Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Financial firms race to list first SPAC in Hong Kong and Medikabazaar targets unicorn status in 2022
Financial Firms’ Race to List First SPAC in Hong Kong Heats Up As HKEX Decision Nears
Financial firms are busy working with wealthy clients to be among the first to list SPACs in the city in anticipation of Hong Kong Exchanges and Clearing (HKEX) giving its approval to blank-check companies, according to South China Morning Post.
HKEX chief executive Nicholas Aguzin on Wednesday said a decision on SPACs will be made soon after the 45-day consultation period ends on Sunday, hinting that the first listing could happen shortly.
Singapore Exchange allowed SPACs to list from September 3, just one day after the bourse announced it had concluded the consultation on the subject
The Next Unicorn in India May Be CDC-Backed Startup Medikabazaar
Medikabazaar, an online platform selling medical supplies and equipment to some of India’s biggest hospital chains, aims to hit a $1 billion valuation within the next three to six months as it taps into an e-commerce funding boom in the country.
The parent company Boston Ivy Healthcare Solutions Pvt. expects to reach unicorn status by the end of its next round of series-D financing for about $150 to $200 million, according to Chief Executive Officer Vivek Tiwari. In three years the firm may publicly list in India or in the U.S. through a SPAC, he added.
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At the SPAC of Dawn September’s busy, but short, first week is set to keep rolling with three completion votes by Achari I (OTC:AVHI), Nova Vision (NASDAQ:NOVV) and Focus Impact (NASDAQ:FIAC) this week. All three of these have been postponed at least once, and could do so again, but Focus Impact has its transaction deadline...
Terms Tracker for the Week Ending September 6, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. It was a short holiday week and while it was light on filings, SPACs did manage to price two IPOs. That means 2024 has now...
Compass Digital (NASDAQ:CDAQ) has entered into a definitive agreement to combine with renewable energy firm EEW at a pro forma enterprise value of $386 million. London-based EEW is a solar, hydrogen and energy storage project developer with 1.4 GW of solar projects sold to date in Australia, the UK, Spain, and Sweden. The combined company...
Evergreen (NASDAQ:EVGR) has entered into a definitive agreement to combine with enterprise software firm Forekast at a pre-money enterprise value of $105 million. The company provides data analytics and customer engagement tools backed by some degree of AI automation to improve efficiencies for its business clients. The combined company is expected to trade on the...
At the SPAC of Dawn The auto-reply messages are off. SPACs are definitively back from vacation and in the thick of it. Two new SPACs are set to debut in trading today in Vine Hill (NASDAQ:VCICU) and Andretti II (NASDAQ:POLEU) and two SPACs have also landed their search on new targets, which could pull a...