Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Shell company Vertex Tech to buy streaming platform in landmark deal for Singapore
Singapore’s Vertex Technology Acquisition Corp (VTAC) (VERT.SI) will buy live streaming platform 17LIVE Inc for up to S$925.1 million ($676 million), the special purpose acquisition company (SPAC) backed by state investor Temasek said on Monday.
The deal is the first purchase of a private company by a SPAC listed in the city-state since 2021 when the Singapore Exchange allowed SPACs, or shell firms, to float shares in a bid to position itself as a hub for this type of vehicle in Asia.
Bill Ackmans SPARC Initiative Unlocking the Potential of Social Media Platform X
In an exclusive interview with CNBC on October 2, 2023, renowned billionaire investor Bill Ackman expressed his enthusiasm for the significant improvements witnessed in the social media platform X. Ackman confidently stated that advertisers are highly likely to flock back to the platform, recognizing its enhanced features and capabilities. Moreover, he revealed his strong inclination towards striking a deal with X using his groundbreaking SPARC (Special Purpose Acquisition Company) initiative.
Excitingly, the innovative structure of Ackman’s SPARC has received the stamp of approval from U.S. regulators, paving the way for him to embark on a thrilling quest for potential collaborations and acquisitions. With this green light, Ackman is poised to navigate the market with his astute investment strategies and seize promising opportunities that align with his vision.
AERWINS Technologies Inc Explores Strategic Alternatives for NonCore Operations and Achieves Public Listing Milestone
AERWINS Technologies Inc., a leading player in the air mobility industry, has made an announcement regarding its non-core operations. The company is actively exploring strategic alternatives, such as the potential sale or disposal of assets, to streamline its focus on air mobility technologies.
In a significant move, AERWINS recently completed a reverse merger transaction with Pono Capital Corp., marking a major milestone for the company as it achieved a public listing. This transaction has valued AERWINS at an impressive $600 million, resulting in a projected combined pro forma equity value of approximately $750 million.
GNOG founder Winter exits DraftKings role
Thomas Winter is stepping down from his role at DraftKings 18 months after it acquired the Golden Nugget Online Gaming (GNOG) business he founded. Winter was appointed general manager for igaming in North America at DraftKings following its acquisition of GNOG in May 2022. He previously led GNOG as president after launching the business in September 2013.
Before his time with GNOG, Winter was CEO and director of Betclic and Expekt within the Betclic Group. He also had spells with French online sports publishing business Media365 and global luxury group Kering.
Terms Tracker for the Week Ending December 1, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. For the most part, this was a quiet week for filings being that it followed the Thanksgiving holiday. Ideally, bankers, lawyers and teams got a...
Aimei Health Technology Co., Ltd (NASDAQ: AFJKU) announced the pricing of its $60 million IPO this evening. Its units are expected to begin trading on the Nasdaq under the symbol “AFJKU” on Monday, December 4, 2023. After the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to...
PROOF Acquisition Corp I (NYSE: PACI) announced this afternoon that it has closed its business combination with private aviation company Volato after shareholders approved the deal at a meeting on November 28. In total, including previous shareholder votes, shareholders opted to redeem an aggregate of 99.93% of PACI’s trust, leaving it with less than $215,000...
Adit EdTech (NYSE: ADEX) announced this morning that its shareholders have approved its business combination with bitcoin self-mining company Griid Infrastructure at a special meeting held yesterday, November 30. A total of 8,520,710 shares of common stock, representing approximately 95.7% of the outstanding shares entitled to vote, were present at the meeting, constituting a quorum...
At the SPAC of Dawn There had been hopes that this week would take one world conflict off the board, but combat has resumed in the Middle East as other eyes are likely to be fixed on new Fed comments today. The fighting in Gaza continues to not appear to have appreciable affects on the...