Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Comcast dumps 18.5% of its BuzzFeed stock
Comcast Dumps 6 Million Shares of Buzzfeed After Media Company Finally Gets a Bump
Comcast dumped 18.5% of its BuzzFeed (NASDAQ:BZFD) stock in recent days, reducing its holdings in the online media company to just under 20% of the shares.
Comcast said its NBCUniversal unit netted almost $15.7 million in sales of 5.7 million shares since Monday in a regulatory filing.
In 2015, NBCUniversal invested $200 million in BuzzFeed and had plans to distribute its content on the digital news site. In the filing, NBCUniversal said it still owns more than 25 million shares, or 19.97% of BuzzFeed’s outstanding stock, but said it may continue selling.
BuzzFeed completed its merger with 890 5th Avenue Partners in December 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...