Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Xfinity becomes official internet and mobile partner of FaZe Clan and Starboard Value takes stake in data center business Vertiv
Xfinity Becomes Official Internet and Mobile Partner of FaZe Clan
Xfinity and FaZe Holdings Inc. (Nasdaq: FAZE) (“FaZe Clan”), the lifestyle and media platform rooted in gaming and youth culture, today announced plans to develop original content, private fan events, exclusive merchandise, and more, further expanding upon an agreement that recently began with FaZe Swagg’s appearance in Xfinity’s Unbeatable Internet campaign with Ed Helms. The goal of the partnership is to celebrate creators, the gaming industry’s biggest moments, and to highlight the integral role that fast and reliable connectivity to the Internet plays in the ecosystem. Xfinity will become the official Internet and Mobile provider for FaZe Clan.
Starboard Takes Stake in Data Center Business Vertiv
Starboard Value has built a sizable position in Vertiv Holdings Co. (NYSE:VRT), as another company that went public via a blank-check deal becomes a target for activism.
Starboard disclosed a 7.4% stake in the supplier of equipment and services for data centers in a regulatory filing Thursday, confirming an earlier report by Bloomberg News. The firm said in the filing that it believed the company was undervalued.
Vertiv, previously a division of Emerson Electric Co., went public in 2020 via a merger with a SPAC backed by Goldman Sachs Group Inc. and led by David Cote, who was previously CEO of Honeywell International Inc. and TRW Inc.
READPrime Impact I (NYSE:PIAI) has entered into a definitive agreement to combine with auto insurance firm Cheche at an enterprise value of $841 million, or about 2.3x its 2022 revenue. Beijing-based Cheche provides a digital insurance platform for car owners in China with about 34 million vehicles covered. The combined company is expected to trade...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Hambro Perks eyes merger with Biotech Istesso, Rocket Lab launches first vehicle from U.S. soil, and Alliance Entertainment signs licensing agreement with The Walt Disney Company Hambro Perks SPAC Eyes Merger With Biotech...
Pono Capital Corp. (NASDAQ:PONO) disclosed in an 8-K filing this morning that its shareholders approved its combination with air mobility company AERWINS at a special meeting held on Friday, January 27. Holders of 12,412,861 common shares were present at the meeting and the deal was approved with 11,218,712 shares in favor of the transaction. The filing did not...
European Biotech (NASDAQ:EBAC) announced in an 8-K this morning that it has increased its PIPE by $7.8 million and added $7 million to the convertible loans attached to the combination with biotech firm Oculis. The new PIPE cash comes at $10 per share and joins $63.3 million in existing PIPE financing for a total of...
DHC Acquisition Corp (NASDAQ:DHCA) announced that it is formally terminating its combination with conservative banking venture GloriFi. This was essentially a formality because the SPAC already announced in November that GloriFi had begun the process of winding down. The two sides announced their $1.7 billion combination in July. But, even at the time, public details...