The Latest SPAC News and Rumors: December 27, 2022
by Nicholas Alan Clayton on 2022-12-27 at 11:31am


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Wentworth appoints Larry Roth as Executive Chairman, James Murdoch and Uday Shankar veer away from SPACs

Wentworth Management names industry veteran Larry Roth as post-close Executive Chairman

Upon completion of the business combination, wealth management industry leader Larry Roth will become executive chairman of the newly created firm, named Binah. Current Wentworth President Craig Gould will serve as Binah’s CEO, and David Shane, industry veteran and former CFO with Sanctuary Wealth will become Binah’s CFO.

Mr. Roth has previously served as Chief Executive Officer of AIG Advisor Group and Chief Executive Officer of Cetera Financial Group, two of the largest independent wealth management enterprises in the country.

Wentworth announced a combination agreement with Kingswood Acquisition Corp. (OTCE: KWAC) in July. The parties expect to close the transaction in the first half of 2023. The news of Roth’s appointment was joined by the update that Kingswood has filed a new S-4 for the deal.


James Murdoch-Uday Shankar ditch SPAC route for their M&A ventures

Seven Islands Inc, a special purpose acquisition company (SPAC) sponsored by James Murdoch and former STAR India CEO, Uday Shankar, has decided to abandon its earlier plan to raise $300 million through an initial public offering (IPO) in the US.

Seven Islands will now make their investments through Bodhi Tree Systems.


Recent Posts
by Kristi Marvin on 2023-09-30 at 11:45am

Terms Tracker for the Week Ending September 29, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As September comes to a close, SPACs did not price any IPOs during the month with the most recent IPO (99 Acquisition Group) having priced...

by Kristi Marvin on 2023-09-29 at 5:48pm

Athena Consumer Acquisition Corp. (NYSE:ACAQ) announced this afternoon that its stockholders approved its combination with German EV-maker e.GO at a special meeting held earlier today. Additionally, Athena Consumer’s warrant proposal to convert all outstanding warrants to 0.175 shares in the combined company was also approved. A total of 884,880 shares of Athena Class A Common...

by Nicholas Alan Clayton on 2023-09-29 at 4:28pm

October is set to be a quiet month for lock-up expirations with only four de-SPACs and four sponsors now open to trade their shares for the first time. The first customer is Bitdeer Technologies. Its shareholders and the Blue Safari sponsor both stand to gain the most out of this group from moving some of...

by Nicholas Alan Clayton on 2023-09-29 at 3:51pm

Graf Acquisition Corp. IV (NYSE:GFOR) announced in an 8-K this afternoon that its shareholders approved its combination with NKGen Biotech at a special meeting September 25. A total of 3,386,528 shares were redeemed in connection with the vote, leaving Graf IV with about $27.6 million in the tank and a final redemption rate of 84.3%....

by Nicholas Alan Clayton on 2023-09-29 at 3:50pm

Anzu Special Acquisition Corp I (NASDAQ:ANZU) has closed its combination with Envoy Medical and its shares and warrants are to begin trading on the Nasdaq under the symbols “COCH” and “COCHW” on October 2. The SPAC secured shareholder approval on September 27 and still has not divulged redemption figures. But, it went into the vote...


Copyright © 2023 SPACInsider, Inc. All Rights Reserved