Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: eToro secures $250M at $3.5B valuation after scrapping SPAC, DWAC stock gains amid speculation Trump may be arrested, and Morgan Creek SPAC ETF to shut down
eToro secures $250M at a $3.5B valuation after scrapping SPAC, seeing slower growth
After calling off its plans to go public via a SPAC at a $10.4 billion valuation in 2022, trading platform eToro has secured $250 million in funding at a $3.5 billion valuation.
The money is not a typical equity round: it comes by way of an Advanced Investment Agreement (AIA), eToro founder and CEO Yoni Assia told TechCrunch. The company had secured the AIA in early 2021 as a kind of backstop from current backers in the event that its proposed SPAC fell through. Investors include ION Group, Social Leverage, SoftBank and Spark Capital.READ
Trump SPAC DWAC stock gains amid speculation former president may be arrested Tuesday
Trump SPAC Digital World Acquisition (NASDAQ:DWAC), jumped 11% amid speculation that former president may be arrested in New York on Tuesday over alleged hush money he paid to women before the 2016 election.
Trump noted in a Truth Social posting on Saturday that “illegal leaks” indicate that he will be arrested on Tuesday.READ
Another SPAC ETF closing as Wall Street craze dies out
Another ETF investing in SPACs is due to shut this week in a further sign that investor interest in what was once the stock market’s hottest trend has well and truly subsided.
Two SPAC ETFs – the Defiance Next Gen SPAC Derived ETF (SPAK US) and Morgan Creek – Exos SPAC Originated ETF (SPXZ US) – both closed up in September 2022 after trading for less than two years.
Now, the latest SPAC ETF casualty is the Morgan Creek – Exos Active SPAC Arbitrage ETF (CSH US) which was brought to market just one year ago in February 2022.READ
Leading Bitcoin ATM Operator Bitcoin Depot Announces Retail Partnership with GetGo Cafe + Market
Lux Vending, LLC dba Bitcoin Depot, a U.S.-based Bitcoin ATM (“BTM”) operator and leading fintech company, today announced a partnership with GetGo-Cafe + Market, an innovative, food-first convenience store retailer with more than 270 locations throughout western Pennsylvania, Ohio, northern West Virginia, Maryland and Indiana.
On August 24, 2022, Bitcoin Depot and GSR II Meteora Acquisition Corp. (“GSRM”), a special purpose acquisition corporation, entered into a definitive agreement for a business combination that would result in Bitcoin Depot becoming a public company listed on the Nasdaq under the ticker symbol “BTM.”READ
SPACs are back as British biotech firm Zura launches UK’s first Nasdaq listing in 2023
There are signs the SPAC could be making a comeback as a British biotech company will today use the unusual vehicle to become the first UK firm to list on the Nasdaq exchange in 2023.
Zura Bio, which develops medicines for immune system disorders, has raised $65 million (£53 million) via a special purpose acquisition company or SPAC called JATT.READ
Latest SPAC Liquidations: 26 Capital Acquisition Corp. 26 Capital Acquisition Corp.(ADER) to Liquidate on September 21, 2023 26 Capital Acquisition Corp. (Nasdaq: ADER), today announced that it will be unable to complete an initial business combination within the time period required due to the Delaware Court of Chancery’s decision denying 26 Capital’s request for an order...
LatAmGrowth SPAC (NASDAQ:LATG) announced in an 8-K that it adjourned its special meeting yesterday to liquidate early and will reconvene it at 2 pm ET September 28. The proposals on its ballot would have initiated the process of winding down the SPAC and returning all trust capital to investors outside of $100,000 for dissolution expenses....
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. JSE reviewing listing requirements with aim to simplify them The Johannesburg Stock Exchange will be reviewing all its listings requirements with the objective of further simplifying its requirements, as part of its ongoing efforts to create an...
Nabors Energy Transition Corp. (NYSE:NETC) announced this morning that Vast has added an equity commitment of up to $10 million to its combination with concentrated solar power producer Vast. The new commitment comes at $10.20 per share from the Canberra Airport Group and half of it is to come up front at close. A further...
M3-Brigade III (NYSE:MBSC) announced this morning that it has closed its combination with Canadian energy producer Greenfire and the combined company is expected to trade on the NYSE under the symbol “GFR” later today. Concurrent with close, Greenfire also issued $300 million in new senior secured notes at a 2% discount, priced at $980 per...