The Latest SPAC News and Rumors: December 28, 2021
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: New listing rules could bring more SPACs to Hong Kong Exchange; Virgin Orbit invests in startups as it wraps up SPAC merger
Surprise New Rules Could Bring More SPACs to Hong Kong Exchange
The city’s exchange on Dec. 17 unveiled its rule book for SPACs to take place in the Asian financial hub, while keeping a strict regime to safeguard investors. The new rules could provide a much needed bump after a significant slowdown in IPOs here in the second half of the year amid a crackdown in China and increased market turmoil.
Until now, Hong Kong had struggled attract to SPAC listings as it had arguably taken the most careful approach among major exchanges.
READVirgin Orbit Investing in Startups As SPAC Merger Wraps Up
As Virgin Orbit prepares to complete its merger with NextGen Acquisition Corp. II (NASDAQ:NGCA), the launch provider has announced a series of partnerships and investments to diversify its business.
Among the announcements was a $30 million Series B investment by Virgin Orbit into Polish company SatRevolution Dec. 14, valuing that company at $150 million. SatRevolution is developing a smallsat constellation of imaging satellites and has launched some of its satellites on Virgin Orbit’s LauncherOne.
Virgin Orbit announced Dec. 15 it is taking a 17.5% stake in Hypersat, a Virginia-based geospatial analytics company developing a constellation of hyperspectral imaging satellites that will be launched by Virgin Orbit.
On Dec. 21, Virgin Orbit said it was taking an equity stake into Horizon Technologies, a British company developing satellites for maritime domain awareness.
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