Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Boost Mobile founder wants to buy back service, Lavoro partners with Pattern Ag to predict crop risks, and Starry Group lays off half of staff
Boost Mobile Founder Wants to Buy Back Service, Prevent Deal by Dish
The founder of Boost Mobile wants to buy the wireless service back and keep current owner Dish Network Corp. (NASDAQ:DISH) from merging it with blank-check company Conx Corp. (NASDAQ:CONX), which is controlled by Chairman Charlie Ergen.
Australian Peter Adderton said by phone from Sydney on Thursday that he’s preparing a bid for Boost and has talked to at least one major private equity shop about financing the deal. He’s been trying to get the business back since he first sold it to Nextel in 2003.
Adderton plans to make the Dish board members aware of his interest before they approve the SPAC merger plan. The Conx board is awaiting a decision from Dish before they go ahead with a vote on Oct. 31 to extend the Boost discussions.
READLeading Brazilian ag inputs retailer Lavoro and soil metagenomics leader Pattern Ag launch exclusive partnership to predict crop risks and nutrient deficiencies for farmers in Brazil
Lavoro, Brazil’s largest agricultural inputs retailer, announced today a multi-year partnership with soil metagenomics and digital agronomy leader Pattern Ag to offer farmers in Brazil a groundbreaking service that will predict crop risks and nutrient deficiencies and offer specific product recommendations through a personalized software experience.
Lavoro announced in September its intent to become the first US-listed pure-play Latin American agricultural inputs retailer through a business combination with The Production Board’s (“TPB”) Special Purpose Acquisition Company, TPB Acquisition Corporation I (“TPB Acquisition Corp”) (Nasdaq: TPBA).
READStarry Group Slashes Jobs
Faced with dwindling cash on its balance sheet, a tough environment for raising capital, and a falling stock price, home-internet start-up Starry Group Holdings (NYSE:STRY), which merged with FirstMark Horizon Acquisition Corp., is battening down the hatches. That means laying off half its staff, slowing its network expansion, cutting discretionary spending, and withdrawing 2022 guidance.
Starry also released third-quarter operating metrics on Thursday showing that the business works—it just can’t grow without raising additional capital.
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...