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.READ
Trump-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.READ
Gulf 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.READ
Donald 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.READ
Armada I (NASDAQ:AACI) announced this afternoon that it has once again postponed its extension vote. The SPAC initially planned to hold its special meeting on January 20, but postponed it to January 30, and will now be pushing it back until tomorrow, January 31. Armada has also extended the deadline for holders to submit their public...
Prime Impact I (NYSE:PIAI) has entered into a definitive agreement to combine with auto insurance firm Cheche at an enterprise value of $841 million, or about 2.3x its 2022 revenue. Beijing-based Cheche provides a digital insurance platform for car owners in China with about 34 million vehicles covered. The combined company is expected to trade...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Hambro Perks eyes merger with Biotech Istesso, Rocket Lab launches first vehicle from U.S. soil, and Alliance Entertainment signs licensing agreement with The Walt Disney Company Hambro Perks SPAC Eyes Merger With Biotech...
Pono Capital Corp. (NASDAQ:PONO) disclosed in an 8-K filing this morning that its shareholders approved its combination with air mobility company AERWINS at a special meeting held on Friday, January 27. Holders of 12,412,861 common shares were present at the meeting and the deal was approved with 11,218,712 shares in favor of the transaction. The filing did not...
European Biotech (NASDAQ:EBAC) announced in an 8-K this morning that it has increased its PIPE by $7.8 million and added $7 million to the convertible loans attached to the combination with biotech firm Oculis. The new PIPE cash comes at $10 per share and joins $63.3 million in existing PIPE financing for a total of...