Key Takeaways EToro and Fintech V have announced that they are canceling a planned agreement for a SPAC merger. That proposal was first announced in March 2021 and would have brought eToro’s val...
Tag: SPAC
eToro Aiming For A Billion Dollar Funding Called-Off SPAC Merger
A year ago, eToro announced its plan to go public on Wallstreet. This was, at the time, expected to be done through the SPAC partnership. In January, Fintech Acquisition Corp V told everyone tha...
Panera Bread terminates SPAC deal with Danny Meyer’s investment group
Florida, Spring Hill, Nature Coast Commons, shopping mall, Panera Bread bakery. Jeff Greenberg | Universal Images Group | Getty Images Danny Meyer’s SPAC and Panera Bread have called off a deal ...
SPAC Led by Former Apple Executive Goes Bankrupt Less Than a Year After Going Public
(Bloomberg) — Enjoy Technology Inc., a retail startup founded by former Apple Inc. executive Ron Johnson, filed for bankruptcy on Thursday — less than a year after going public through a m...
How Are Special Purpose Acquisition Companies Affecting The Media Industry
NEW YORK, NEW YORK – JUNE 14: Traders work on the floor of the New York Stock Exchange (NYSE) on … [+] June 14, 2022 in New York City. The Dow was up in morning trading following a drop on...
Dow Jones Dips; Donald Trump SPAC Dives On This Move; Apple Whipsaws On Wall Street Call
The Dow Jones Industrial Average fell Monday as yields rose once again. The Donald Trump SPAC Digital World Acquisition (DWAC) fell amid legal woes, while Apple (AAPL) skidded amid a lukewarm Wall Str...
Trump-Tied SPAC Tumbles After Disclosing Grand Jury Subpoena
(Bloomberg) — Digital World Acquisition Corp., the special purpose acquisition company merging with Trump Media & Technology Group, tumbled after disclosing that a federal grand jury in the ...
Trump SPAC deal threatened by criminal probe
Former U.S. President Donald Trump applauses during the National Rifle Association (NRA) annual convention in Houston, Texas, U.S. May 27, 2022. Shannon Stapleton | Reuters A federal criminal investi...
Polestar (PSNY) stock debuts on Nasdaq after SPAC merger
Shares of Polestar made their public-market debut under the ticker “PSNY” on Friday, making it the latest electric vehicle maker to go public via a merger with a special purpose acquisitio...
Crypto Payment Firm Roxe Plans to Go Public via $3.6B SPAC Deal With Goldenstone
Global blockchain payments infrastructure firm Roxe Holding has signed a merger agreement with New York-based special purpose acquisition company (SPAC) Goldenstone Acquisition Limited. Roxe Plans to...
Polestar shares expected to debut Friday on Nasdaq after SPAC deal approved
Shares of electric vehicle company Polestar are expected to debut on the Nasdaq on June 24, after shareholders of special purpose acquisition company Gores Guggenheim Inc. GGPI, +11.87% approved the p...
Blockchain Firm Roxe to Go Public Via a $3.6 Billion SPAC Deal (Report)
The blockchain-based payments company – Roxe Holding – reportedly struck a $3.6 billion SPAC deal with Goldenstone Acquisition Ltd to become a publicly-traded enterprise with a ticker symbol “ROXE.” N...
Blockchain Payments Company Roxe on Brink of Going Public in $3.6 Billion SPAC Deal
Roxe Holdings, a blockchain payments firm is about to become a public company but will not go through the route of getting an initial public offering (IPO). Instead, it will be getting help from a Spe...
U.S. SPAC To Proceed With Okada Manila Deal Despite Management Fracas At Philippine Casino Resort
The Okada Casino launches its “dancing fountain” in front of its main building at Entertainment City in Manila on March 31, 2017. TED ALJIBE/AFP via Getty Images Miami-based 26 Capital Acq...
Former Credit Suisse CEO’s $345 Million SPAC Loses Pimco Support
Credit Suisse chief executive officer Tidjane Thiam attends the annual shareholders meeting of the … [+] Swiss banking group in Zurich on April 28, 2017. / AFP PHOTO / Michael Buholzer (Photo cr...
SPAC Fire Sales Stick Investors With Deeply Discounted Buyouts
(Bloomberg) — Investors who piled into SPACs at the height of the industry’s mania with dreams of triple-digit returns are facing a harsh reality: They may get bought out for little more than pe...
This SPAC is merging with an already-public company as sponsors get creative before time runs out
Traders on the floor of the NYSE, June 8, 2022. Source: NYSE SPACs are known to be a roundabout investment vehicle to take private companies public. Not this one. Bull Horn Holdings is merging with bi...
Forbes Scraps SPAC IPO Agenda amid Dwindling Investor Interest & Heightened Regulatory Scrutiny of Blank-Check Firms
Forbes has reportedly pulled the plug on its SPAC IPO after conducting market reevaluations. An official announcement is expected soon. Forbes will not be going forward with its SPAC initial public of...
Forbes to ditch SPAC funding plan: NYT
The New York Times reported Tuesday that Forbes has canceled its plan to raise funds via a special purpose acquisition vehicle or SPAC. Citing two sources familiar with the matter, the Times said that...
SeatGeek tables deal to go public with Billy Beane’s SPAC due to market volatility
General Manager Billy Beane of the Oakland Athletics. Michael Zagaris | Oakland Athletics | Getty Images Ticketing platform SeatGeek and black-check firm RedBall Acquisition Corp. decided to terminate...
Dow Jones Rises; Donald Trump SPAC Surges; Twitter Stock Sees Elon Musk Gains Vanish
The Dow Jones Industrial Average moved higher despite mixed broader trading. Twitter (TWTR) saw accrued gains evaporate amid rising fears over the takeover bid tabled by Tesla (TLSA) CEO Elon Musk. Th...
Trump’s SPAC Deal Leaves Door Open for His Return to Twitter
(Bloomberg) — The merger deal bringing Donald Trump’s media venture public carries a range of risks for its investors, including permission for the former president to resume tweeting about poli...
After SPAC Mania, Electric-Vehicle Startups Face a Cash Squeeze
(Bloomberg) — Two years into the SPAC merger boom for electric-vehicle startups, companies are having a tough time finding cash to actually produce cars. Most Read from Bloomberg First Lordstown...
Chicken Soup To Acquire DVD Kiosk Merchant Redbox In $375 million Deal For Sagging SPAC
Among buggy whip businesses, Redbox Entertainment (RDBX), the Oakbrook Terrace, Illinois operator of 38,000 DVD rental kiosks found in supermarkets and convenience stores from Safeway and ShopRite, to...
Goldman Sachs is shrinking its SPAC business amid regulatory crackdown and market turmoil
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, May 9, 2022. Brendan McDermid | Reuters Goldman Sachs is scaling back its business in the once red-hot SPACs as blank-check...
Facebook Billionaire Eduardo Saverin’s B Capital Halts SPAC Plans Amid Market Volatility
B Capital—an investment firm led by Facebook cofounder Eduardo Saverin and former Bain Capital executive Raj Ganguly—won’t pursue an earlier plan to launch a special purpose acquisition company (SPAC)...