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.READ
Trump 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.READ
Al 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’.READ
MENA 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.READ
Terms Tracker for the Week Ending January 27, 2022 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re coming up on the end of January, the first month of the year, and to-date no new S-1s have been filed. Additionally, the number...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Circle spokesperson denies blaming SEC for failed deal, BuzzFeed CEO says AI-powered content will be part of core business, and FaZe Clan faces possible delisting Circle Spokesperson Denies Blaming SEC for Failed $9 Billion Deal...
Health Sciences 2 (NASDAQ:HSAQ) announced that it closed its combination with Orchestra BioMed on January 26. HSAQ ahead of its vote pre-announced redemption figures of 1,597,888 shares equating to 67.7% redemptions, however, that’s still subject to change. However, today it was noted that Orchestra BioMed is to receive $70 million in gross proceeds including $20...
Carbon capture technology has long been talked about, and it is finally in operation with LanzaTech among the pioneers. Its plants are turning potential emissions into clothing, household goods and sustainable fuels. SPAC cash is now also an accelerant in this new process as the company announced a $1.7 billion combination with AMCI II last March. This week, we caught up with...
In this series we’ll be examining successful SPAC deals from the past both in the terms and circumstances of their de-SPAC processes and how they have weathered the storms that have followed after their public listings with research from SPACInsider contributor Anthony Sozzi. Thirty months does not sound like that long, but it’s been a...