Posts
May 22 2024
Blank-check firm Admiral to buy North America’s Acuren in $1.85 bln deal
Admiral Acquisition (ADMR.L), will buy North American engineering and lab-testing services provider Acuren in a $1.85 billion deal, the blank-check company co-founded by dealmaker Martin E. Franklin said on Wednesday.
www.reuters.com
May 16 2024
No Relief For Struggling SPACs Under Buyback Tax Proposal
Special-purpose acquisition companies won’t get sought-after relief from a new 1% tax on stock buybacks under a recent Treasury Department proposal that otherwise provides helpful clarity on the tax’s implications for the subdued SPAC market, lawyers say.
www.law360.com
May 15 2024
Chinese EV maker Aiways to go public in US via deal with Hudson Acquisition SPAC
Chinese electric vehicle maker Aiways will go public via a merger with U.S. special purpose acquisition company Hudson Acquisition Corp (HUDA.O), in a deal that should value the company around $400 million, the two companies said.
www.reuters.com
May 07 2024
Jollibee founder Tony Tan backs hotel SPAC deal despite lull in IPOs
The founder of the Philippine fast-food giant Jollibee, Tony Tan, is throwing his full weight behind the initial public offering of a hotel brand on New York’s Nasdaq via a merger with a special purpose acquisition company (SPAC) despite the shaky record of the listing vehicle.
www.asia.nikkei.com
May 02 2024
SPAC Veteran Klein Is Back With First IPO in Nearly Three Years
Veteran dealmaker Michael Klein has returned to the blank-check arena for the first time in nearly three years, after the once red-hot investing trend went bust and cost sponsors and investors billions.
www.bloomberg.com
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