Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Planet Labs CFO says SPAC IPO was key to growth, Jupiter Wellness announces $4.1M registered direct and private placement, and Zapp expands international footprint with new campus in Thailand
Planet Labs Finance Chief Says SPAC IPO Was Key to Recent Growth
Ashley Johnson, chief financial officer for Planet Labs PBC (NYSE: PL), said the satellite-imaging company made the right call to go public by combining with a special-purpose acquisition company—better known as a SPAC.
The boom of listings using SPACs, where a privately held firm combines with a public blank check company to allow the private company’s share to trade publicly, has fizzled amid the broader market downturn. SPAC mergers, which attracted many private companies in 2020 and 2021 for their speed and lower scrutiny than traditional initial public offerings, have all but vanished over the past year.
READJupiter Wellness Announces $4.1 Million Registered Direct and Private Placement
Jupiter Wellness, Inc. (Nasdaq:JUPW), a wellness company focused on hair, skin, and sexual wellness, today announced that it has entered into a definitive agreement with investors for the purchase and sale of 4,315,786 shares in a registered direct offering. In a concurrent private placement, the Company also agreed to issue to the same investors a total of 8,631,572 warrants to purchase up to one share of common stock each at an exercise price of $1.00 per share.
The private placement warrants will be exercisable beginning six months after issuance. 4,315,786 warrants will have a 3-year term from the initial exercise date and 4,315,786 warrants will have a 5-year term from the initial exercise date. The purchase price of one share, one 3-year warrant and one 5-year warrant is $0.95. The aggregate gross proceeds to the Company of both transactions are expected to be approximately $4.1 million. The transactions are expected to close on or about January 23, 2022, subject to the satisfaction of customary closing conditions.
READZapp Expands International Footprint With New Design and Technology Campus in Bangkok, Thailand
Zapp Electric Vehicles Limited, a UK-based high-performance two-wheel electric vehicle company, has expanded its international footprint as part of its strategy to grow its business and fulfill growing demand in the largely underpenetrated electric two-wheel market.
On November 22, 2022, Zapp and CIIG Capital Partners II, Inc., a U.S. publicly-listed blank check company (Nasdaq: CIIG), announced that they have entered into a definitive merger agreement.
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Terms Tracker for the Week Ending July 3, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re heading into the July 4th holiday, so we’ll keep this week’s column short and to the point. But before you head to the beach,...
Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....