Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Saudi Arabia explores setting up framework for SPAC listings, and Boxed considers filing for bankruptcy
Saudi Arabia Explores Setting Up Framework for SPAC Listings
Saudi Arabia’s market regulator is looking into setting up a legal framework to allow special-purpose acquisition companies to list in the kingdom.
“This is one of the things that we are allowing for businesses to reach the market easier,” Yazeed Saleh Aldemaigi, deputy, strategy and international affairs at the Capital Market Authority, said at the Financial Sector Conference in Riyadh Thursday.
READBoxed considers filing for bankruptcy
Online retailer Boxed (NYSE:BOXD) is considering filing for bankruptcy as the cash-starved company faces pressure to make millions of dollars in payments to creditors it might not be able to afford, according to a Tuesday filing with the U.S. Securities and Exchange Commission.
Seven Oaks completed its merger with Boxed in December 2021.
READAt 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...
FTAC Emerald (NASDAQ:EMLD) has entered into a definitive agreement to combine with crypto fintech firm Fold at an enterprise value of $381 million. Phoenix, Arizona-based Fold provides digital banking services backed by a treasury of Bitcoin that includes FDIC-secured checking accounts as well Bitcoin trading and awards. The combined company is expected to trade on...
At the SPAC of Dawn Dealmakers remain confident that AI is going to play a big role in their M&A processes, but feel unprepared for some the changes, according to a new survey of 225 corporate and 75 private equity transactions professionals. SS&C subsidiary Mergermarket generated the report that found more than half of respondents...