Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Virgin Galactic appoints new top lawyer, Trump Media SPAC rises after investors approve merger deadline extension, and Al Maadeed to be first Qatari to list company on NYSE
Virgin Galactic, Preparing for Liftoff, Appoints New Top Lawyer
Virgin Galactic Holdings Inc. (NYSE:SPCE), a commercial spaceflight company backed by billionaire Richard Branson which combined with Social Capital Hedosophia Acquisition Corp., has named Sarah Kim its chief legal officer and corporate secretary.
Kim, who has been general counsel for the newly-merged Topgolf Callaway Brands Inc., will take on those roles as of Dec. 5, Virgin Galactic announced this week. She succeeds former legal chief Michelle Kley, who left Virgin Galactic in July.
READTrump Media SPAC Rises After Investors Approve Merger Deadline Extension
Shares of the SPAC attempting to take public Donald Trump’s social-media company rose more than 5% in afternoon trading after investors extended the deadline for the deal to be completed to September 2023.
The SPAC, Digital World Acquisition (NASDAQ:DWAC), had tried several times in recent weeks to secure the approval of 65% of its investors to extend the deadline, but was unable to do so until Tuesday.
READAl Maadeed first Qatari to list his company on NYSE
Alkuri Global Acquisition Corp, a publicly-traded special purpose acquisition company founded by a Qatari Sultan al-Maadeed, has listed its newly acquired Babylon Holdings Limited in the New York Stock Exchange.
This makes al-Maadeed the first Qatari and Gulf national to establish an American company to be listed on the American stock exchange. The Babylon Holdings Limited has been listed under the ticker symbol ‘BBLN’.
READMENA fintech hubs are channelling funds into the sector but need to keep momentum
The fintech sector in the Middle East and Africa Region (MENA) has already raised $1.73 billion in the first half of 2022, as per a report by global strategy consulting business Strategy&. In 2021, the sector raised $2.5 billion in funding.
The amount of fintech investment in the MENA region reached $448 million in 2021 across 108 transactions. There were also four fintech “exits”—the highest for a single year. A fintech exit includes IPOs, special purpose acquisition companies (SPACs), mergers, and acquisitions.
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At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...