Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Heard on the Street: VinFast’s SPAC Backers Are Backing Out
Even by the standards of electric-vehicle startups, the $40 billion market value of Vietnamese electric-vehicle startup VinFast is wild, following its combination with Black Spade last month.
The company reported results on Thursday. More interesting than the second-quarter numbers, though, was an update on the capital structure. The company last week filed documentation with the Securities and Exchange Commission to release lockup restrictions on 3.1% of its shares, worth about $1.25 billion at the current price. The shares were down 7% in morning trading.
Yubico SPAC Trading Offers Glimmer of Light to Swedish Listings
As Sweden’s first SPAC completed a deal, five months after announcing it and more than two years after launching, it may also give a small jolt to an otherwise dormant listings market, Bloomberg reports.
The Nordic country, which back in 2021 vied for the top spot as Europe’s hottest IPO market, has seen its listings scene grind to a halt as investors adjust to a world of surging financing costs.
ACQ Bure AB, one of Sweden’s few SPACs, merged Wednesday with cybersecurity firm Yubico AB at a valuation of $800 million. Yubico’s key product is the YubiKey, a physical key used to add a layer of security when logging in on websites or computers.
Maxeon to acquire shingled cell solar patents from Complete Solaria
Maxeon Solar Technologies says that it is acquiring Complete Solaria’s dealer channel operations, as well as its solar panel patent portfolio relating to shingled cell solar panel technology.
The shingled cell technology, originally developed by SunPower, is incorporated into Maxeon’s Performance line of solar modules. The 425 W modules use bifacial mono-PERC solar cells made on large-format eight-inch G12 wafers, and have an efficiency of 20.6%, according to Maxeon. Maxeon was spun off from SunPower in 2020, when both became separate entities. […]
According to Will Anderson, CEO of Complete Solaria, which combined with Freedom 1 in July, after the transaction is complete, the company plans to concentrate on it core systems segment.
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Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....
1RT Acquisition Corp. (NASDAQ:ONCHU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ONCHU”, Wednesday, July 2, 2025. The new SPAC plans to target company in the digital asset ecosystem involved in the creation, storage, exchange or management of such assets, whether...
D. Boral ARC Acquisition II Corp. (NASDAQ:ARBCU) has filed for a $250 million SPAC to give underwriter D. Boral a second in-house SPAC to pursue deals with. The new SPAC offers investors a 1/2 warrant and an initial 18-month time frame to complete a deal. D. Boral II’s sponsor may automatically extend this once by...
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...