Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Conduit’s $1.2bn Nasdaq listing deals another blow to London
A British biopharmaceuticals business has completed a deal to list on Nasdaq, delivering a further blow to the London Stock Exchange which has struggled to persuade fast-growing companies to float in the UK.
Conduit Pharmaceuticals completed its merger with Murphy Canyon Acquisition Corp, a Nasdaq-listed special purpose acquisition company, after the US market closed on Friday. The deal placed a value of $1.2 billion on the business. The new combined company has been named Conduit Pharmaceuticals.
READWilson, Goodwin on Cheche Group’s de-SPAC merger, achieving NASDAQ listing
Cheche’s U.S. listing represents the first case of a VIE structure overseas listing project completed under the Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies. According to the China Securities Regulatory Commission (CSRC) website, Cheche received its approval on September 14. […]
Cheche Group, founded in 2014, aims to transform China’s auto insurance market and digitise the end-to-end insurance purchasing process in a transparent, universal, and efficient manner. Currently, Cheche has 130 service centres nationwide, with research and development centres located in Beijing and Guangzhou.
Terms Tracker for the Week Ending December 8, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Well that escalated quickly. While last week was quiet, this week was far busier. SPACs saw one IPO start trading after pricing on Friday of...
Mobiv Acquisition Corp. (NASDAQ:MOBV) announced this afternoon that it has closed its combination with EV motorcycle-maker SRIVARU. Shareholders originally approved the deal at a special meeting held back on September 28, but at that time, the parties expected the transaction to take just a week to close. Redemptions whittled Mobiv’s IPO share pool of 10,005,000 down...
Achari Ventures I (NASDAQ:AVHI) has entered into a definitive agreement to combine with medtech firm Vaso Corporation at an equity value of $176 million, or 19.5x its 2022 adjusted EBITDA. Wuxi, China-based Vaso provides IT services and sales support to medical device manufacturers. The combined company is expected to trade on the Nasdaq under the...
EF Hutton Acquisition Corp. I (NASDAQ:EFHT) announced this morning that its shareholders have approved its business combination with E.C.D. Auto Design. At the meeting, there were 5,089,203 shares of common stock, representing approximately 76.82% of the issued and outstanding shares of common stock, present. In connection with the meeting, the company’s stockholders holding 3,470,945 shares,...
Legato Merger Corp. III (NYSE:LEGT) filed for a $175 million IPO yesterday afternoon, becoming the fourth SPAC to file this week. While the other three SPACs that filed their S-1s earlier this week intend to pursue targets in the financial services and biotech industries, Legato III, similar to the earlier Legato SPACs, will focus on...