Bill Ackman to wind up SPAC, return $4B to investors
Billionaire investor William Ackman, who had raised $4bn in the biggest-ever special purpose acquisition company, told investors he would be returning the sum after failing to find a suitable target company to take public through a merger. The development is a major setback for the prominent hedge fund manager who had initially planned for the […]
Tikehau Capital sponsored SPAC Pegasus Entrepreneurs to combine with FL Entertainment
Pegasus Entrepreneurial Acquisition Company Europe (Pegasus Entrepreneurs), a Tikehau Capital-sponsored SPAC focused on high-growth entrepreneurial businesses, is to combine with FL Topco BV. Following the completion of the Business Combination, FL Entertainment NV (FLE), a specialist in independent content production and one of the fastest-growing online sports betting platforms in Europe, will list on Euronext […]
Carousell, L Catterton SPAC Merger Talks End Amid Rout
Carousell Pte, a Singapore-based online classifieds marketplace operator, has recently ended talks to go public through a merger with blank-check company L Catterton Asia Acquisition Corp. amid market volatility, according to people familiar with the matter. The companies were in exclusive talks to merge in a transaction that could have valued the combined entity at […]
Surf Air to Go Public Via SPAC Deal at $1.42 Billion Value
Surf Air Mobility Corp., a membership-based private plane operator, has agreed to merge with a blank-check company in a deal that will give the company a market value of about $1.42 billion and help propel its expansion and plans for a fleet of hybrid electric aircraft. The transaction with Tuscan Holdings Corp. II will provide […]
Dating App Grindr to go public in $2.1 billion SPAC deal
Grindr said on Monday it would go public through a merger with a blank-check acquisition firm – a deal that values it at $2.1 billion and features Tiga Investments CEO Raymond Zage on both sides of the transaction. Grindr said its existing shareholders would own 78% of the company after the merger, which comes two […]
Elliott investment in travel group is rare bright spot for Spacs
Blank-cheque companies have struggled to secure so-called Pipe funding to complete deals Hedge fund Elliott Management is investing in a special purpose acquisition company deal, marking a rare bright spot for blank-cheque investment vehicles that have fallen from favour and left dealmakers scratching around for investors. Elliott and New York-based Siris Capital are investing $20mn […]
Seven Years After Its Ipo Collapsed, Deezer Is in Talks to to Go Public Again via a SPAC
Deezer, the rival music streaming service to the likes of Spotify and Apple Music, is reportedly taking another run at going public. Today, those market conditions look rather different: In 2015, according to updated IFPI figures, the global recorded music industry generated $14.7bn annually, of which just $2.8bn (19%) came from streaming. In 2021, the global recorded music industry generated $25.9bn annually, of which $16.9bn (65%) came […]
ADQ and Chimera Capital set up Abu Dhabi’s first SPAC
Abu Dhabi state holding firm ADQ and investment firm Chimera Capital have set up a blank-check company that will raise $99.93m and list in the capital, according to a statement on Tuesday. The United Arab Emirates’ Securities and Commodities Authority in January approved a regulatory framework for blank-check firms, more commonly known as special purpose […]
LanzaTech to go public in SPAC deal, valued at $2.2bn
LanzaTech NZ Inc said on Tuesday it plans to go public by merging with special purpose acquisition company AMCI Acquisition Corp II, in a deal that values the carbon recycling technology company at $2.2bn. The deal is expected to raise gross proceeds of nearly $275 million, comprising the $150m AMCI raised in its IPO last […]
New SPAC Raises $200 Million on Amsterdam Exchange, First in 2022
A special purpose acquisition company or SPAC, Luxembourg-based GP Bullhound Acquisition I SE, raised 200 million euros ($229 million) on Friday on the Amsterdam Euronext, the first SPAC listing on the exchange in 2022. SPACs are shell companies that raise money in an initial public offering (IPO) and put it in a trust for the […]
