Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Bridgetown Holdings nears merger with Hyphen, Bhutan’s investment arm and Bitdeer plan a $500M fund for crypto mining, and Ares’s $500M SPAC marks return of jumbo blank-check firms
Billionaire-Thiel Backed SPAC Is Said to Near Merger With Hyphen
Bridgetown Holdings Ltd. (NASDAQ:BTWN), the US-listed blank-check company backed by billionaires Peter Thiel and Richard Li, is nearing a merger with financial technology firm Hyphen Group, according to people familiar with the matter.
Bridgetown has conducted due diligence on Hong Kong-based Hyphen and the firms are holding final negotiations with both existing and prospective shareholders, the people said.READ
Bhutan Plans a $500 Million Fund for Crypto Mining in the Himalayas
Bhutan’s investment arm and Nasdaq-listed company Bitdeer Technologies Group (NASDAQ:BTDR) plan to seek investors for a fund worth up to $500 million that will be used to develop green crypto mining in the Himalayan kingdom.
Fund raising targeting institutional investors will begin at the end of May and the goal is to set up carbon-free digital mining that taps Bhutan’s abundant hydroelectric power, according to a joint statement Wednesday.
Bitdeer completed its $4 billion business combination with Blue Safari in April.READ
Ares’s $500 Million SPAC Marks Return of Jumbo Blank-Check Firms
A $500 million special-purpose acquisition company backed by Ares Management Corp. (NYSE:ARES) is the first jumbo blank check firm to emerge after more than a year of mostly tiny offerings.
The alternative asset manager’s second blank-check effort shows there’s demand for SPACs amid a backdrop that has seen dozens shut down and a growing number forced to grapple with investors cashing out. Ares Acquisition Corp. II (NYSE:AACT) is the biggest SPAC offering to price since January 2022, when stock markets traded near all-time highs and hundreds of sponsors were still running to join the SPAC gold rush.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...