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 […]

Polestar SPAC merger poised to raise $850m

Polestar and Gores Guggenheim, the special purpose acquisition company (SPAC) planning to merge with EV maker, said Tuesday that they expect the deal to raise at least $850m. The companies noted in their release Tuesday that the preliminary redemption elections are expected to reach a maximum of 25 percent. The lower the number the better […]

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 […]

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 […]

Crypto company Circle seeks to double valuation to $9bn in Spac deal

Fintech group led by Bob Diamond pushes ahead with plans despite termination of previous funding arrangements US financial technology company Circle said on Thursday that its planned deal to list on Wall Street via a blank cheque company chaired by former Barclays chief Bob Diamond has doubled in value to $9bn. The group, which runs […]