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.
READTrump 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.
READAl 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’.
READMENA 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.
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Cantor Equity Partners I (NASDAQ:CEPO) has entered into a definitive agreement to combine with Bitcoin Standard Treasury in a transaction that is worth about $4.8 billion. Bitcoin Standard Treasury aims to bring in capital from a number of equity instruments to build up one of the largest US-listed Bitcoin treasuries. The combined company is expected...
At the SPAC of Dawn Several de-SPACs have made market-moving announcements recently and they haven’t forgotten to cash in on them. Fresh off of announcing $500 million strategic investment and partnership with Apple (NASDAQ:AAPL), rare earth miner MP Materials (NYSE:MP) has followed that up with a $500 million public offering, netting the company a cool...
Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...
At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...
Solarius Capital Acquisition Corp. (NASDAQ:SOCAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SOCAU”, Wednesday, July 16, 2025. The new SPAC plans to combine with a target in the asset management, wealth management or financial services industries. Solarius Capital’s management team...