The Latest SPAC News and Rumors: May 15, 2023
by Marlena Haddad on 2023-05-15 at 11:32am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News:  Vingroup surges as EV unit merges with Black Spade and ThinkMarkets to go public through SPAC deal in Canada


Vingroup Surges as EV Unit Seeks US Listing Via SPAC Deal

Shares of Vingroup JSC jumped after announcing its electric vehicle maker unit will list in the US by merging with a blank-check company at an equity value of about $23 billion.

Vingroup rose as much as 6.2% Monday in Ho Chi Minh, the biggest gain since April 3. The stock contributed the most to Vietnam’s benchmark VN Index, which climbed as much as 0.9% to outperform most gauges in Asia.

The merger with Black Spade Acquisition Co.(NYSE:BSAQ), a Hong Kong-based firm, is expected to close in the second half of the year.

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ThinkMarkets to go public through a SPAC deal in Canada

ThinkMarkets, a brokerage firm headquartered in Australia and operated by Think Financial Group Holdings Limited, is set to go public on the Toronto Stock Exchange through a merger deal with blank check company, FG Acquisition Corp.

ThinkMarkets specializes in providing retail trading services and has expanded its institutional presence through a liquidity provisioning platform launched in 2021.

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by Nicholas Alan Clayton on 2023-09-22 at 11:26am

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....

by Nicholas Alan Clayton on 2023-09-22 at 10:54am

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...

by Nicholas Alan Clayton on 2023-09-22 at 10:28am

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...

by Nicholas Alan Clayton on 2023-09-22 at 10:10am

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...

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