Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Hong Kong’s first SPAC wins exchange approval for IPO, Tomorrow.io enters agreement with NOAA, and Palihapitiya’s Social Capital leads $375M Palmetto round
Hong Kong’s First SPAC Is Said to Win Exchange Approval for IPO
A blank-check company backed by China Merchants Bank Co.’s overseas asset management arm has become the first to win approval for an initial public offering in Hong Kong.
Aquila Acquisition Corp. received the green light for a listing in the city on Thursday. The SPAC will seek to raise about $300 million in the offering.
READTomorrow.io and NOAA Enter Cooperative Research and Development Agreement
The Tomorrow Companies Inc., developer of a leading platform for global weather and climate security, today announced it has entered into a Cooperative Research and Development Agreement with the National Oceanic and Atmospheric Administration to analyze data to be provided by Tomorrow.io weather satellites, assess its impact on NOAA forecasts, and evaluate use of the data in NOAA’s weather models. Tomorrow.io plans to launch its first satellites starting in late 2022, with a full constellation expected to be in orbit by 2024.
In December, Tomorrow.io announced plans to list on Nasdaq through a merger with Pine Technology Acquisition Corp. (Nasdaq: PTOC).
READPalihapitiya’s Social Capital Leads $375 Million Palmetto Round
Social Capital invested about $220 million in the round, which closed last year. That’s the firm’s biggest single investment, Palihapitiya said in an interview Thursday. The fundraising values Palmetto at more than $1 billion, according to people familiar with the transaction.
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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...
DHC Acquisition Corp (NASDAQ:DHCA) announced that it is formally terminating its combination with conservative banking venture GloriFi. This was essentially a formality because the SPAC already announced in November that GloriFi had begun the process of winding down. The two sides announced their $1.7 billion combination in July. But, even at the time, public details...