Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Bitcoin ATMs convert software; Chinese autonomous yacht-maker eying SPAC deal; Circle circling back to growth; Oaktree investing in SPAC IPOs
Bitcoin Depot Completes Software Conversion to Bitaccess Across Full Bitcoin ATM Fleet
Lux Vending, LLC dba Bitcoin Depot, a U.S.-based Bitcoin ATM operator and leading fintech company, announced today that all of its roughly 7,000 kiosks have been converted to BitAccess Inc. software, the premier software suite for Bitcoin ATM operations.
On August 24, 2022, Bitcoin Depot and GSR II Meteora Acquisition Corp. (“GSRM”), a special purpose acquisition corporation, entered into a definitive agreement for a business combination that would result in Bitcoin Depot becoming a public company listed on the Nasdaq under the ticker symbol “BTM.”
READChinese Autonomous Yacht Ride Rental Company Said to Mull $1 Billion US SPAC Deal
Zero Degree New Energy Technology (Guangdong) Co., Ltd., an autonomous yacht manufacturer and ride operator, is mulling going public through a merger with a SPAC.
The Company expects it will be listed on Nasdaq around the first quarter of 2024 at the earliest, with an estimated valuation of US$1 billion (equivalent to approximately 67 billion CNY).
READCrypto Company Circle Focuses on Growth After Canceled SPAC Merger
Circle Internet Financial Ltd. wants to increase its workforce by as much as 25% this year, finance chief Jeremy Fox-Geen said, as the cryptocurrency operator pushes ahead with expansion despite its recently canceled deal to go public via Concord Acquisition Corp. and industry-wide layoffs.
Circle, which was founded in 2013, intends to make another bid to go public, though likely not this year, Mr. Fox-Geen said. It is waiting for better market conditions and more distance from the TerraUSD crash and the implosion of crypto exchange FTX so that public-market investors can re-evaluate the future of digital-assets businesses, he said.
READHoward Marks Loads Up on SPACs in 4th Quarter
In the fourth quarter of 2022, Howard Marks, billionaire investor and the founder of Oaktree Capital Management, loaded up on ~11 SPACs, many of which were newly formed in 2022. Oaktree Capital purchased 400,000 shares of Hainan Manaslu Acquisition Corp, which traded at an average price of $10.07 per share during the quarter, which is close to the starting floor price of the SPAC model (which is $10 per share).
Another SPAC Oaktree purchased was TenX Keane Acquisition. This SPAC went public in October 2022 and raised ~$66 million. This SPAC aims to focus on target businesses in Asia, but excluding mainland China.
READBM Acquisition Corp. (NASDAQ:BMOKU) has filed for a $60 million IPO to bring another first-time, Asia-based team to the market. The new SPAC is serving up 1/2 warrants in each of its units and the team will have 18 months under its initial search window to close a deal. It may extend this, but only...
At the SPAC of Dawn The Fed’s rate decision day has finally come and futures are slightly green in anticipation. De-SPACs have largely opted not to hedge their bets on the event with several making large-scale equity capital raises directly on its eve. Four companies alone raised over $1 billion in secondary offerings this week,...
Pioneer Acquisition I Corp. (NASDAQ:PACHU) announced the pricing of its $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “PACHU”, Wednesday, June 18, 2025. The new SPAC aims to combine with a target company in the healthcare sector, which could include medical device manufacturers, digital healthcare firms...
Axiom Intelligence Acquisition Corp. 1 (NASDAQ:AXINU) announced the pricing of its $175 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “AXINU”, Wednesday, June 18, 2025. The new SPAC plans to combine a European infrastructure target company potentially in the energy, digitization or transportation spheres. Axiom 1’s management...
Solarius Capital (NASDAQ:INACU) has filed for a $150 million IPO to seek out a financial services target with a team making its first step into SPACs. The new SPAC is offering investors a 1/2 warrant in each unit and it will overfund its trust to 100.5% with $10.05 per unit in the trust account from...