The Latest SPAC News and Rumors: August 25, 2021

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

Latest SPAC News: Apollo is raising $500 million for SPACs, Cathie Wood amasses 11% stake in $17.5 billion Harry Sloan SPAC, and four SPACs backed by ShiftPixy slash IPO sizes

Apollo Seeks $500 Million Fund to Invest in SPACs

Cathie Wood Stake in $17.5 Billion Harry Sloan SPAC Hits 11%

Cathie Wood’s ARK Investment Management LLC now has a nearly 11% stake in a SPAC backed by former Hollywood executive Harry Sloan, Bloomberg reported.

Ark’s daily trading statement shows it added another 1.2 million shares of Soaring Eagle Acquisition Corp. (NASDAQ:SRNG) on Tuesday. That takes the firm’s total holdings to nearly 18.5 million shares across the flagship ARK Innovation ETF (NYSE:ARKK) and the ARK Genomic Revolution ETF (BATS:ARKG), according to data compiled by Bloomberg.

Four SPACs Backed By ShiftPixy Slash U.S. IPO Sizes

Four blank-check companies backed by staffing services company ShiftPixy Inc cut the size of their IPOs on Wednesday.

Of the four SPACs, Firemark Global Capital Inc had targeted the biggest raise of $500 million, when it first submitted its paperwork in April. The company said it is now looking to raise up to $150 million.

The other firms — TechStackery Inc, Vital Human Capital Inc and Industrial Human Capital Inc — are now aiming to raise $150 million each, compared with a target of $250 million each earlier, according to regulatory filings.