Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Circle spokesperson denies blaming SEC for failed deal, BuzzFeed CEO says AI-powered content will be part of core business, and FaZe Clan faces possible delisting
Circle Spokesperson Denies Blaming SEC for Failed $9 Billion Deal
USD Coin (USDC) issuer Circle has rejected claims that it blames the United States Securities and Exchange Commission (SEC) for the failure of its $9 billion plan to go public in December, according to a spokeswoman for the company.
The representative of the stablecoin issuer was responding to an article that was published on January 25 in the Financial Times. The article characterised Circle as having “blamed” the securities regulator for its “derailed” listing by dragging its feet on the approval of a merger agreement. “Circle has not and does not blame the SEC for anything related to the mutual termination of our SPAC merger agreement with Concord,” the representative said.
READBuzzFeed CEO Says AI-Powered Content Creation Will Become ‘Part of Our Core Business’ in 2023
BuzzFeed (NASDAQ: BZFD), amid an economic downturn that last month led it to lay off 12% of its workforce, this year will increasingly rely on artificial-intelligence technology to help produce content, CEO Jonah Peretti said in an email to staff Thursday.
In 2023, “you’ll see AI-inspired content move from an R&D stage to part of our core business, enhancing the quiz experience, informing our brainstorming, and personalizing our content for our audience,” Peretti wrote.
READFaZe Clan faces possible delisting from the Nasdaq just 6 months after going public
FaZe Clan (NASDAQ:FAZE), the digital gaming-and-e-sports-content platform that went public just over six months ago with a valuation of $1 billion, is already trading well below a dollar per share, putting the company at risk of delisting by the Nasdaq exchange.
Face Holdings, the parent company of FaZe Clan, has seen its stock price fall from a high of $24.69 on August 30, 2022 to just 75 cents on Thursday.
At the SPAC of Dawn As a rough week in the market comes to a close, at least one de-SPAC has some cause to show off. Many fashion brands were among the hard hit in recent days and not simply for macro reasons. Luis Vuitton-owner LVMH (PA:MC) dropped this week after an earnings miss led...
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...