Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: A-Rod’s Slam SPAC in talks to merge with Italy’s Panini Group, France’s Billionaire Pinault family joins SPAC rush in Europe, and Li-Cycle and Helbiz partner to advance battery recycling in micro-mobility
A-Rod’s Slam SPAC Is in Merger Talks With Italy’s Panini Group
Alex Rodriguez’s blank-check firm Slam Corp. is in talks to merge with Panini SpA, which makes sports stickers, cards and other collectibles, in a transaction that is set to value the combined entity at $3 billion or more.
READFrance’s Billionaire Pinault Family Joins European SPAC Push
France’s billionaire Pinault family is set to join the growing line of SPAC sponsors in Europe, aiming to raise as much as €300m for a blank-check company that will focus on the entertainment and leisure industries, according to Reuters.
The SPAC, I2PO, is being launched in Paris on Wednesday and is also backed by Centerview Partners banker Matthieu Pigasse. It will be headed by former WarnerMedia executive Iris Knobloch.
I2PO is looking to combine with a target that has a valuation between €1bn to €2bn in areas such as music and video streaming, gaming, media services or platforms for booking travel and entertainment.
READLi-Cycle and Helbiz Partner to Advance Battery Recycling in Micro-Mobility
Lithium-ion battery recycler Li-Cycle Corp. and micro-mobility firm Helbiz today announced a partnership to create a safe and sustainable recycling solution for end-of-life lithium-ion batteries used in e-scooters and e-bikes.
Both Li-Cycle and Helbiz have previously announced plans to become publicly traded companies in the United States via a merger with SPACs and have plans to expand operations in Europe.
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Graf 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...