Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Shares in Better claw back some lost ground, Ashington to acquire heart failure innovator Calon, and Logiq sees revenue growth ahead of merger
SoftBank-backed mortgage lender Better steady after bleak debut
Shares in Better Home & Finance Holding (NASDAQ:BETR) clawed back some lost ground in early trading on Friday, after the online mortgage lender plunged in a dismal debut a day earlier following a merger with a blank-check company.
The company’s shares climbed 7% to $1.23 by 09:40 a.m. ET on Friday. They had finished Thursday’s session down 93.4%.
Better planned to go public via a $6 billion special-purpose acquisition company merger with Aurora Acquisition Corp in 2021, but delayed the deal amid a U.S. Securities and Exchange Commission inquiry and multiple rounds of layoffs.
Ashington to acquire heart failure innovator Calon
London-listed Ashington Innovation PLC (LSE:ASHI) has entered a non-binding agreement to acquire 100% of the outstanding shares in Calon Cardio-Technology Limited, contingent upon the successful reverse takeover of Cell Therapy Limited (trading as Celixir) announced on 19 August.
Calon is a UK-based medical device company at the forefront of developing the Left Ventricular Assist Device (LVAD), a trademarked implantable heart pump known as Mini-VAD.
Ashington is a SPAC formed to acquire businesses in the wider technology sector.
Logiq sees revenue growth ahead of SPAC merger; eyes expansion and M&A opportunities
Logiq Inc. (NEO:LGIQ.AQN, OTCQX:LGIQ) reported a sizable increase in 2Q revenue ahead of its pending merger with ABRI SPAC I Inc. (NASDAQ:ASPA).
The New York-based firm reported revenue of approximately $4.86 million, a sequential increase of 37% and 47% higher compared to the same period in the previous year.
One key highlight was the transition of a major consumer product client, signed in November 2022, to Logiq’s programmatic advertising platform, which is expected to generate high-margin revenues, contingent upon a listing on a senior stock exchange.
Dune Acquisition Corporation (NASDAQ:DUNE) announced in an 8-K today that it has once again modified its agreement with sustainable energy firm Global Hydrogen. This amendment marks a reduction in Global Hydrogen’s equity value from $48 million to $43 million, alongside an increase in the available shares of common stock that is for the Global Gas Corporation...
At the SPAC of Dawn After mixed signals for the consumer sector earlier this month, initial Black Friday sales numbers have shown that Americans were not too stuffed for a shopping spree this year. Shoppers bagged between $9.8 billion and $10 billion in goods online, depending on one’s preferred source, either of which would be...
Terms Tracker for the Week Ending November 24, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. This being the Thanksgiving holiday week, we are thankful for a lot of things, but mostly that 2023 is almost over. It’s been a rough...
At the SPAC of Dawn Though perhaps stuffed to the brim, SPAC activity continues this Thanksgiving Friday with votes by Clean Earth and Zalatoris to extend a deadline and amend trust contributions, respectively. At least seven de-SPACs are also reporting earnings today and will do so going into a futures market that is mostly green...
IB Acquisition Corp. submitted its S-1 filing Friday afternoon for a $100 million IPO, coming right on the heels of Bayview Acquisition Corp, which also filed its S-1 that day. IB is also similar to Bayview in that its units do not feature a warrant but include 1 right for 1/10. However, its trust is slightly...