Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Eni adds six banks for IPO of $11 billion renewables unit, DWAC surges after Truth Social launch, and Gulf Capital considers SPAC with Abu Dhabi listing
Eni Adds Six Banks for IPO of $11 Billion Renewables Unit
Eni SpA has picked six more banks to work on the IPO of its retail and renewables unit Plenitude, which could be valued at about 10 billion euros ($11.3 billion).
The Italian energy giant has hired Barclays Plc, Bank of America Corp., BNP Paribas SA, Deutsche Bank AG, Equita Group SpA and UniCredit SpA as bookrunners for the Milan IPO, which could kick off as soon as May.
Eni SpA announced earlier this month that it is considering listing a SPAC that could target energy-transition businesses.
READTrump-Linked SPAC’s Shares Surge After Truth Social App Tops Apple Downloads
Shares of Digital World Acquisition Corp (NASDAQ:DWAC), the blank-check company behind former U.S. President Donald Trump’s new social media venture, Truth Social, surged nearly 30% in premarket trading on Tuesday as the app climbed the charts after its debut on Apple’s App Store.
Digital World’s shares jumped 26% to $106.44 and were on track to open at levels last seen in October, days after Digital World announced a deal to publicly list Trump Media & Technology Group (TMTG), the venture behind Truth Social.
READGulf Capital Considering SPAC With Abu Dhabi Listing
Abu Dhabi asset manager Gulf Capital is considering setting up a SPAC that will list on the Abu Dhabi Securities Exchange.
Gulf Capital, which manages about $2.5 billion in assets, is working with boutique advisory Moelis & Co on the potential transaction.
READDonald Trump’s New Social Media App Shows Errors on Launch Day
Donald Trump’s new social media network, Truth Social, got off to a rocky start on its launch day, with some users being unable to register and others receiving error messages.
Trump Media & Technology Group, which aims to take on big tech companies with offerings from social media to streaming, launched Truth Social to give the former U.S. President a platform after he was banned from Twitter and Facebook.
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At the SPAC of Dawn As a rough week in the market comes to a close, at least one de-SPAC has some cause to show off. Many fashion brands were among the hard hit in recent days and not simply for macro reasons. Luis Vuitton-owner LVMH (PA:MC) dropped this week after an earnings miss led...
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...