommendations address SPAC regulatory and investor protection issues that have been under scrutiny as a result of the proliferation of SPACs in 2020 and 2021.
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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...