Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Singapore sees more US-listed Chinese firms coming to its shores, Packable begins liquidating and announces job cuts, and Gel Blaster to use Nogin’s SmartShip program
Singapore Sees More US-Listed Chinese Firms Coming to Its Shores
Singapore Exchange Ltd. sees more listings in coming months by Chinese issuers that already trade American depository receipts, even as it grapples with delayed deals amid a global valuation slump.
Following Nio Inc.’s technical listing in May, investors can expect others will follow suit, Chief Executive Officer Loh Boon Chye said in an interview. If market conditions are supportive for the rest of the exchange’s fiscal year through June, “there would be fund-raising, but if they are not as conducive, it will be a technical secondary listing,” he added.
Potential SPACs are waiting to see mergers conducted by the first wave of blank-check companies in Singapore to see how the process unfolds, Loh said.READ
Top Amazon seller Packable begins liquidating and announces job cuts after failed SPAC attempt
About a year ago, online retailer Packable was preparing to go public through a special purpose acquisition company. With the SPAC market having evaporated and the economy now sputtering, Packable is laying off staff and preparing to liquidate, according to internal documents reviewed by CNBC.
Packable is the parent company of Pharmapacks, an online seller of health, personal care and beauty products. Pharmapacks was founded in 2010 as a single brick-and-mortar pharmacy in the Bronx, New York, before it turned to the internet and established a big home on Amazon.
Highland Transcend Partners I Corp. (NYSE:HTPA) mutually terminated its combination with ecommerce service provider Packable on March 25, 2022.READ
Gel Blaster to Use Nogin’s SmartShip Program
Gel Blaster, the exclusive provider of advanced backyard battle blasters with clean-up technology, has upgraded its online store fulfillment with the SmartShip program delivered by Nogin (NASDAQ:NOGN), a leading provider of innovative Commerce-as-a-Service (“CaaS”) technology.
Software Acquisition Group III recently announced that its shareholders approved its combination with software firm Nogin at a special meeting held on August 22.READ
Terms Tracker for the Week Ending January 27, 2022 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re coming up on the end of January, the first month of the year, and to-date no new S-1s have been filed. Additionally, the number...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Circle spokesperson denies blaming SEC for failed deal, BuzzFeed CEO says AI-powered content will be part of core business, and FaZe Clan faces possible delisting Circle Spokesperson Denies Blaming SEC for Failed $9 Billion Deal...
Health Sciences 2 (NASDAQ:HSAQ) announced that it closed its combination with Orchestra BioMed on January 26. HSAQ ahead of its vote pre-announced redemption figures of 1,597,888 shares equating to 67.7% redemptions, however, that’s still subject to change. However, today it was noted that Orchestra BioMed is to receive $70 million in gross proceeds including $20...
Carbon capture technology has long been talked about, and it is finally in operation with LanzaTech among the pioneers. Its plants are turning potential emissions into clothing, household goods and sustainable fuels. SPAC cash is now also an accelerant in this new process as the company announced a $1.7 billion combination with AMCI II last March. This week, we caught up with...
In this series we’ll be examining successful SPAC deals from the past both in the terms and circumstances of their de-SPAC processes and how they have weathered the storms that have followed after their public listings with research from SPACInsider contributor Anthony Sozzi. Thirty months does not sound like that long, but it’s been a...