Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Post-SPAC space firms redoubling efforts to attract institutional investor
Three space companies that went public two years ago are seeking ways to build credibility with large institutional investors that have started dipping toes into the deflated market.
Launch vehicle and spacecraft developer Rocket Lab, space technology provider Redwire, and Earth observation operator BlackSky started trading shares within weeks of each other after their 2021 merger with a special purpose acquisition company (SPAC), a financial tool offering a fast-track to stock markets. […]
Redwire’s Baliff also highlighted current confusion among investors over which companies will survive the downturn and those with business models that work.
Generally, if a company listed at $10 and is now trading at $5, “you’re kind of viewed as a survivor,” he said, “you’re going to make it. If you’re below $1 … it’s teetering on investors being able to just give you any capital, and between one and five, you know, it just depends on the day.”
READVista Equity Reportedly Shopping Genius Sports Competitor
Citing unidentified sources with knowledge of the matter, Bloomberg reported the news earlier Thursday. It’s not clear what Vista Equity’s timeline is for divesting Stats Perform nor were potential suitors or sales prices mentioned. The company uses artificial intelligence (AI) and other technologies to provide sports-related data to media and gaming companies, among other clients.
Vista acquired Stats in 2014 from FOX Sports and the Associated Press. It was merged with Perform in 2019 after Texas-based Vista invested in DAZN. Through that deal, the buyer gained access to Opta, RunningBall and Watch&Bet.
Competitors include Genius Sports (NYSE:GENI) and Sportradar (NASDAQ:SRAD), which have market values of $1.25 billion and $3.20 billion, respectively. It remains to be seen if that range provides some template for Stats Perform’s ultimate sale price. Genius Sports went public in a merger with dMY II in April 2021.
READLatest SPAC Liquidations: Schultze Special Purpose Acquisition Corp. II Schultze Special Purpose Acquisition Corp. II (SAMA) to Liquidate on October 11, 2023 Schultze Special Purpose Acquisition Corp. II (Nasdaq: SAMA), announced that it will redeem all of the outstanding shares of its Class A common stock effective as of October 11, 2023. The Company expects...
Mercato Partners Acquisition Corporation (NASDAQ:MPRA) announced this afternoon via 8-K that its shareholders have approved its combination with Nuvini at a special meeting held earlier today. With 79.74% of the voting power of the Common Stock participating in the vote, the combination was overwhelmingly approved. 7,975,698 shares were recorded voting for the transaction, while only 38,008...
Home Plate Acquisition Corporation (NASDAQ:HPLT) announced that it adjourned this morning’s extension vote without conducting any business and it will pick things up again at 11 am ET October 2. Shareholders at the meeting are to consider giving Home Plate an extra two and half months to complete a deal, moving its deadline from October...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Law firm Schulte sues SPAC over fees from failed Philippine casino merger U.S. law firm Schulte Roth & Zabel is suing its former client 26 Capital Acquisition Corp to recover more than $1.9 million in legal fees...
Fortune Rise Acquisition Corp. (NASDAQ:FRLA) announced this morning that it has changed the target of its letter of intent to combine, but only partially. The SPAC had an existing LOI to merge with its own sponsor, but since that sponsor is now a subsidiary of another company it has to combine with a different version...