The Latest SPAC News and Rumors: June 6, 2023
by Marlena Haddad on 2023-06-06 at 11:34am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Byju skips payment on dollar loan and HNR affirms intent to purchase equity interests of Pogo Resources


High-Flying Indian Startup Byju’s Skips Payment on Dollar Loan

One of India’s best-known startups has skipped payment on a dollar loan, escalating a conflict with lenders that underscores the company’s mounting distress.

Byju’s, an education-technology company that provides services to more than 150 million students around the world, didn’t pay $40 million in interest due Monday on a $1.2 billion loan. The firm, led by former teacher Byju Raveendran, said in a statement that it has elected not to make further payments on the so-called term loan B and that it filed a complaint concerning the facility to the New York Supreme Court.

Byju’s had reached a valuation of $22 billion and had considered merging with a special-purpose acquisition company to go public last year.

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HNR Acquisition Corp Announces Affirmation of Intent To Purchase Equity Interests of Pogo Resources, LLC and Its Subsidiaries

HNR Acquisition (NYSE:HNRA) has affirmed its intent to purchase all equity interests in Pogo Resources, LLC and its subsidiary, LH Operating, LLC. Pogo has 100% interest in its only remaining asset, LH Operating LLC.

Earlier this year, HNRA agreed to purchase the equity interests in Pogo Resources and two affiliates for $120 million.

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The Latest SPAC News and Rumors: June 6, 2023
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by Nicholas Alan Clayton on 2025-07-01 at 7:47pm

Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....

by Nicholas Alan Clayton on 2025-07-01 at 7:19pm

1RT Acquisition Corp. (NASDAQ:ONCHU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ONCHU”, Wednesday, July 2, 2025. The new SPAC plans to target company in the digital asset ecosystem involved in the creation, storage, exchange or management of such assets, whether...

by Nicholas Alan Clayton on 2025-07-01 at 3:49pm

D. Boral ARC Acquisition II Corp. (NASDAQ:ARBCU) has filed for a $250 million SPAC to give underwriter D. Boral a second in-house SPAC to pursue deals with. The new SPAC offers investors a 1/2 warrant and an initial 18-month time frame to complete a deal. D. Boral II’s sponsor may automatically extend this once by...

by Nicholas Alan Clayton on 2025-07-01 at 11:33am

Ribbon (NASDAQ:RIBB) has entered into a definitive agreement to combine with Japanese biotech firm DRC Medicine at a pro forma equity value of $422 million. Tokyo-based DRC Medicine manufactures reusable anti-bacterial and anti-allergen wearables and aims to go deeper into the medical device and pharmaceutical space. Transaction Overview Ribbon is expected to provide $50.4 million...

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