Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Shares in Better claw back some lost ground, Ashington to acquire heart failure innovator Calon, and Logiq sees revenue growth ahead of merger
SoftBank-backed mortgage lender Better steady after bleak debut
Shares in Better Home & Finance Holding (NASDAQ:BETR) clawed back some lost ground in early trading on Friday, after the online mortgage lender plunged in a dismal debut a day earlier following a merger with a blank-check company.
The company’s shares climbed 7% to $1.23 by 09:40 a.m. ET on Friday. They had finished Thursday’s session down 93.4%.
Better planned to go public via a $6 billion special-purpose acquisition company merger with Aurora Acquisition Corp in 2021, but delayed the deal amid a U.S. Securities and Exchange Commission inquiry and multiple rounds of layoffs.
Ashington to acquire heart failure innovator Calon
London-listed Ashington Innovation PLC (LSE:ASHI) has entered a non-binding agreement to acquire 100% of the outstanding shares in Calon Cardio-Technology Limited, contingent upon the successful reverse takeover of Cell Therapy Limited (trading as Celixir) announced on 19 August.
Calon is a UK-based medical device company at the forefront of developing the Left Ventricular Assist Device (LVAD), a trademarked implantable heart pump known as Mini-VAD.
Ashington is a SPAC formed to acquire businesses in the wider technology sector.
Logiq sees revenue growth ahead of SPAC merger; eyes expansion and M&A opportunities
Logiq Inc. (NEO:LGIQ.AQN, OTCQX:LGIQ) reported a sizable increase in 2Q revenue ahead of its pending merger with ABRI SPAC I Inc. (NASDAQ:ASPA).
The New York-based firm reported revenue of approximately $4.86 million, a sequential increase of 37% and 47% higher compared to the same period in the previous year.
One key highlight was the transition of a major consumer product client, signed in November 2022, to Logiq’s programmatic advertising platform, which is expected to generate high-margin revenues, contingent upon a listing on a senior stock exchange.
Terms Tracker for the Week Ending September 22, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. SPACs finally saw two new S-1 filings this week, the first to file since August 24th. Hainan Sirius Acquisition Corp. filed first on Thursday and...
Latest SPAC Liquidations: LF Capital Acquisition Corp. II LF Capital Acquisition Corp. II (LFAC) to Liquidate on October 3, 2023 LF Capital Acquisition Corp. II (Nasdaq: LFAC), today announced that the directors of the Company have determined to dissolve and liquidate the Company. The redemption of the Public Shares is expected to be completed on...
Latest Non-Redemption Agreements: Yotta Acquisition Corp.,Live Oak Crestview Climate Acquisition Corp. Yotta Acquisition Corp. (YOTA) Adds Non-Redemption Agreements Yotta Acquisition Corp. (NASDAQ:YOTA) entered into non-redemption agreements with certain unaffiliated third parties in exchange for such third parties agreeing not to redeem an aggregate of 598,680 shares of the Company’s common stock. In exchange for the foregoing...
Twin Ridge (NYSE:TRCA) announced this afternoon that it plans to convene and then adjourn its extraordinary general meeting of its shareholders originally to be held on September 26 at 11:30 a.m., Eastern Time. Twin Ridge intends to hold the new meeting at 11:30 a.m., Eastern Time, on October 3, 2023. Additional details were not given as to...
Social Leverage Acquisition Corp I (Nasdaq: SLAC) and W3BCLOUD Holdings Inc. announced this afternoon that they have mutually agreed to terminate their business combination agreement. The reasons cited were once again “due to existing market conditions”, which most likely implies the current capital market conditions as well as the fact that W3BCLOUD works within the...