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October 18, 2021

SPAC

Top Amazon aggregator Thrasio delays SPAC deal as top executives exit

CNBC
CNBC – For more and to sign up click here Thrasio, an early leader in the big business of Amazon aggregators, had a booth at the popular Prosper Show for Amazon sellers in Las Vegas, Nevada, on July 14, 2021. Katie Schoolov Thrasio, the top U.S. aggregator of Amazon third-party......

Higher-quality SPAC sponsors must emerge for once red-hot space to turn around

CNBC
CNBC – For more and to sign up click here Traders work on the floor of the New York Stock Exchange (NYSE) in New York, on Monday, Aug. 23, 2021. Michael Nagle | Bloomberg | Getty Images SPACs are getting a much-needed reality check as investors and regulators grow wary......

EV maker Polestar strikes $20-bln deal with Gores Guggenheim SPAC

Reuters
Sept 27 (Reuters) – Swedish electric-car maker Polestar said on Monday it will go public by merging with a U.S.-listed blank-check firm backed by billionaire Alec Gores and investment bank Guggenheim Partners at an enterprise value of $20 billion. The deal with Gores Guggenheim (GGPI.O) will provide Polestar cash proceeds......

NASA splits human spaceflight unit in two, reflecting new orbital economy

Reuters
Sept 21 (Reuters) – NASA is splitting its human spaceflight department into two separate bodies – one centered on big, future-oriented missions to the moon and Mars, the other on the International Space Station and other operations closer to Earth. The reorganization, announced by NASA chief Bill Nelson on Tuesday,......

Rowing start-up Hydrow scores fresh financing from Lizzo, Justin Timberlake, as at-home fitness competition heats up

CNBC
CNBC – For more and to sign up click here Hydrow broadcasts some of its live content for at-home users from instructors rowing out on the water. Source: Hydrow Hydrow, the maker of a connected rowing machine, said Tuesday it has secured nearly $200 million in financing after its latest......

Singapore Exchange could receive its first SPAC listing application in weeks, CEO says

CNBC
CNBC – For more and to sign up click here Auditorium of the Singapore Exchange (SGX). Roslan Rahman | AFP | Getty Images SINGAPORE — The Singapore Exchange could receive its first application for a SPAC listing in “the next couple of weeks,” Chief Executive Loh Boon Chye told CNBC......

Hong Kong start-up Prenetics to list in the U.S. through $1.7 billion SPAC deal

CNBC
CNBC – For more and to sign up click here Hong Kong biotech company Prenetics is going public through a merger with Artisan Acquisition — a special purpose acquisition company, or SPAC — in a deal that will value the combined entity at $1.7 billion. Roy Liu | Bloomberg |......

Space infrastructure company Redwire stock surges on NYSE debut after closing SPAC deal

CNBC
CNBC – For more and to sign up click here The new ISS Roll-Out Solar Array (iROSA) is deployed covering a portion of the main solar array on the International Space Station NASA’s Johnson Space Center Space infrastructure conglomerate Redwire began trading on the New York Stock Exchange on Friday,......

U.S. grounds Virgin Galactic flights pending mishap probe

Reuters
WASHINGTON, Sept 2 (Reuters) – The U.S. Federal Aviation Administration (FAA) on Thursday barred Virgin Galactic from flying its SpaceShipTwo until the agency approves its final mishap investigation report from its July flight or determines the issues do not affect public safety. The FAA confirmed on Wednesday it was investigating......

Virgin Galactic ‘could really take off’ if it breaks above this level, trader says as space stock gets analyst love

CNBC
CNBC – For more and to sign up click here Virgin Galactic could be setting up for a sustained move higher. Jefferies initiated coverage of the space travel stock with a buy rating on Tuesday, sending shares nearly 9% higher in the day’s trading. On average, analysts covering the stock......

The fall of the SPAC market has digital media companies in disagreement about best path forward

CNBC
CNBC – For more and to sign up click here Craig Barritt | Getty Images The digital media industry has reached a strategic crossroads. Earlier this year, special purpose acquisition vehicles (SPACs) appeared to be the long-awaited savior of digital media companies. BuzzFeed, Vice, Bustle Digital Group and others with......

Forbes to go public via $630 mln SPAC merger

Reuters
The logo of Forbes magazine is seen on a board at the St. Petersburg International Economic Forum 2017 (SPIEF 2017) in St. Petersburg, Russia, June 1, 2017. REUTERS/Sergei Karpukhin/File Photo Aug 26 (Reuters) – The publisher of Forbes magazine will go public through a merger with a blank-check firm in......

Rocket Lab begins trading on the Nasdaq, with SPAC merger growing its cash pile

CNBC
CNBC – For more and to sign up click here The 16th Electron launch in November 2020, when the company recovered the rocket after splashdown for the first time. Rocket Lab Rocket Lab began trading on the Nasdaq on Wednesday, becoming the latest space company to close a SPAC merger......

Branson’s Virgin Orbit to go public through $3.2 bln SPAC merger

Reuters
Aug 23 (Reuters) – Billionaire Richard Branson’s Virgin Orbit is going public through a merger with a blank-check vehicle in a deal that values it at $3.2 billion and includes an investment from Boeing Co (BA.N), it said on Monday. The small satellite launch service provider’s deal with NextGen Acquisition......

Branson’s Virgin Orbit to go public through a SPAC at $3.7 billion valuation

CNBC
CNBC – For more and to sign up click here The modified 737 aircraft “Cosmic Girl” lifts off from Mojave Air and Space Port in California carrying a LauncherOne rocket on June 30, 2021. Virgin Orbit Virgin Orbit, the satellite-launching spinoff off of Sir Richard Branson’s Virgin Galactic, is preparing to go......

Topps SPAC merger with Mudrick Capital dies because MLB killed 70-year-old trading card deal

CNBC
CNBC – For more and to sign up click here Topps’ baseball cards from the 2016 season are on display during the “Open Topps Baseball Series 1 Cards ” event at the Topps’ offices on February 10, 2016 in New York City. Kris Connor | Getty Images Mudrick Capital Acquisition......

Ackman says SPAC does not need to be registered, pushes back on lawsuit

Reuters
BOSTON, Aug 17 (Reuters) – Billionaire hedge fund manager William Ackman said on Tuesday his blank-check acquisition company is not an investment firm that needs to register with U.S. regulators, pushing back against a lawsuit that alleges that his Pershing Square Tontine Holdings has improperly invested in securities. “PSTH has......

Satellite company Spire begins trading on the NYSE after completing SPAC merger

CNBC
CNBC – For more and to sign up click here Spire CEO Peter Platzer rings the opening bell of the New York Stock Exchange (NYSE) during their listing in Manhattan, New York City, U.S., August 17, 2021. Andrew Kelly | Reuters Small satellite builder and data specialist Spire Global began......

Bill Ackman SPAC sued, plaintiffs say directors were promised ‘staggering compensation’

CNBC
CNBC – For more and to sign up click here Bill Ackman’s troubled SPAC was hit with a lawsuit Tuesday alleging the blank-check company promised “staggering compensation” to directors and asking that the entity’s special status be revoked. The plaintiffs — former Securities and Exchange Commission commissioner Robert Jackson and......

Bill Ackman SPAC sued, plaintiffs say sponsors got ‘staggering compensation’

CNBC
CNBC – For more and to sign up click here Bill Ackman, founder and CEO of Pershing Square Capital Management. Adam Jeffery | CNBC Bill Ackman’s troubled SPAC was hit with a lawsuit Tuesday that alleged the blank-check company awarded “staggering compensation” to its sponsors, and asked that the entity’s......

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