SPACInsider Logo
The Latest SPAC News and Rumors: January 24, 2022
by Marlena Haddad on 2022-01-24 at 11:50am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Wynn Resorts looks to sell sports betting business, and UAE approves regulatory framework for SPACs 

Wynn Resorts Looks to Sell Online Sports Betting Biz at Steep Discount

Wynn Resorts (NASDAQ:WYNN) is looking to unload its online sports-betting business at a steep discount as the fledgling niche faces painful losses from stiff taxes and costly promotions needed to lure customers, according to The Post.

Just a few months ago, Wynn said it was scrapping plans it disclosed in May to merge Wynn Interactive with Bill Foley’s Austerlitz Acquisition Corporation (NYSE:AUS).

The Las Vegas-based casino giant is quietly shopping its Wynn Interactive unit, operator of the WynnBet online gaming app, and has slashed the asking price to $500 million after floating a $3 billion valuation less than a year ago.

READ

UAE Regulator Approves Gulf’s First SPAC Framework

The United Arab Emirates’ Securities and Commodities Authority (SCA) has approved a regulatory framework for SPACs, the first in the Gulf, the Abu Dhabi Media Office said on Monday.

The regulation also allows sponsors abroad to apply for approval to list their SPACs on the Abu Dhabi Securities Exchange (ADX), the office said.

READ

 

Recent Posts
by Nicholas Alan Clayton on 2023-01-30 at 12:07am

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...

by Marlena Haddad on 2023-01-30 at 11:42am

  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...

by Marlena Haddad on 2023-01-30 at 10:15am

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...

by Nicholas Alan Clayton on 2023-01-30 at 9:07am

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...

by Nicholas Alan Clayton on 2023-01-30 at 7:17am

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...

Privacy Policy|Terms Of Use
Copyright © 2022 SPACInsider, Inc. All Rights Reserved