Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Ares considers raising $400M for new SPAC and electric air mobility division of AIRO and Kernel Group sign MOU with Blade India
Ares Considers New $400 Million SPAC Despite Market Lull
Ares Management Corp. (NYSE:ARES) is discussing raising $400 million for a new special purpose acquisition company, even as dealmaking by blank-check firms has lagged, according to people with knowledge of the matter.
In February 2021, Ares raised $1 billion for a blank-check firm, Ares Acquisition Corp. That vehicle, led by Chief Executive Officer David Kaplan, has agreed to merge with X Energy Reactor Co., a nuclear power technology firm.
READElectric Air Mobility Division of AIRO Group Holdings, Inc. and Kernel Group Holdings Announce MOU with Blade India
Fly Blade (India) Private Limited, a joint venture between Hunch Ventures and Blade Air Mobility, Inc., and Jaunt Air Mobility LLC, a subsidiary of AIRO Group Holdings, Inc., announced today they have signed a memorandum of understanding (“MOU”) aimed at launching electric vertical take-off and landing (eVTOL) aircraft operations in India and the subcontinent region by 2027. The MOU includes BLADE India’s intended acquisition of 150 Jaunt Journey aircraft, with an option to order another 100 aircraft to meet the projected demand over the next decade.
Kernel Group Holdings, Inc. (NASDAQ: KRNLU) has entered into a definitive business combination agreement with AIRO Group Holdings, Inc., a multi-faceted air mobility, autonomy & aerospace platform.
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Tracking SPACs and all of their various types of “corporate actions” can be challenging. After all, a SPAC can postpone, adjourn, extend, complete, liquidate early, do a tender offer, and in some cases, one SPAC do all of those actions within its lifespan. Naturally, this can be challenging to manage. More importantly, it can very...
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...
Avalon Acquisition Inc. (NASDAQ:AVAC) announced in an 8-K this morning that it has entered into a prepaid forward purchase agreement with RiverNorth SPAC Arbitrage Fund, the purchaser, as it works to close its combination with financial services firm The Beneficient Company, or Ben. As part of the agreement, RiverNorth agreed to effect certain purchases of shares...
Blue Ocean (NASDAQ:BOCN) has entered into a definitive agreement to combine with digital media company TNL Mediagene at a pre-money enterprise value of $275 million. TNL Mediagene holds the Japanese licenses for a number digital media properties as well as Taipei-based The News Lens. The combined company Is expected to trade on the Nasdaq once...
Priveterra Acquisition Corp. (NASDAQ:PMGM) announced in an 8-K this morning that it plans to adjourn its special meeting to approve its combination with AEON Biopharma from noon today to the same time June 9. The SPAC plans to use this time to further engage with its shareholders as the ballot includes a variety of additional...