Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Elizabeth Warren criticizes BC Partners’ plan to take PetSmart public and U.S. Air Force awards $19.3M contract to Tomorrow.io
Warren Admonishes BC Partners as It Weighs PetSmart SPAC Deal
Senator Elizabeth Warren criticized a reported plan to take BC Partners’ PetSmart public through a blank-check company, saying the deal heightens previous concerns about the retailer and the process.
BC Partners is mulling taking the pet supply retailer public through a SPAC backed by private-equity firm KKR & Co. in a deal valued at $14 billion including debt, Bloomberg reported last month.
READU.S. Air Force Awards $19.3 Million Contract to Tommorrow.io for Spaceborne Weather Data
Tomorrow.io, developer of a leading platform for global weather and climate security, has been awarded a $19.3 million contract from the U.S. Air Force (USAF) to develop a constellation of weather satellites that will provide the USAF with three-dimensional global weather and ocean data.
Tomorrow.io previously announced plans to list on Nasdaq through a merger with Pine Technology Acquisition Corp. (Nasdaq: PTOC). Upon closing, Tomorrow.io’s common stock and warrants are expected to trade on Nasdaq under the new ticker symbols “TMW” and “TMWW”.
READGraf Acquisition Corp. IV (NYSE:GFOR) announced in an 8-K this afternoon that it has come to a forward purchase agreement (FPA) with Meteora Capital Partners involving up to 2,500,000 shares for its combination with NKGen Biotech. Meteora is to purchase up to that amount on the open market prior to close, capped at 9.9% of...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Heard on the Street: VinFast’s SPAC Backers Are Backing Out Even by the standards of electric-vehicle startups, the $40 billion market value of Vietnamese electric-vehicle startup VinFast is wild, following its combination with Black Spade last month....
Murphy Canyon (NASDAQ:MURF) announced this morning that it has closed its combination with Conduit Pharmaceuticals and its shares and warrants are expected to begin trading on the Nasdaq under the symbols “CDT” and “CDTTW” on September 25. The company also closed a purchase of $20 million in Murphy Canyon units at close, which is to...
Indie Semiconductor (NASDAQ:INDI), which merged with Thunder Bridge II in June 2021, announced this morning that it has launched an exchange offer to convert each outstanding warrant to 0.285 Class A shares in the company. At Indie’s last closing price of $6.22, this is $1.77 of value each, although the stock has been rising since...
Atlantic Coastal II (NASDAQ:ACAB) has entered into a definitive agreement to combine with drug developer Abpro at a valuation of $725 million. Woburn, Massachusetts-based Abpro is advancing a series of drug candidates to potentially treat COVID, cancer and diabetic blindness. The combined company is expected to trade on the Nasdaq once the deal is completed...