Posts
October 21 2021
Trump is going public by taking advantage of Wall Street’s blank-check boom
Former President Donald Trump is planning a return to Wall Street. Trump, whose companies have a long history of filing for bankruptcy, announced a deal Wednesday night to bring a new media company public through what’s known as a SPAC, or a Special Purpose Acquisition Corporation.
www.cnn.com
October 12 2021
Li-Backed Hyphen in Talks on $1 Billion Provident SPAC Deal
Hyphen Group, a financial technology firm backed by Hong Kong billionaire Richard Li, is in advanced talks to go public through a merger with blank-check company Provident Acquisition Corp., according to people familiar with the matter.
www.bloomberg.com
October 12 2021
Globetrotting SPAC Bosses Shun China Amid Mounting Tensions
The globetrotting dealmakers starting blank-check companies are increasingly telling investors there’s one place they won’t go: China.
www.finance.yahoo.com
October 12 2021
Some Investors Find Stability in SPACs
Shares of special-purpose acquisition companies have lost their luster for those who recently saw them as a ticket to fast riches. That is good news for a different group of investors, who treat them as an alternative to bonds.
www.wsj.com
October 11 2021
Finra targets SPACs in latest exam sweep
Finra has launched an examination sweep probing brokerages’ activity involving special purpose acquisition companies. The Financial Industry Regulatory Authority Inc. is delving into how firms offer and provide services to SPACs, according to an examination letter posted on the regulator’s website last week. The increasingly popular vehicles provide a way for retail investors to participate in the public launch of private companies outside a traditional initial public offering.www.investmentnews.comOctober 05 2021
Congress Targets SPAC Founder Shares
The House Financial Services Committee is working on legislation that would prohibit investment advisors, brokers, and registered representatives of brokers from recommending special purpose acquisition companies whose sponsors receive more than 5 percent ownership “or similar economic compensation,” according to draft legislation.
www.institutionalinvestor.com
October 01 2021
MercadoLibre SPAC Has 30 Latin America Tech Firms In Its Sights
E-commerce giant MercadoLibre Inc.’s blank-check company with venture capital firm Kaszek is just getting off the ground. Already, the e-commerce giant’s executives are mulling more partnerships in the region.
www.bloomberg.com
September 30 2021
Scooter Braun’s SPAC, Beau Wrigley’s pot firm Parallel call off merger
Cannabis producer Parallel and media industry executive Scooter Braun-backed Ceres Acquisition Corp have mutually terminated their $1.88 billion merger agreement, the blank-check company said on Thursday.
www.reuters.com