Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Byju skips payment on dollar loan and HNR affirms intent to purchase equity interests of Pogo Resources
High-Flying Indian Startup Byju’s Skips Payment on Dollar Loan
One of India’s best-known startups has skipped payment on a dollar loan, escalating a conflict with lenders that underscores the company’s mounting distress.
Byju’s, an education-technology company that provides services to more than 150 million students around the world, didn’t pay $40 million in interest due Monday on a $1.2 billion loan. The firm, led by former teacher Byju Raveendran, said in a statement that it has elected not to make further payments on the so-called term loan B and that it filed a complaint concerning the facility to the New York Supreme Court.
Byju’s had reached a valuation of $22 billion and had considered merging with a special-purpose acquisition company to go public last year.
READHNR Acquisition Corp Announces Affirmation of Intent To Purchase Equity Interests of Pogo Resources, LLC and Its Subsidiaries
HNR Acquisition (NYSE:HNRA) has affirmed its intent to purchase all equity interests in Pogo Resources, LLC and its subsidiary, LH Operating, LLC. Pogo has 100% interest in its only remaining asset, LH Operating LLC.
Earlier this year, HNRA agreed to purchase the equity interests in Pogo Resources and two affiliates for $120 million.
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At the SPAC of Dawn After a cheery string of good news indicators, futures remain green heading into the final trading session of the week. The final reading for consumer sentiments is to come at about 10 am, which will hopefully match the market’s recent mood. There is some time delay on this indicator, however,...
Inflection Point Acquisition Corp. III (NASDAQ:IPCXU) announced the pricing of its $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “IPCXU”, Friday, April 25, 2025. The new SPAC aims to combine with a disruptive technology company in North America or Europe that is customer-focused and adaptable to...
Crane Harbor Acquisition Corp. (NASDAQ:CHACU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CHACU”, Friday, April 25, 2025. The Company’s primary focus will be to identify companies in the technology, real assets, and energy sectors. Crane Harbor’s management team is led...
Flag Ship Acquisition Corporation (NASDAQ:FSHP) has entered into a definitive agreement to combine with Great Future under so far undisclosed terms. Transaction Overview Flag Ship has about $71.6 million in its current trust and has until September 20, 2025 to complete a business combination but may extend up to nine times for one month each...
At the SPAC of Dawn SPAC momentum has not waned amid the market rally as three more SPACs are angling to price their IPOs by this evening, adding to two others and went public earlier this week. This would bring April’s tally to nine SPAC IPOs after just three in March. It has not been...