Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Traveloka to raise up to $400 million, Citadel alumni team up with JDS’s Stern for new blank-check firm, and Roivant aborts plans to buy back its own SPAC
Traveloka in Talks to Raise Up to $400 Million for SPAC Deal
Indonesia’s Traveloka is in talks with potential investors to raise as much as $400 million as part of its plan to go public through merging with a SPAC backed by Richard Li and Peter Thiel.
The PIPE would be part of a deal to merge the Jakarta-based online travel startup with Bridgetown Holdings Ltd. as soon as this year, said Bloomberg. The merger is set to value the combined entity at about $5 billion.
Citadel Alumni Team Up With JDS’s Stern for New Blank-Check Firm
A pair of former Citadel credit analysts are teaming up with real estate developer Michael Stern to launch a new SPAC, according to Bloomberg.
The blank-check company, dubbed Onyx Acquisition Co. I, has filed confidential paperwork with the SEC. It’s set to seek $200 million and plans to target companies in the general industrials and construction-technology sectors with an enterprise value of $1 billion to $2 billion.
READSPAC-on-SPAC Deal Falls Apart, And So Does Immunovant’s Stock
A private drugmaker aborted plans to buy back its own SPAC at a hefty premium, sending shares of Immunovant Inc. plunging to an all-time low.
The withdrawal by Roivant Sciences unwinds part of its plan to go public by selling itself to a SPAC, and then using the proceeds to reacquire full ownership of Immunovant, which it merged into another SPAC in 2019.
Immunovant’s stock, which topped $53 last year, closed 26% lower.
READGrab Loss Narrows on Food Delivery Ahead of SPAC Merger
Singapore’s Grab Holdings Inc., set to go public in the U.S. through a merger with a SPAC, reported a narrower loss for the first quarter as the pandemic boosted demand for food delivery.
The company’s net loss shrank to $652 million in the quarter ended March 31 from $771 million a year earlier, Southeast Asia’s most valuable startup said on Monday.
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Latest SPAC Liquidations: 26 Capital Acquisition Corp. 26 Capital Acquisition Corp.(ADER) to Liquidate on September 21, 2023 26 Capital Acquisition Corp. (Nasdaq: ADER), today announced that it will be unable to complete an initial business combination within the time period required due to the Delaware Court of Chancery’s decision denying 26 Capital’s request for an order...
LatAmGrowth SPAC (NASDAQ:LATG) announced in an 8-K that it adjourned its special meeting yesterday to liquidate early and will reconvene it at 2 pm ET September 28. The proposals on its ballot would have initiated the process of winding down the SPAC and returning all trust capital to investors outside of $100,000 for dissolution expenses....
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. JSE reviewing listing requirements with aim to simplify them The Johannesburg Stock Exchange will be reviewing all its listings requirements with the objective of further simplifying its requirements, as part of its ongoing efforts to create an...
Nabors Energy Transition Corp. (NYSE:NETC) announced this morning that Vast has added an equity commitment of up to $10 million to its combination with concentrated solar power producer Vast. The new commitment comes at $10.20 per share from the Canberra Airport Group and half of it is to come up front at close. A further...
M3-Brigade III (NYSE:MBSC) announced this morning that it has closed its combination with Canadian energy producer Greenfire and the combined company is expected to trade on the NYSE under the symbol “GFR” later today. Concurrent with close, Greenfire also issued $300 million in new senior secured notes at a 2% discount, priced at $980 per...