At the SPAC of Dawn
With the S&P 500 rolling into a two-month high on the back of positive inflation numbers, all hopes have to be for nothing too concerning coming out of a still-packed end of the week.
Multiple Fed officials are set to give remarks throughout the next two days and the financial markets will also be digesting industrial production figures, manufacturing capacity utilization and the home builder confidence index later today. Friday will bring further housing starts and building permits data before the attention is set to shift to retail next week.
Next Wednesday, the market will take a look at new jobless claims, durable goods orders and consumer sentiment but the real test will be the initial sales numbers coming out of Black Friday as the year-end holiday season kicks off. Walmart (NYSE:WMT) provided an early peek at the retail vibes this morning by beating its third quarter earnings and revenue expectations with a 5% sales increase.
Macy’s (NYSE:M) meanwhile, announced this morning that it saw sales drop 7% in the quarter but it improved margin and raised its guidance, providing more festive vibes for the 11 SPACs currently working to close combinations with consumer companies.
News and Rumors
- PR: The US Department of Energy has cleared Montana Technologies’ AirJoule device for harvesting drinkable water from the air, opening the door to it being incorporated into commercial HVAC systems. Montana Tecnologies announced a combination with Power & Digital II (NASDAQ:XPDB) in June that is expected to close in the fourth quarter.
- TechCrunch: Arrival (NASDAQ:ARVL) has secured a $50 million bridge loan on a 120-day term from Antara Capital and Highbridge Capital that it expects to tide it over to a sale of the company. It combined with CIIG in March 2021.
Liquidations
- Financial Strategies Acquisition Corp. (NASDAQ:FXCO) took the unusual step of declaring Chapter 11 bankruptcy despite having an announced deal with Austin Biosciences.
Scheduling Notes
- ShoulderUp Technology Acquisition Corp. (NYSE:SUAC) postponed its extension vote from 4:30 pm ET November 15 to 12:30 pm ET November 17.
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...