Posts
June 28 2021
Asian investors and targets remain hot on SPACs, as fundraising by blank-cheque companies cools
Asian investors and target companies in the region remain keen on special purpose acquisition companies (SPACs), with more than a dozen of these so-called blank-cheque companies with ties to Asia seeking to go public in the United States in the past two months alone.
www.scmp.com
June 28 2021
SPAC to Buy Stake in Universal Music Group for $4 Billion
Billionaire Bill Ackman’s blank check company, Pershing Square Tontine Holdings Ltd., has signed a deal to buy 10% of Santa Monica-based Universal Music Group for about $3.95 billion.
www.labusinessjournal.com
June 28 2021
Beachbody’s SPAC Merger With Peloton Rival Mints A New Billionaire
The SPAC craze has minted yet another billionaire in the latest example of blank-check companies leading to new members of the three-comma club. Santa Monica-based Beachbody—the exercise-DVD and weight-loss-shake-hawking multilevel marketing…
www.forbes.com
June 25 2021
Fenwick, BraunHagey land Buzzfeed’s $1.5 bln SPAC merger
Fenwick & West and BraunHagey & Borden are orchestrating Buzzfeed Inc’s $1.5 billion merger with 890 5th Avenue Partners Inc, a blank check company named after the fictional Avengers mansion.
www.reuters.com
June 25 2021
NYSE’s Cunningham Sees Heightened Scrutiny of SPACs on Horizon
New York Stock Exchange President Stacey Cunningham said special purpose acquisition companies can expect increased regulation and calls for transparency amid heightened scrutiny from the U.S. Securities and Exchange Commission.
www.bloomberg.com
June 08 2021
Wall Street grapples with new SPAC equity contracts after regulator crackdown
Wall Street accountants and lawyers are trying to figure out new equity agreements to lure investors back to the blank-check company market after the U.S. regulator cracked down on the use of warrants, six industry executives told Reuters.
www.reuters.com
June 08 2021
TPG-Backed PropertyGuru Eyes $2 Billion Thiel SPAC Deal
Bridgetown 2 Holdings Ltd., the blank-check company backed by billionaires Richard Li and Peter Thiel, is in advanced talks to merge with Singapore’s online real estate firm PropertyGuru Pte, according to people with knowledge of the matter.
www.bloomberg.com
June 07 2021
Mark Cuban-Backed Personal Finance App Dave to Go Public in $4 Billion SPAC Deal
A special-purpose acquisition company sponsored by Victory Park Capital has agreed to merge with banking app Dave, allowing the financial startup to begin operating as a public company.
www.wsj.com