Posts
April 04 2024
Altman-Backed SPAC That’s Targeting Nuclear Firm Has Surged 22%
Investors have piled into the blank-check firm backed by Sam Altman and Michael Klein that’s taking a developer of advanced nuclear systems public, making it the top performing SPAC on the market.
www.bloomberg.com
March 07 2024
UK Blank-Check Company’s Cash Turns It From Buyer to Target
For tiny companies, raising money is so tough these days that they’ll try almost anything, even if it means turning the normal order of things upside down. Take Belluscura Plc, for example. The medical-device company, listed on the London Stock Exchange, issued roughly $7 million of stock to get its hands on about $6 million of cash, in an intriguing takeover where the target was a blank-check company.
www.bloomberg.com
February 24 2024
Online trading platform Webull is set to go public via a $7.3 billion SPAC deal
Webull is planning to go public through merging with a special purpose acquisition company in a deal that values the digital investing platform at $7.3 billion. The New York-based online brokerage will combine with SK Growth Opportunities Corporation in the second half of the year, pending regulatory and shareholder approvals. The combined company will be listed on Nasdaq as Webull under a new ticker.
www.cnbc.com
February 23 2024
EV maker Lotus Tech closes up modestly in Nasdaq debut after SPAC merger
Shares of Lotus Technology (LOT.O), closed up 2% in their Nasdaq debut on Friday, recouping earlier losses, after the luxury electric car maker completed its merger with a blank-check acquisition company backed by private equity firm L Catterton.
www.reuters.com
January 29 2024
Leaner SPAC Market Expected In Wake Of Tougher SEC Rules
The U.S. Securities and Exchange Commission’s passage of tougher new rules governing special-purpose acquisition companies won’t kill this alternative funding vehicle, several attorneys said Wednesday, though stricter oversight will likely accelerate trends toward a leaner market dominated by larger players.
www.law360.com
January 29 2024
SPACs Will Survive New SEC Regs
But a change in the liability for disclosures and the requirements for financial projections will make early-stage companies think twice about going public via SPAC. The new rules for special-purpose acquisitions companies (SPACs) approved last week may further slow down the market for such vehicles and limit their use but SPACs will survive, said Timothy FitzSimons, a partner at King & Spalding.
www.cfo.com
January 25 2024
SPAC Risk Update with Doug Ellenoff: What to Expect in 2024
For the first SPAC Notebook of 2024, I was pleased to speak once again with Doug Ellenoff, the founder of Ellenoff Grossman & Schole and someone who has been at the forefront of the SPAC market since its inception. In addition to evaluating SPAC activity in 2023, we looked at what to expect for this year.
www.jdsupra.com
January 24 2024
SEC Adopts Rules to Enhance Investor Protections Relating to SPACs, Shell Companies, and Projections
The Securities and Exchange Commission today adopted new rules and amendments to enhance disclosures and provide additional investor protection in initial public offerings (IPOs) by special purpose acquisition companies (SPACs) and in subsequent business combination transactions between SPACs and target companies (de-SPAC transactions).
www.sec.gov