The Latest SPAC News and Rumors: October 19, 2021
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Robotics company Symbotic in talks to merge with SVF Investment Corp. 3 for $4.5 bln, Aura and Fat Projects eye SPAC listings in New York and Singapore
Walmart-backed Symbotic in $4.5 Bln Talks to Merge With SoftBank SPAC
Walmart Inc-backed robotics and automation company Symbotic is in talks to merge with SVF Investment Corp. 3 (NASDAQ:SVFC), a blank-check vehicle backed by SoftBank Group Corp., in a deal that would value the combined firm at $4.5 billion, Sky News reported.
If successfully completed, Walmart is expected to participate in the capital-raising element of the deal known as the PIPE alongside other investors.
READAura and Fat Projects Eye SPAC Listings in New York, Singapore
Singaporean investment firms Aura Group and Fat Projects have agreed to explore launching SPACs that target technology businesses in the Asia Pacific region.
“We share the joint thesis that Southeast Asia is one of the most exciting places to invest over the next decade,” Aura co-founder Calvin Ng said in an interview. “The next billion internet users are coming online from this region.”
READ