Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Tims China extends retail distribution partnership with Alibaba’s Freshippo, Anghami reduces headcount by 22%, and Grindr shares soar 400% after SPAC merger
Tims China extends RTD reach with Alibaba’s Freshippo
Tims China (NASDAQ:THCH) has announced a two-year ready-to-drink (RTD) retail distribution partnership with Chinese grocery chain Freshippo.
Launched in 2015 by Chinese e-commerce company Alibaba Group, Freshippo currently operates more than 300 retail stores across China. The partnership will see Freshippo introduce co-branded Tims China coffee products online and via its bricks-and-mortar stores from December 2022.
In September 2022 the Chinese operator of Canadian coffee chain Tim Hortons completed its merger with special purpose acquisition company Silver Crest.
READSpotify rival Anghami reduces headcount by 22% as part of ‘sustained focus on profitability’
A wave of layoffs has started to bite in the global music business, mirroring a trend in the wider technology sector.
In August, SoundCloud started the process of reducing its global workforce by approximately 20%, blaming a “challenging economic climate”. Now, as rumors swirl that Spotify is mulling a takeover bid for it’s MENA-focused rival Anghami (NASDAQ:ANGH), the latter company has revealed that it’s cut nearly a quarter of its own headcount. Twenty two percent of Anghami’s staff are losing their jobs.
Anghami revealed the news about reducing its headcount within its preliminary unaudited Q3 results, which were filed on Tuesday (November 15).
READGrindr Shares Soar After SPAC Merger
Shares of Grindr Inc. (NYSE:GRND) surged more than 400% to nearly $60 in morning trading after the LGBTQ-focused social network and dating app completed its merger with special-purpose acquisition company Tiga Acquisition Corp.
Nearly all of the SPAC investors pulled their money out of the deal, as has become common for such mergers recently. That left few shares trading publicly, setting the stage for today’s jump.
New financing could quicken pace of NioCorp niobium mine project
NioCorp, the Colorado-based company hoping to dig a Niobium mine in southeast Nebraska, visited there to assure area residents a new financing opportunity may speed up the development of the long-delayed project.
In September, the company merged with GX Acquisition II (NASDAQ:GXII), a special purpose acquisition company, hoping to move NioCorp onto the NASDAQ stock exchange and attract needed investment. The deal made an estimated $285 Million available to advance additional development of the Elk Creek Mine.
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Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...
M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...
At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...