The Latest SPAC News and Rumors: June 9th, 2021


The Latest SPAC News and Rumors: June 9th, 2021

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Vista Global mulls SPAC merger, Solid Power in talks to merge with Decarbonization, and Vertical Aerospace nears deal with Broadstone while Palihapitiya gives retail traders IPO access


Private Jet Operator Vista Global Holds SPAC Merger Talks

Private aviation provider Vista Global Holding Ltd. is in talks to go public through a merger with a SPAC, people familiar with the matter told Bloomberg.

A transaction could value Vista at more than $10 billion including debt, said the people.


Ford-Backed Solid Power Said in Talks With Decarbonization SPAC

Solid Power, a maker of solid-state batteries that counts Ford Motor Co. and BMW AG among its investors, is in talks to go public through a merger with Decarbonization Plus Acquisition Corp. III, people with knowledge of the matter told Bloomberg.

The blank-check firm is seeking to raise more than $100 million in new equity to support a transaction that’s set to value the combined entity at about $1.2 billion, including debt.

The Decarbonization Plus SPAC is an affiliate of Riverstone Investment Group. Led by CEO Erik Anderson, it raised $350 million in a March IPO.


Flying Taxi Start-Up Vertical Aerospace Plots $2B Osmond SPAC Merger

British flying taxi company Vertical Aerospace, which was established by Stephen Fitzpatrick five years ago, is close to sealing a $2bn deal with Broadstone Acquisition Corp. that will see it become a publicly traded company in New York.

The merger with Broadstone, which was established by the businessman Hugh Osmond, could be announced as soon as Thursday, according to Sky News.


Singapore’s Grab Delays Merger Completion to Fourth Quarter

Singapore’s Grab Holdings Inc. postponed the expected completion of its merger with a U.S. blank-check company as the ride-hailing and food-delivery giant works on a financial audit of the past three years.

The deal, set to be one of the largest-ever mergers with a SPAC, is now expected to be completed in the fourth quarter of this year, the company said in a statement on Wednesday. When announcing the merger in April, Grab expected completion in the third quarter.


Palihapitiya SPACs Tap SoFi to Give Retail Traders IPO Access

A group of SPACs run by venture capitalist Chamath Palihapitiya have tapped SoFi Technologies Inc. to help run their IPOs, in a bid to make the sales more accessible to retail investors.

The four blank-check companies, including Social Capital Suvretta Holdings Corp. I, II and IV, have added SoFi‘s online brokerage as an underwriter to their stock sales, according to regulatory filings published on Wednesday.  The filings show that each SPAC expects to offer 5% of its Class A shares via the SoFi platform.