Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Global IPO market shows signs of life even as recession fears persist, and BuzzFeed to layoff 15% of employees
IPO Market Shows Signs of Life Even as Recession Fears Persist
The global market for initial public offerings is showing signs of life as a rebound in the stock market has emboldened companies to test investor appetite for new listings, particularly in Asia. But a full-fledged recovery looks distant.
Still, the outlook for IPOs in the US remains challenged. Only $4.1 billion has been raised for companies listing on US exchanges this year, with just three — Nextracker Inc., Atlas Energy Solutions Inc.and Enlight Renewable Energy Ltd. — accounting for a third of that amount.
In fact, outside that cluster and a dozen SPACs that have debuted this year, the vast majority of new listings would be qualified as penny stocks.
READBuzzFeed Lays Off 15% of Staff, Shuts Down News Division
In a move that brings to a close a pioneering era of online journalism, BuzzFeed (NASDAQ: BZFD) is shutting down its namesake news division. After beginning as a quirky digital upstart and rising to a Pulitzer Prize-winning operation, it ultimately fell prey to the punishing economics of digital publishing that has laid low many of its peers.
BuzzFeed completed its business combination with 890 5th Avenue Partners, Inc. in December 2021.
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At the SPAC of Dawn The SPAC world is set to get its newest member later today when Launch Two (NASDAQ:LPBBU) begins trading having priced its $200 million IPO overnight. The technology SPAC is the first to IPO this quarter and comes after the newfound SPAC issuance momentum appeared to throttle down slightly in September,...
Launch Two Acquisition Corp. announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “LPBBU”, Tuesday, October 8, 2024. The new SPAC’s primary search focus will be on technology and software infrastructure companies whose products and services target financial services, real estate and...
Oaktree III Life Sciences (NASDAQ:OACCU) has filed for a $175 million SPAC with some of the most aggressively team-friendly terms seen so far in the second half of 2024. The new SPAC’s units contain 1/5 warrants and the trust is not set to be overfunded. Only the warrantless Cantor Equity Partners (NASDAQ:CEP) has IPO’d so...
At the SPAC of Dawn SPACs are set to have a sleepy start to their post-Rosh Hashanah week with no votes on the docket until Wednesday. Three SPACs are to hold extension votes that day and Clover Leaf (OTC:CLOE) will try again to close its combination with Kustom Entertainment after several adjournments on Friday. In...
Terms Tracker for the Week Ending October 4, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. This week was much, much heavier on the S-1 filings. There were five new SPACs filed along with six amended S-1 registration statements making good...