Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: WeWork warns of possible bankruptcy, DoubleDragon considers Nasdaq SPAC listing for hotel arm, and Wheels Up gets fresh liquidity boost from Delta
WeWork shares sink after warning of bankruptcy risk
WeWork (NYSE:WE) warned of a possible bankruptcy in a stunning reversal of fortune for the shared workspace provider that four years ago was one of the world’s most prized startups with a valuation of $47 billion.
The SoftBank-backed company, valued at just $446.8 million as of last close, has been in turmoil ever since it filed its IPO paperwork in 2019 as investors pointed out governance issues involving its then founder-CEO Adam Neumann.
The company went public in 2021 through a SPAC merger after abandoning its IPO plans, but the struggles continued as investors doubted its business model while clients moved to hybrid work since the pandemic.
Philippines’ DoubleDragon considers Nasdaq SPAC listing for hotel arm
Philippine real estate company DoubleDragon Corp said on Tuesday it is considering listing its Singapore-registered unit Hotel101 Global on the U.S. Nasdaq via a merger with a SPAC.
DoubleDragon confirmed in response to a local media report that it was weighing the SPAC route as one option to accelerate the international expansion of hotel group Hotel101.
Private-Jet Firm Wheels Up Seeks Rescue Funding
Wheels Up Experience Inc. (NYSE:UP) just got a fresh liquidity boost from its largest shareholder, Delta Air Lines Inc. (NYSE: DAL).
The struggling concierge jet-service firm has been seeking new financing from investors as its cash dwindles, according to people with knowledge of the situation. It has been working with Jefferies Financial Group Inc. and Kirkland & Ellis to explore options, including asset sales and cost cutting, to improve profitability.
The New York-based company, which lets customers book private charter flights by the hour, has garnered big-name investors including former LVMH executives and the consumer-focused private equity firm L Catterton, but has reported losses in every quarter since it went public through a reverse merger with Aspirational Consumer Lifestyle Corp. in mid-2021.
eureKING to buy SCTbio, plans Paris-listed biotech firm
French SPAC eureKING on Wednesday said it would acquire full ownership of SCTbio with a view to creating a new biotech company, which will be listed in Paris.
eureKING said it will pay around 13.08 million euros ($14.35 million) for 67% of the share capital, on a fully diluted basis, of SCTbio, a pharma company specializing in the cell and gene-therapy field.


Cohen Circle Acquisition Corp. II (NASDAQ:CCIIU) announced the pricing of its $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CCIIU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company in the financial services technology (fintech) sector and fintech adjacent sectors that...
Indigo Acquisition Corp. (NASDAQ:INACU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “INACU”, Tuesday, July 1, 2025. The new SPAC plans to combine with an established, profitable company whose growth potential can benefit from its team’s expertise. Indigo’s management team is...
After a quiet June, July is set to be active throughout the month with nine de-SPACs and sponsors coming unlocked from their trading restrictions. This timing is most fortuitous for insurance investor Abacus Life (NASDAQ:ABL) and East Resources, which took it public in 2023, as it is the best performer of this group of companies...
Pyrophyte II (NYSE:PAII.U) has filed for a $175 million SPAC to dig for a natural resources target while the team’s first deal remains pending. The new SPAC is offering investors 1/2 warrants in each unit and it will have 24 months to complete a business combination without asking shareholders for an extension. It is the...
At the SPAC of Dawn The last day of the quarter is to play host to a pair of shareholder votes and a possible pricing of Indigo‘s (NASDAQ:INACU) $100 million IPO. This week is also to play host to fresh jobs numbers just before the long July 4 weekend. Black Hawk (NASDAQ:BKHA) was also one...