Posts
January 25 2023
Jerusalem’s Freightos To Go Public In $500 Million SPAC Merger
Special Purpose Acquisition Companies (SPACs) — blank check companies that go public with hopes of quickly merging with a private company — are way down, but not out. How so? One such SPAC, Denver-based Gesher I Acquisition Corp. — which went public in November 2021 — is about to merge with Jerusalem-based Freightos, “a global leader in air-based shipping and a formidable player in sea-based shipping,”
www.forbes.com
March 23 2022
Crypto-Focused SPAC Companies Are Outperforming Their Peers
Going public through a blank-check company is a bet that seems to have paid off only for crypto companies so far this year. Monex Group’s Coincheck Inc. was the latest to agree to a reverse-merger with a special purpose acquisition company, making it the 10th crypto firm to announce such a deal since last year. Others, including stablecoin operator Circle and mining companies BitFuFu and Bitdeer are still eyeing a U.S. listing this year.
www.finance.yahoo.com
March 22 2022
Fashion Designer Lanvin Group Plans U.S. Listing Via SPAC
Lanvin Group, which owns the French fashion brand known for its red-carpet gowns, plans to float in New York via a blank-check company in a sign of confidence for the luxury industry. The transaction is set to give the company an enterprise value of $1.5 billion. Lanvin’s owners, which include Chinese investor Fosun, are hoping to raise $544 million, which will help fund expansion and could help finance at least one acquisition within the next three years, Chief Executive Officer Joann Cheng said in an interview.
www.bloomberg.com
March 22 2022
As Their Boom Loses Steam, What’s The Outlook For SPACs Now?
A once lesser-known pathway to raising capital has in recent years been making headlines: the special purpose acquisition company (SPAC). A SPAC is a listed shell corporation that exists expressly to acquire startups and other private companies, taking them public with typically more speed and efficiency than the traditional initial public offering (IPO) process can provide.
www.forbes.com
February 23 2022
PowerUp Acquisition raises $250M for gaming SPAC with Jack Tretton and Bruce Hack
Are gaming SPACs back? After a lull because of a choppy stock market, PowerUp Acquisition announced last week it was raising $250 million in an initial public offering for its special purpose acquisition company (SPAC).
www.venturebeat.com
February 23 2022
Conway SPAC Seeks Euro Soccer Club Despite Public Market Doubts
Counter Press Acquisition (CPA), the SPAC formed by Hollywood financier Paul Conway and former Tampa Bay Rays executive Michael Kalt (Rays owner Randy Frankel, Los Angeles Dodgers president of baseball operations Andrew Friedman and Angel City Football Club co-founder Julie Uhrman are also part of the management group), has set out on its mission to buy a material minority stake in a European football club.
www.sports.yahoo.com
February 22 2022
Trump-linked Digital World’s shares surge after Truth Social app launch
Shares of Digital World, the blank-check company behind former U.S. President Donald Trump’s new social media venture, Truth Social, surged nearly 30% in premarket trading on Tuesday as the app climbed the charts after its debut on Apple’s App Store.
www.cnbc.com
February 07 2022
First African Cannabis SPAC Planned by Cilo Cybin Founder Theron
Africa’s first cannabis-focused blank-check company is set to list later this year with a view to buying companies in the fledgling industry alongside genetics and wearable health-device companies in the U.S. and South Africa.
www.bloomberg.com