The Latest SPAC News and Rumors: October 2, 2023
by Nicholas Alan Clayton on 2023-10-02 at 11:28am

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


Shell company Vertex Tech to buy streaming platform in landmark deal for Singapore

Singapore’s Vertex Technology Acquisition Corp (VTAC) (VERT.SI) will buy live streaming platform 17LIVE Inc for up to S$925.1 million ($676 million), the special purpose acquisition company (SPAC) backed by state investor Temasek said on Monday.

The deal is the first purchase of a private company by a SPAC listed in the city-state since 2021 when the Singapore Exchange allowed SPACs, or shell firms, to float shares in a bid to position itself as a hub for this type of vehicle in Asia.


Bill Ackmans SPARC Initiative Unlocking the Potential of Social Media Platform X

In an exclusive interview with CNBC on October 2, 2023, renowned billionaire investor Bill Ackman expressed his enthusiasm for the significant improvements witnessed in the social media platform X. Ackman confidently stated that advertisers are highly likely to flock back to the platform, recognizing its enhanced features and capabilities. Moreover, he revealed his strong inclination towards striking a deal with X using his groundbreaking SPARC (Special Purpose Acquisition Company) initiative.

Excitingly, the innovative structure of Ackman’s SPARC has received the stamp of approval from U.S. regulators, paving the way for him to embark on a thrilling quest for potential collaborations and acquisitions. With this green light, Ackman is poised to navigate the market with his astute investment strategies and seize promising opportunities that align with his vision.

AERWINS Technologies Inc Explores Strategic Alternatives for NonCore Operations and Achieves Public Listing Milestone

AERWINS Technologies Inc., a leading player in the air mobility industry, has made an announcement regarding its non-core operations. The company is actively exploring strategic alternatives, such as the potential sale or disposal of assets, to streamline its focus on air mobility technologies.

In a significant move, AERWINS recently completed a reverse merger transaction with Pono Capital Corp., marking a major milestone for the company as it achieved a public listing. This transaction has valued AERWINS at an impressive $600 million, resulting in a projected combined pro forma equity value of approximately $750 million.

READ


GNOG founder Winter exits DraftKings role

Thomas Winter is stepping down from his role at DraftKings 18 months after it acquired the Golden Nugget Online Gaming (GNOG) business he founded. Winter was appointed general manager for igaming in North America at DraftKings following its acquisition of GNOG in May 2022. He previously led GNOG as president after launching the business in September 2013.

Before his time with GNOG, Winter was CEO and director of Betclic and Expekt within the Betclic Group. He also had spells with French online sports publishing business Media365 and global luxury group Kering.


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