Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Bridgetown Holdings weighs merger with Circles.Life, Polestar eyes new funding after 1H sales double, and DayDayCook alters listing strategy
Thiel-Backed SPAC Weighs $2.5 Billion Circles.Life Deal
Bridgetown Holdings Ltd. (NASDAQ:BTWN), the US-listed blank-check company backed by billionaires Peter Thiel and Richard Li, is considering a potential merger with digital telecom services provider Circles.Life, according to people familiar with the matter.
The special purpose acquisition company is holding early talks with Singapore-based Circles.Life to explore a transaction, the people said, asking not to be identified because the matter is private. Bridgetown could seek a valuation for the combined entity of about $1.5 billion to $2.5 billion, the people said.READ
EV Maker Polestar Looking For New Funds After First-Half Sales Jump 125%
Electric-vehicle maker Polestar Automotive Holding (NASDAQ:PSNY) is weighing a range of options to finance its expansion after sales more than doubled in the first half of this year.
The Swedish company, which listed in New York in June through a merger with Gores Guggenheim, delivered 21,200 cars in the first six months of 2022, a 125% increase from the same period last year, the EV maker said Wednesday in a statement.READ
DayDayCook Alters Strategy to Achieve Nasdaq Listing; Announced New Funding Round ahead of IPO
DayDayCook (“DDC” or the “Company”), a leading content-driven meal solutions brand in China announces its decision to terminate its previously proposed merger with SPAC ACE Global acquisition corp. Instead, the company has decided to undertake its IPO on the Nasdaq.
In the meantime, the Company has made progress in growing its plant-based foods business, announcing a strategic partnership with Nestle China and OATLY. Both partnerships are expected to launch as early as the third quarter of this year with DDC incorporate OATLY products into innovative and convenient ready-to-cook meal kits.
DayDayCook also announced a pre-IPO funding round with participation from new investors Brinc and Esquel Ventures, alongside existing investor C Ventures backed by New World Development CEO Adrian Cheng.READ
Rezolve Launches SmartCodes Designed to Engage Consumers and Drive Instant Transactions
Rezolve, a leader in mobile commerce and engagement, today announced the launch of SmartCode, a new trigger built on Rezolve’s platform, designed to provide an efficient approach for merchants to engage consumers and drive instant transactions.
Extending the standard QR code, SmartCode enhances mobile engagement with ‘One click checkout’ for physical locations, providing advanced experiences in mobile engagement for both merchants and consumers. Typically, a QR code provides a way to interact with a fixed page, while SmartCodes transfer consumers to the merchant’s app where they can instantly interact with the product or directly place an order.
On December 17, 2021, Rezolve announced that it had entered into a definitive business combination agreement with Armada Acquisition Corp. I (NASDAQ: AACI), a publicly traded special purpose acquisition company.READ
Mobiv Acquisition Corp. (NASDAQ:MOBV) announced this afternoon that it has closed its combination with EV motorcycle-maker SRIVARU. Shareholders originally approved the deal at a special meeting held back on September 28, but at that time, the parties expected the transaction to take just a week to close. Redemptions whittled Mobiv’s IPO share pool of 10,005,000 down...
Achari Ventures I (NASDAQ:AVHI) has entered into a definitive agreement to combine with medtech firm Vaso Corporation at an equity value of $176 million, or 19.5x its 2022 adjusted EBITDA. Wuxi, China-based Vaso provides IT services and sales support to medical device manufacturers. The combined company is expected to trade on the Nasdaq under the...
EF Hutton Acquisition Corp. I (NASDAQ:EFHT) announced this morning that its shareholders have approved its business combination with E.C.D. Auto Design. At the meeting, there were 5,089,203 shares of common stock, representing approximately 76.82% of the issued and outstanding shares of common stock, present. In connection with the meeting, the company’s stockholders holding 3,470,945 shares,...
Legato Merger Corp. III (NYSE:LEGT) filed for a $175 million IPO yesterday afternoon, becoming the fourth SPAC to file this week. While the other three SPACs that filed their S-1s earlier this week intend to pursue targets in the financial services and biotech industries, Legato III, similar to the earlier Legato SPACs, will focus on...
At the SPAC of Dawn This week ends with an unusually busy earnings calendar as 172 US-listed companies report quarterly figures today. Among them is Exela Technologies (NASDSAQ:XELA), which completed a combination with Quinpario 2 in 2017. The billing software company has gone on to do another SPAC deal on November 29, this time spinning...