Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: EO Charging raises new funds after SPAC deal collapses, Bridgetown Holdings weighs merger with Hyphen Group, and Graphjet receives awards from Frost & Sullivan
UK EV charging start-up raises new funds after SPAC collapse
EO Charging, a British electric vehicle charging company that works with companies such as Amazon, has agreed funding from investors including from the Middle East at a lower valuation than targeted under a failed Spac listing in New York.
EO was last year forced to walk away from a proposed $675mn deal to combine with First Reserve Sustainable Growth, a New York-listed special purpose acquisition company, after the market for Spac-backed flotations collapsed.
READThiel-Backed SPAC Weighs Merger With HK Fintech Hyphen, Sources Say
Bridgetown Holdings Ltd. (NASDAQ:BTWN), the US-listed blank-check company backed by billionaires Peter Thiel and Richard Li, is considering a merger with financial technology firm Hyphen Group.
A transaction could value the combined company at several hundred million dollars, the people said, asking not to be identified because the matter is private. Li is already among the Hong Kong-based Hyphen’s investors.
READNASDAQ-bound Graphjet Technology bags two awards from Frost & Sullivan
NASDAQ-bound Graphjet Technology Sdn Bhd (GTI), the world’s leading graphite and single-layer graphene producer, has recently been awarded the Prestigious 2023 Best Practices Awards by Frost & Sullivan.
GTI received the Frost & Sullivan 2023 Global Leadership Award and the 2023 Global Technology Innovation Leadership Award.
Currently, GTI is completing a business combination with Energem Corp. (NASDAQ:ENCPW), a SPAC.
READMirion Technologies Announces $150 Million Investment from T. Rowe Price, Priced At-the-Market
Mirion Technologies, Inc. (NYSE: MIR), a global provider of radiation detection, measurement, analysis and monitoring solutions to the medical, nuclear, defense, and research end markets, today announced that it has agreed to sell $150 million of shares of Class A common stock to certain funds and accounts advised by T. Rowe Price Investment Management, Inc., a global investment management organization.
Marion completed its business combination with GS Acquisition II in October 2021.
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Shepherd Ave Capital Acquisition Corp. (Nasdaq: SPHAU) is the latest SPAC to file to IPO, making 24 new registration statements that have filed since June 1, 2024. So far, only two of those 24 have gone public, but it does indicate an active August. In SPACLand at least, August is never slow. As for Shepherd...
At the SPAC of Dawn SPACs have now priced 20 IPOs seven months into 2024 with an eye on beating 2023’s total of 31 IPOs. With a little more than 5 months left in the year, it’s expected that SPACs should at least match that number by only needing to price roughly two IPOs per...
DT Cloud Star announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “DTSQU”, Thursday, July 25, 2024. The new SPAC aims to combine with an established business with long-term financial visibility, but has not limited itself to a particular industry or sector....
Launch Two (NASDAQ:LPBBU) has filed for a $200 million IPO that shows how the market has shifted for new issuance since its sister SPAC Launch One (NASDAQ:LPAAU) filed just over a month ago. Both SPACs are underwritten by Cantor Fitzgerald and seeking nominally the same raise at IPO, but Launch Two is overfunding its trust...
FTAC Emerald (NASDAQ:EMLD) has entered into a definitive agreement to combine with crypto fintech firm Fold at an enterprise value of $381 million. Phoenix, Arizona-based Fold provides digital banking services backed by a treasury of Bitcoin that includes FDIC-secured checking accounts as well Bitcoin trading and awards. The combined company is expected to trade on...