Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Bitdeer debuts fund targeting distressed miners, Harley-Davidson EV unit LiveWire’s shares rise 24%
Crypto Tycoon’s Bitdeer Debuts Fund Targeting Distressed Miners
Chinese crypto billionaire Jihan Wu is setting up a $250 million fund to buy distressed assets from Bitcoin miners, as the industry reels from this year’s steep drop in digital-asset prices.
Wu’s Bitdeer Technologies Holding Co. plans to invest $50 million as part of a junior tranche, meaning the firm’s investment will be first at risk if the fund loses money. It aims to raise another $200 million from outside investors such as family offices, venture capital firms, alternative investment funds and other mining companies, a representative from Bitdeer told Bloomberg News.
Singapore-based Bitdeer has emerged as a major Bitcoin miner, with facilities across the US and Norway. Last November, the firm filed with the US Securities and Exchange Commission to go public through a $4 billion business combination with Blue Safari (NASDAQ:BSGA), which was originally set to be completed on June 14. The deal has since been pushed back, with Bitdeer filing this month for a second extension that would delay the closing until Dec. 14.
READHarley EV unit LiveWire’s shares jump in debut after $1.8 bln SPAC merger
Shares of LiveWire, the electric motorcycle subsidiary of Harley-Davidson Inc (NYSE:HOG), jumped as much as 24% in their U.S. market debut on Tuesday following the unit’s $1.77 billion merger with a blank-check firm.
The backdoor listing makes LiveWire as the first and only EV motorcycle company in the United States to debut on the New York Stock Exchange. Last year, the EV unit agreed to merge with special purpose acquisition company AEA-Bridges Impact Corp.
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Cohen Circle Acquisition Corp. II (NASDAQ:CCIIU) announced the pricing of its $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CCIIU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company in the financial services technology (fintech) sector and fintech adjacent sectors that...
Indigo Acquisition Corp. (NASDAQ:INACU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “INACU”, Tuesday, July 1, 2025. The new SPAC plans to combine with an established, profitable company whose growth potential can benefit from its team’s expertise. Indigo’s management team is...
After a quiet June, July is set to be active throughout the month with nine de-SPACs and sponsors coming unlocked from their trading restrictions. This timing is most fortuitous for insurance investor Abacus Life (NASDAQ:ABL) and East Resources, which took it public in 2023, as it is the best performer of this group of companies...
Pyrophyte II (NYSE:PAII.U) has filed for a $175 million SPAC to dig for a natural resources target while the team’s first deal remains pending. The new SPAC is offering investors 1/2 warrants in each unit and it will have 24 months to complete a business combination without asking shareholders for an extension. It is the...
At the SPAC of Dawn The last day of the quarter is to play host to a pair of shareholder votes and a possible pricing of Indigo‘s (NASDAQ:INACU) $100 million IPO. This week is also to play host to fresh jobs numbers just before the long July 4 weekend. Black Hawk (NASDAQ:BKHA) was also one...