Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Iconiq Motors considers $4 billion deal and Redwire surges after closing combination
Chinese EV Startup Iconiq Said to Mull $4 Billion U.S. SPAC Deal
Chinese electric vehicle firm Iconiq Motors is considering going public in the U.S. through a merger with a blank-check company.
The startup is working with an adviser on a potential deal that could value the combined company at about $4 billion.
READRedwire Surges on NYSE Debut After Closing SPAC Deal
Space infrastructure conglomerate Redwire (NYSE:RDW) began trading on the New York Stock Exchange on Friday, joining a flurry of space companies closing SPAC mergers and going public.
Redwire, formed last year by private equity firm AE Industrial Partners, merged with Genesis Park, and now trades under the ticker “RDW.”
Shares of Redwire surged as much as 20% in trading from its previous close of $10.50.
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Graf Acquisition Corp. IV (NYSE:GFOR) announced in an 8-K this afternoon that it has come to a forward purchase agreement (FPA) with Meteora Capital Partners involving up to 2,500,000 shares for its combination with NKGen Biotech. Meteora is to purchase up to that amount on the open market prior to close, capped at 9.9% of...
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....
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...
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...
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...