Posts
November 03 2021
NBA star Kevin Durant backs $200 million SPAC
Basketball star Kevin Durant is betting on a blank check company. The Brooklyn Nets forward will serve as the co-CEO of Infinite Acquisition Corp, which filed for an initial public offering for $200 million on Wednesday. Infinite will sell 20 million shares at $10 and return money to investors if it doesn’t acquire a company to take public within 24 months. Among the targets: sports, e-commerce, and cryptocurrency companies.
www.cnbc.com
November 02 2021
EF Hutton, the company behind Trump SPAC deal, launches its own SPAC
Less than two weeks after the stock price of a special purpose acquisitions company linked to former president Donald Trump jumped more than 1,000% in just two days before falling back to earth, the company behind that deal is launching its own SPAC.
www.finance.yahoo.com
November 01 2021
Once Taboo, SPACs Are Now the Main Driver of Fundraising and New Growth in Cannabis
For U.S. cannabis companies looking to raise capital for operations that deal in a federally illegal substance, IPOs on American markets aren’t a viable option. Other traditional capital sources—banks, for example—are equally off limits. The constraints set up a perfect environment for special purpose acquisition companies (SPACs) to thrive—and thriving they are.
www.prnewswire.com
October 27 2021
RTP Global’s Gareth Jefferies Expects More SPACs in U.K. in Wake of Eased Regulations
In August, the U.K. Financial Conduct Authority eased rules governing public listings on the London Stock Exchange via special-purpose acquisition companies—as long as they build in some protections for investors.
www.wsj.com
October 27 2021
Ex-Barclays Banker Azar Sees More SPAC Scrutiny After Crackdown
Former Barclays Plc banker Makram Azar, who listed his special-purpose acquisition company last year to scout for European tech unicorns, warned SPACs could come under yet more scrutiny by U.S. regulators after a crackdown earlier this year cooled off the market.
www.bloomberg.com
October 25 2021
Trump SPAC Digital World Acquisition drops 11% after huge gains on social media merger news
The SPAC stock linked to Donald Trump’s planned social media platform sharply dropped in price Monday after booking huge gains last week following news that it would merge with the ex-president’s planned social media company.
www.cnbc.com
October 25 2021
Esports Company FaZe Clan Valued at $1 Billion After Deal to Go Public in SPAC Merger
FaZe Clan says it’s about to become a unicorn. The esports and gaming media company announced plans Monday to combine with a special purpose acquisition company (SPAC) in a deal to become a publicly traded entity — giving it an implied value of $1 billion.
www.variety.com
October 21 2021
Blank-check boom: D&O insurance strategies for SPAC management
Hindsight is 20/20, and directors and officers of publicly traded companies are beginning to reflect as end-of-year reports near. The craze surrounding special purpose acquisition companies, or SPACs, crested over the past year, but with such popularity has come increased regulatory focus and greater considerations for director and officer (D&O) insurance coverage.
www.reuters.com